Misc Credit Card Questions

[ydf]

Whats legit spend vs M$ have to do with when you pay your bill? 

Unless you need the float before you actually have the money to pay the balance.

If thats the case, you just need to get AMEX biz cards.  Chase is one of the harder issuers to get biz cards from, AMEX is a walk in the park.  Citi, US bank, FNBO lots of others.  No need to let large business balances hit your personal reports.

You can also shove spend to AMEX personal charge cards, where the reported balances dont affect utilization.

im trying to do the $2 trick to leave all cards closing with $0 balance and just 1 card with $2,if the amex charge cards dont affect utilization, can i just even let 1 charge card report with a large balance and my score will be the same as if i leave 1 credit card with a $2 balance?

[PillanSmye]

im trying to do the $2 trick to leave all cards closing with $0 balance and just 1 card with $2,if the amex charge cards dont affect utilization, can i just even let 1 charge card report with a large balance and my score will be the same as if i leave 1 credit card with a $2 balance?

Should be able to. 

EQ works a little differently in regards to charge cards.  They account for your largest reported balance in your total revolving credit against utilization or something.  Basically taking the highest reported balance and treating that as the credit limit for the charge card.  Really I've never paid attention to how EQ works.  My EQ score is 60-110 points higher than EX and TU, and no one ever pulls EQ for me other than credit unions.

[David Smith]

Should be able to. 

EQ works a little differently in regards to charge cards.  They account for your largest reported balance in your total revolving credit against utilization or something.  Basically taking the highest reported balance and treating that as the credit limit for the charge card.  Really I've never paid attention to how EQ works.  My EQ score is 60-110 points higher than EX and TU, and no one ever pulls EQ for me other than credit unions.

Why such a big difference?  Negatives?

[ydf]

Should be able to. 

EQ works a little differently in regards to charge cards.  They account for your largest reported balance in your total revolving credit against utilization or something.  Basically taking the highest reported balance and treating that as the credit limit for the charge card.  Really I've never paid attention to how EQ works.  My EQ score is 60-110 points higher than EX and TU, and no one ever pulls EQ for me other than credit unions.

so by ex and tu how will it show regarding other cards if i leave a large balance reporting to a charge card?

[PillanSmye]

so by ex and tu how will it show regarding other cards if i leave a large balance reporting to a charge card?

You should be fine score wise.  If someone puts their eyes on your report though, then its an issue.

[PillanSmye]

Why such a big difference?  Negatives?

No tax lien, paid tax lien, unpaid tax lien

The CRA showing a paid tax lien is the truely accurate report, and hence my middle score.

[ydf]

You should be fine score wise.  If someone puts their eyes on your report though, then its an issue.

tnx, but why is it a issue? a issue for what?

[PillanSmye]

tnx, but why is it a issue? a issue for what?

Because an underwriter looking at your reports will see the debt.

[Luvtotravel]

how do i process claim for amex return protection online? its telling me to call in for Special Handling

[benjie1305]

how do i process claim for amex return protection online? its telling me to call in for Special Handling

A) There is a thread dedicated to that.
B) Did you start the claim and they are asking you to call them?

[ezmk]

What does checking your spending power if amex gives  a CL?

[David Smith]

What does checking your spending power if amex gives  a CL?

You are often approved to overspend your limits.

[ezmk]

Just for clarification, even though they gave me a 5k CL I have the power to spend over 13k and they will approve it?

[David Smith]

Just for clarification, even though they gave me a 5k CL I have the power to spend over 13k and they will approve it?

Many people overspend their imposed credit limits.

[ezmk]

Thanks

[Mendylab]

I bought an item on my personal gold, and I actually lost it. I am looking to file a claim under purchase protection, anyone have experience? Any tips? It's it an easy process?

Thanks in advance.

[PillanSmye]

Just for clarification, even though they gave me a 5k CL I have the power to spend over 13k and they will approve it?

Yes, but that extra $8K would be due immediately when your statement cuts.  It's not eligible as a revolving balance.

[srap]

When I get a notice that upon reviewing my account the CC company decided to increase my limit, does that mean they did a hard pull?  If so, have people been successful in requesting them to remove the hard pull from the reporting bureau?

[David Smith]

When I get a notice that upon reviewing my account the CC company decided to increase my limit, does that mean they did a hard pull?  If so, have people been successful in requesting them to remove the hard pull from the reporting bureau?

General rule in life: no company can perform a hard pull without your consent.

[srap]

General rule in life: no company can perform a hard pull without your consent.

I thought the fine print possibly included our blanket consent to periodic hard pulls at their discretion once we have their card.