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Credit Bureau Info:

Experian: 800-493-1058 With A Report Number

Experian: 714-830-7000 (Without A Report Number) Call and Press 0. You will get connected to the switchboard operator. Tell them you just called in and entered your report number and the automated system disconnected you. Ask them if they can get a human on the line for disputes. That's the only way you'll be able to get through to a live person at Experian without a Report Number.

Equifax: 800-846-5279

TransUnion: 800-916-8800


Comparison between FAKO from Credit karma and FICO from Barclays and Citi.


Cards that give you free monthly FICO's


AMEX personal cards = EX 08 Switched to FAKO (VantageScore 3.0)
Chase Slate = EX (either 08 or Bankcard enhanced)
PSECU = EX 04

Citi branded cards = EQ 08 Bankcard enhanced
Citi AA = EQ bankcard enhanced
DCU= EQ 04
PenFed = EQ NextGen
Elements Financial (Credit Union, score available for without opening CC) = EQ 5

Barclays = TU 08
Discover it = TU 08
Walmart (store or MC) = TU 08
« Last edited by Lev26 on April 13, 2022, 02:28:07 AM »

Author Topic: credit score  (Read 809217 times)

Offline yochiek93

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Re: credit score
« Reply #1320 on: November 12, 2015, 12:48:42 AM »
So basically, everyone that does this $2/$3 trick is sending in a payment each time they swipe their card? I thought people just pay off the whole balance a day or two before the statement closes...
+1 thought the same

Offline Zalc

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Re: credit score
« Reply #1321 on: November 12, 2015, 12:52:51 AM »
So basically, everyone that does this $2/$3 trick is sending in a payment each time they swipe their card? I thought people just pay off the whole balance a day or two before the statement closes...
Not at all.

The way I understood it: Most banks only update the report when the statement prints (and chase updates whenever you pay).

Therefore when your credit pulls, the puller will only see your latest statement amount on all your cards.

So you can still have a balance on multiple cards while only letting one card show a balance on your report.

Question: Are there any banks that update balances before your statements that I should keep an eye on?

Offline CS91

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Re: credit score
« Reply #1322 on: November 12, 2015, 12:55:20 AM »
Not at all.

The way I understood it: Most banks only update the report when the statement prints (and chase updates whenever you pay).

Therefore when your credit pulls, the puller will only see your latest statement amount on all your cards.

So you can still have a balance on multiple cards whole only letting one card show a balance on your report.

Question: Are there any banks that update balances before your statements that I should keep an eye on?

So basically, if I set all my cards to close on the 15th of the month, and on the 13th I pay all of them off in full except for one and leave $2 (not Discover) outstanding on that one card, I'll be doing the $2/$3 trick successfully? I know it's been discussed here in length but would love to get a clear answer from someone who does this on a consistent basis because I'm trying to really raise my score before I apply to refinance my student loans in a few months...

Offline Mendelssohn

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Re: credit score
« Reply #1323 on: November 12, 2015, 04:13:54 AM »
So basically, if I set all my cards to close on the 15th of the month, and on the 13th I pay all of them off in full except for one and leave $2 (not Discover) outstanding on that one card, I'll be doing the $2/$3 trick successfully? I know it's been discussed here in length but would love to get a clear answer from someone who does this on a consistent basis because I'm trying to really raise my score before I apply to refinance my student loans in a few months...

Yes.

Offline PillanSmye

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Re: credit score
« Reply #1324 on: November 12, 2015, 08:51:41 AM »
Not at all.

The way I understood it: Most banks only update the report when the statement prints (and chase updates whenever you pay).

Therefore when your credit pulls, the puller will only see your latest statement amount on all your cards.

So you can still have a balance on multiple cards while only letting one card show a balance on your report.

Question: Are there any banks that update balances before your statements that I should keep an eye on?
  That's exactly it.  The issuers furnish information to the CRA's.  Generally, this is when your statement cuts.

Chase will also furnish account info to the CRA's when you PIF.

DCU furnishes their info on the 1st of the month.

BofA likes to report everything.  They will furnish new info often immediately if you get a CLI, PC a card, make a big charge, or get close to your credit limits.


Offline D93

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Re: credit score
« Reply #1325 on: November 12, 2015, 09:08:09 AM »
For some reason Chase (in PA, if it matters) doesn't report less than a $5 balance on my reports.

Offline Mendelssohn

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Re: credit score
« Reply #1326 on: November 12, 2015, 09:10:55 AM »
  That's exactly it.  The issuers furnish information to the CRA's.  Generally, this is when your statement cuts.

Chase will also furnish account info to the CRA's when you PIF.

DCU furnishes their info on the 1st of the month.

BofA likes to report everything.  They will furnish new info often immediately if you get a CLI, PC a card, make a big charge, or get close to your credit limits.

DCU is the last day of the month.

Offline CS91

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Re: credit score
« Reply #1327 on: November 12, 2015, 09:13:52 AM »
For some reason Chase (in PA, if it matters) doesn't report less than a $5 balance on my reports.

So if the card that I'm leaving a balance on is a Chase card, I should leave $5?

Offline D93

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Re: credit score
« Reply #1328 on: November 12, 2015, 09:15:21 AM »
So if the card that I'm leaving a balance on is a Chase card, I should leave $5?

Have you ever left less than $5 on a Chase card? If yes, take a look at your reports and see if they reported it.

Offline Mendelssohn

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Re: credit score
« Reply #1329 on: November 12, 2015, 09:16:16 AM »
So if the card that I'm leaving a balance on is a Chase card, I should leave $5?

If that's how it works for you, yes.

The goal is to get the smallest amount possible to report on a single card.  $2 is reliable for most cards since smaller amounts are quite frequently credited to $0.  Obviously this varies by issuer, and you need to figure out what works.

If you do this, you get the most points possible from FICO for the utilization portion of your score.

Offline CS91

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Re: credit score
« Reply #1330 on: November 12, 2015, 09:41:06 AM »
Have you ever left less than $5 on a Chase card?

I've never done that. I never let the statement close with a high balance, so if I'm MSing on a card, I'll pay most of it before the statement, but never less than $5.

Offline Mendelssohn

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Re: credit score
« Reply #1331 on: November 12, 2015, 11:18:56 AM »
Chase is not an ideal card to use anyway since they often report mid-cycle if you pay your account.

As already mentioned, your FICO scores are generated the moment a score is requested, so having a card update mid-cycle to $0 is not desirable.

Offline CS91

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Re: credit score
« Reply #1332 on: November 12, 2015, 11:22:52 AM »
Chase is not an ideal card to use anyway since they often report mid-cycle if you pay your account.

As already mentioned, your FICO scores are generated the moment a score is requested, so having a card update mid-cycle to $0 is not desirable.

Ok so if I use an Amex card to leave a $2 balance, what should I do with my Chase cards? Just submit one payment for the full balance a couple of days before statement closes?

Offline yochiek93

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Re: credit score
« Reply #1333 on: November 12, 2015, 12:07:55 PM »
Chase is not an ideal card to use anyway since they often report mid-cycle if you pay your account.

As already mentioned, your FICO scores are generated the moment a score is requested, so having a card update mid-cycle to $0 is not desirable.
So what exactly should be done to get the most out of the $2 trick

Offline Mendelssohn

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Re: credit score
« Reply #1334 on: November 12, 2015, 01:07:14 PM »
Assuming clean reports, $2 on a card that will not update to $0 mid cycle when paid.

You want this reporting every day of the month.

Offline yochiek93

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Re: credit score
« Reply #1335 on: November 12, 2015, 01:11:07 PM »
Assuming clean reports, $2 on a card that will not update to $0 mid cycle when paid.

You want this reporting every day of the month.
But if chase is randomly reporting.... Then how can you always make sure that you only have $2 and that's all?

Offline CS91

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Re: credit score
« Reply #1336 on: November 12, 2015, 01:11:42 PM »
But if chase is randomly reporting.... Then how can you always make sure that you only have $2 and that's all?

Happy to see I'm not the only one that is super confused.  :D

Offline noturbizniss

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Re: credit score
« Reply #1337 on: November 12, 2015, 01:27:45 PM »
How do negative balances impact the scores?
READ THE DARN WIKI!!!!

Chuck Norris...
...can still do FT method
...READS THE WIKI!!!

Offline etech0

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Re: credit score
« Reply #1338 on: November 12, 2015, 01:39:39 PM »
So I need to set it up so that right when I pay the $2, another statement posts with $2?
Workflowy. You won't know what you're missing until you try it.

Offline D93

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Re: credit score
« Reply #1339 on: November 12, 2015, 01:41:16 PM »
How do negative balances impact the scores?

On my reports - Amex reports negative balances as $0