$2 trick to increase FICO score.

[Mordyk]

According to what Mendelssonhn explained, maybe you don't need to wait a full month. If you have more than 1 Chase card that reported a balance, you can just pay down to $0 all of them except for 1, so they'll report it mid-cycle, and leave the 1 with the lowest balance unpaid.

Again, why to $0 on chase? Doesnt it negatively affect?

[newdealseeker]

Again, why to $0 on chase? Doesnt it negatively affect?

Not if you have 1 card as the $2 trick. All others can be $0. Just saying you can do that in the mean time to help you for this month only. For next month start strategizing now...
And also make sure to pay that last card by the due date!!

[Mendelssohn]

The "$2" in the trick part seems to really have some confused. Should probably rename this trick.

$2 on 1 card.

Not really that confusing.

[nateinva]

$2 on 1 card.

Not really that confusing.

+1

[noturbizniss]

Damn amex! Hit me with an annual fee on statement closing date. And it didn't show up  till after I  closed so there goes this month!

[deltastubs]

haha same with my amex plat, thats a charge card though so no difference
citi att is a credit card though, happened to me there this past saturday

[newdealseeker]

haha same with my amex plat, thats a charge card though so no difference
citi att is a credit card though, happened to me there this past saturday

I wonder if it really doesn't make a difference. After all it does show up on your report. But then again, how would they figure the utiltization ratio if there's no limit

[ari2955]

I wonder if it really doesn't make a difference. After all it does show up on your report. But then again, how would they figure the utiltization ratio if there's no limit

With amex chargecards, they report to the CB your highest balance ever on the card, as your credit line.

[JTZ]

$2 on 1 card.

Not really that confusing.

Discover is $3. Charge cards don't work. Some cards you can do $1. Chase you need two cards with different statement closing dates. I can go on but won't.

While this is not confusing to you it is to most here.

[Mendelssohn]

Discover is $3. Charge cards don't work. Some cards you can do $1. Chase you need two cards with different statement closing dates. I can go on but won't.

While this is not confusing to you it is to most here.

Because most people here didn't take the time to learn about credit.

[Mendelssohn]

I just updated the wiki.

[JTZ]

Because most people here didn't take the time to learn about credit.

I am not disagreeing.

[JTZ]

I just updated the wiki.

Very nice job!

Now you can just say read the wiki when the same question gets asked over and over. 

[PillanSmye]

.

[noturbizniss]

haha same with my amex plat, thats a charge card though so no difference
citi att is a credit card though, happened to me there this past saturday

Difference is I have a card with 2 dollar balance and Amex went and screwed up my zero dollar closing balance.

[noturbizniss]

Wiki says charge cards are not counted toward utilization ratio. Does that mean if I have 2 cards, on with say a 1k limit and a closing balance of zero, and a new charge card with a  first statement closing balance of zero, the ratio will factor out as zero, and not 50% overall, and 100%on the charge card?

[Mendelssohn]

Wiki says charge cards are not counted toward utilization ratio. Does that mean if I have 2 cards, on with say a 1k limit and a closing balance of zero, and a new charge card with a  first statement closing balance of zero, the ratio will factor out as zero, and not 50% overall, and 100%on the charge card?

Read the wiki. 

I've made this as simple as possible.  Just follow the directions and only use a card that is recommended.

[newdealseeker]

I just updated the wiki.

Very clear now.

[JTZ]

Read the wiki. 

I've made this as simple as possible.  Just follow the directions and only use a card that is recommended.

It seems his question is more about utilization and not the trick.

[noturbizniss]

Read the wiki. 

I've made this as simple as possible.  Just follow the directions and only use a card that is recommended.

I'm not using charge for this. My question was more general, about the nature of utilization reporting for charge cards . wanted to be sure I understood what it is saying.