madcrapper Posted March 5, 2005 Report Share Posted March 5, 2005 OK, so we know that some folks dont report the credit limit to the CRAs, thus your utilization is hurt. Those that I can remember are Kay's Jewlers and Crap 1, I remember these two becasue I have both. Now since they do not report the CL but do report the High Credit, can you raise your HC value for one cycle, pay that off and then when you credit score is calculated your HC takes the place of your non-reported CL?This is how I read it, I just want to make sure before I go in and blow a wad in Kay Jewlers... Link to comment Share on other sites More sharing options...
utman17 Posted March 5, 2005 Report Share Posted March 5, 2005 Yes, just make sure and dont pay it off to quickly, let it report and then pay it off... Link to comment Share on other sites More sharing options...
credithelp Posted March 5, 2005 Report Share Posted March 5, 2005 I did that with my cap1 card and gained around 30 points right up front just for getting the utilization down. Instead of my credit limit hovering around my balance all the time, the balance is much lower than the high limit. Can't wait to be able to pay even more on it to help the utilization further. Link to comment Share on other sites More sharing options...
creditlaw Posted March 6, 2005 Report Share Posted March 6, 2005 im still learning but this helps me understand Link to comment Share on other sites More sharing options...
JethroBo Posted March 6, 2005 Report Share Posted March 6, 2005 SO dont pay your balance on it every month? Link to comment Share on other sites More sharing options...
jq26 Posted March 7, 2005 Report Share Posted March 7, 2005 Target Guest card does the same thing. I have a Guest card with a $20 high balance, but a $300 limit. I paid it in full last week and sure enough, it is reflected today in my scores. Since Exp and TU report the limit as $300, it had only a very minor effect, like +2 points. But Equifax score jumped +8 points, proving that they are using high balance to calculate limit. Equifax had my card at 100% util, now it is 0%.To Jethro- I think what he is saying is to use the card, but make sure the statement closes before you pay the balance. You don't want to buy a bunch of sh*t then find out that the high balance never even changed since you paid it too quickly. You still won't pay a dime in interest. OR you could buy items equal to your limit on the card, wait for the statement date to pass, then take it back. Link to comment Share on other sites More sharing options...
devil21 Posted March 7, 2005 Report Share Posted March 7, 2005 Hmm, my understanding is that high balance is just that, high balance. Not high balance as of the billing date but overall. You can just peg the card to the max and pay it off immediately and still have it report as high balance. Link to comment Share on other sites More sharing options...
gprncss Posted March 9, 2005 Report Share Posted March 9, 2005 Hmm, my understanding is that high balance is just that, high balance. Not high balance as of the billing date but overall. You can just peg the card to the max and pay it off immediately and still have it report as high balance.yes overall, but since Cap1 does not report your CL, best to let them report your balance first so it's recorded before paying it down or off. This way, it will be the high balance until such time you go over that amount if you ever do. Link to comment Share on other sites More sharing options...
devil21 Posted March 9, 2005 Report Share Posted March 9, 2005 What Im saying is that Cap1 doesnt care how LONG its your high balance just as long as its your high balance for some period. I maxed one of mine and paid it off next day. It reported 2 weeks later as high balance. Link to comment Share on other sites More sharing options...
madcrapper Posted March 19, 2005 Author Report Share Posted March 19, 2005 I found the same with Cap1. You must not cycle a high balance to have it report. You must only reach a high balance at any given point and regardless of when you pay it off it reports. You can pay before or after your cycle. Its like an instant flash... Link to comment Share on other sites More sharing options...
score booster Posted March 19, 2005 Report Share Posted March 19, 2005 That's correct-you could theoretically charge it up and pay it down to zero, online the next day, and the high balance will report on the next report to the cras and every reporting thereafter. Link to comment Share on other sites More sharing options...
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