Author Topic: Misc Credit Card Questions  (Read 811381 times)

Offline Yo ssi

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Re: Misc Credit Card Questions
« Reply #9615 on: October 27, 2020, 05:23:45 PM »
I am not sure how it works with someone with only one card.
It is like the numbers always reported. Payment history 35%, credit history 15% and so on. Those are generic numbers only. FICO algo is a lot more complicated.
How has the algorithms not get leaked yet?

Offline mmgfarb

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Re: Misc Credit Card Questions
« Reply #9616 on: October 27, 2020, 05:33:00 PM »
How has the algorithms not get leaked yet?
It's a computer algorithm (actually a bunch of different ones,) you can't just "leak it." Also, it's proprietary IP, this kind of stuff doesn't just get "leaked." It's like asking why google's algorithm hasn't been leaked yet.
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Offline Yo ssi

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Re: Misc Credit Card Questions
« Reply #9617 on: October 27, 2020, 05:45:18 PM »
It's a computer algorithm (actually a bunch of different ones,) you can't just "leak it." Also, it's proprietary IP, this kind of stuff doesn't just get "leaked." It's like asking why google's algorithm hasn't been leaked yet.
I was half kidding.

Google isn't really comparable. Google's algorithm is quite useless to the general public while FICOs is a lot more useful

Offline CountValentine

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Re: Misc Credit Card Questions
« Reply #9618 on: October 27, 2020, 05:45:57 PM »
How has the algorithms not get leaked yet?
Not leaked but parts disclosed in court proceedings.
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline mmgfarb

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Re: Misc Credit Card Questions
« Reply #9619 on: October 27, 2020, 06:21:06 PM »


Google's algorithm is quite useless to the general public
Except that it's worth many billions of dollars...
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Online avrohomgelb

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Re: Misc Credit Card Questions
« Reply #9620 on: October 27, 2020, 07:15:56 PM »
The key is to show utilization, but keep it as low as possible. Being that utilization is calculated by total CL, regardless of number of cards, the trick only needs to be done on one of them. As far as someone with only a single card, why wouldn't they do it on that single card?
Does carrying a balance on Business cards make a difference?

Offline Yo ssi

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Re: Misc Credit Card Questions
« Reply #9621 on: October 27, 2020, 07:30:20 PM »
Does carrying a balance on Business cards make a difference?
No

ETA
According to possibly outdated information it will report to EQ but not the others.
« Last Edit: October 27, 2020, 07:52:01 PM by Yo ssi »

Offline mmgfarb

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Re: Misc Credit Card Questions
« Reply #9622 on: October 27, 2020, 07:41:03 PM »
Does carrying a balance on Business cards make a difference?
No, as long as the card doesn't report to the CB's
"JS [is] a fetid cesspool of unvarnished linguistic manure, with lots of useless drivel and post-padding." -Moishebatchy

Offline bhoaem

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Re: Misc Credit Card Questions
« Reply #9623 on: October 27, 2020, 08:02:43 PM »
I applied for the Chase sapphire preferred which was approved and the Freedom Unlimited was denied.
Upon calling recon they said it was denied because of too many applications submitted for credit. They can resubmit the application for recon but it will need another hard pull.
Does this make sense? Or HUCA?
Called recon twice more. Both times they said that in order to reconsider they would need to hard pull. Also they said that they can't transfer credit from the newly opened CSP. Only possible from an older account.

Offline Yo ssi

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Re: Misc Credit Card Questions
« Reply #9624 on: October 28, 2020, 04:42:19 PM »
To answer @lcm keeping activity annually is for the credit card company, which will close your card otherwise.
Correction:
it seems people have gotten shutdown for cards with no activity within a year, some recommend to have activity on a quarterly basis. Obviously there's no set rule and it's up to the CCC discretion.

Offline CountValentine

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Re: Misc Credit Card Questions
« Reply #9625 on: October 28, 2020, 04:50:42 PM »
Correction:
it seems people have gotten shutdown for cards with no activity within a year, some recommend to have activity on a quarterly basis. Obviously there's no set rule and it's up to the CCC discretion.
Do we have any confirmed cases of being closed for less than year or 6 months?
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline Yo ssi

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Re: Misc Credit Card Questions
« Reply #9626 on: October 28, 2020, 04:51:38 PM »
Do we have any confirmed cases of being closed for less than year or 6 months?
Yes less then a year (Amex)

Offline CountValentine

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Re: Misc Credit Card Questions
« Reply #9627 on: October 28, 2020, 04:52:02 PM »
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch

Offline Yo ssi

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Re: Misc Credit Card Questions
« Reply #9628 on: October 28, 2020, 04:56:25 PM »
Link?
Not a forum member, I'll post more details when I get them.

Offline CountValentine

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Re: Misc Credit Card Questions
« Reply #9629 on: October 28, 2020, 05:00:32 PM »
Not a forum member, I'll post more details when I get them.
Make sure you get the full story.  ;)
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch