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archimaybe

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  1. I've heard credible-sounding reports that Amex likes you to PIF every month. I have not heard any credible report indicating that it matters whether you pay before or after the statement posts so long as you pay before the due date. Personally, I suspect that Amex likes you just as much either way. FICO 9 doesn't factor utilization for charge cards. FICO 04 does. Not sure about FICO 8. Anyway, you have to wait for the statement to post before PIF on Amex cards for the high balance to be reported to the CRAs, so you may want to do that at least once when you have a high balance, since the older FICO score models are still used in mortgages, etc.
  2. Chase can be a bit stingy if you don't have 6 months revolving history on at least one open revolving account. However, it looks like your scores and history are pretty good. Are your reports totally clean? (Sounds like it based on your FICO.) If so, I think you will probably be approved because your file really isn't that thin and will show a long payment history. Why not check their pre-qual site?
  3. O I would strongly advise against more than two payments per billing cycle. Good reading can be found here: https://creditboards.com/forums/index.php?showtopic=317387&hl=%2Bmultiple+%2Bpayments And reading about perceived experience to the contrary: https://creditboards.com/forums/index.php?showtopic=251092&hl=%2Bmultiple+%2Bpayments In short, YMMV and you're free to test the limits as you wish. Thanks for linking to those threads, Big Bear. It seems this issue has definitely come up before. However, I will note that nowhere in those threads did anyone indicate that they had received any adverse action from making multiple payments per month. That is not to say that it couldn't be a factor, but even the Experian doc that I linked to earlier identifies one risk factor as making "multiple payments within one billing period from different accounts and different sources." (Emphasis added.) It seems that merely making multiple payments from one linked account is excluded as a risk factor. It is undisputed that at least for now, a creditor cannot determine from your credit report whether you are making multiple payments on another creditor's account (rather, the payments you made are aggregated and displayed at though they were a single payment). Therefore, the only AA that you could potentially risk would be from the individual creditor to whom you are making multiple payments. My evidence is only anecdotal, but I will remark that according to the risk analysis presented in the Experian white paper, I probably look like the perfect candidate for bust-out fraud. I have no mortgage or auto tradelines, and I have hundreds of thousands of dollars in credit amassed in a short time that consists almost exclusively of bank cards. And I tend to pay multiple times per month, sometimes for absurdly low amounts (like, $5.93, or whatever will zero out the account when I make my rounds). Yet I have had no AA, all of my accounts are greater than $10k, and have even received auto-CLIs from several lenders throughout this time. As to the points raised by others that relate to financial habits (such as the insinuation that paying multiple times per month is an indicator of financial irresponsibility), I would respond with the observation that this is not the 90s. If you are receiving paper statements and hand-writing multiple checks per month, then you are probably doing it wrong and either wasting time or in financial distress. But these days, monitoring all your accounts in one place is easy and paying them takes seconds. IMO, it is a good habit to check your financial accounts weekly, especially if you have hundreds of thousands of dollars in credit (ironically, in the context of this discussion, because it will enable you to detect fraud more rapidly). If paying them only costs you a few extra seconds, why not? The old paradigm of waiting for a statement and tracking due dates / cut dates is no longer necessary in the Internet era. Just my two cents.
  4. A type of fraud where a cardholder gets a bunch of bank cards (usually about 10), works for 6 months to two years building up the lines and showing ideal payment history, and then suddenly maxes them all and disappears. The problem is that many of us could look on review as though we fit the profile, so if it is true that making multiple payments per month is considered an indicator, then that sort of behavior should arguably be avoided. Here is an Experian white paper on bust-out fraud: http://www.experian.com/assets/decision-analytics/white-papers/bust-out-fraud-white-paper.pdf
  5. I considered snagging the Fidelity Amex as a fall-through 2% card, but I concluded that the Citi Double Cash was better.
  6. That's awesome, financeman. Thanks for sharing the blow-by-blow effect on your credit. What's your next move?
  7. Well, for the rewards, of course. Cash is subprime, and I never intend to pay a cent of credit card interest. With all of the free tools (like Mint and Mint Bills, or the account monitoring / bill pay services offered by many banks), it's a snap to pay down your cards at the same time that you are reviewing your accounts. Once you have more than seven or so cards, waiting for the statement is more of a hassle than it's worth. I review all of my accounts weekly, and usually zero out the balances with a push payment at the same time. It takes thirty seconds. I've been doing this with all of my cards for more than a year, and have never had any adverse action as a result.
  8. archimaybe

    NASA FCU

    Does NASA use FICO 08 or FICO 04 or what? I apped in September of last year and they used FICO 04.
  9. Huh. Don't mean to derail the thread, but this is interesting. I remember back when the purported credit analyst was here about a year ago, he/she said that their bank did not care at all how frequently payments were being made on revolving accounts. Of course, that poster doesn't speak for all banks, and further, fraud departments probably look for different things than credit analysts. It's hard for me to understand why weekly payments would be predictive of a bust-out. That would be of particular interest to many of us here who have amassed a large amount of credit in a short amount of time without carrying balances, as we would tend to fit the profile of a potential bust-out fraudster. If paying too frequently also fits into the mix, I guess I should avoid it. I'm interested to learn if you have any more information.
  10. archimaybe

    CLI Spree

    I'd guess so. Additionally, I also suppose that there had to have been a fair amount of spend on that SM. Even so, those are extremely impressive CLIs.
  11. Can't put my finger on why exactly, but I find this story very amusing.
  12. Well, to the extent that anyone else previously thought that the 3x was automatic under 25k, it appears that notion has been put to bed. Although now I'm even wondering if your utilization was really a factor. I'm pretty sure that they didn't soft me for my CLI, but just used a month-old account review soft. Do you know whether you got softed for the CLI request? If they used an old AR soft, your util might not have even been reporting yet.
  13. Five Amices in five months? You must like to live dangerously. Are these all cards direct from Amex, or are some co-branded? If the former, I assume three are revolvers because I thought that you could never have more than three Amex revolvers. The folklore also says that you should stay away from that "check spending ability" button, FWIW. But that 35k limit is a very interesting data point, thanks.
  14. Well, let me preface my answer by noting that as PotO pointed out, this information is probably better characterized as folklore than fact. That said, the folklore is that the charge cards do not count toward the 35k total exposure threshold that supposedly subjects you to an increased risk of income verification or F/R.

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