i wrote the following email to Ty Crendall bc he is very big on "helping" ppl get biz cred. but the webinars are somewhat misleading. for months i thought that getting high limits on trades that reported to the 3 CRAs would get me bigger and bigger limits. start with net 30s buy $50 for a few months and BOOM. but now that i have some revolving CCs all they report is the 50-100 dollars i have spent...
do i really need to max out these CCs so that it shows a very high "recent high credit"????
even in this forum ive READ EVER SINGLE post going back to 2015... and this subject is never spoken about by the oldies nor understood by us newbies
help us out
hope all is well. first id like to say that thank you for all that you do bc I have learned sooooo much. you are BY FAR the BEST
i have a concern.. the issue is with the lender reports from experian you pull during the webinars. ive heard you refer to the "recent high credit" area as the "credit limits" and that scores are affected by the ratio of balance to limit. how come you havent explained that this number is just the dollar amount spent recently? its not a limit as we are familiar with like in our personal CRs. for example on the Feb 13th webinar you reviewed BONAFIDE CONSTRUCTION and stated that the reason his score was so high because they like to see that high limit and zero balance (minute 21:40)... if you could explain that he actually made a purchase of 1100 and that his true limit could be 10k..and he paid it down. that would be more accurate.
again, at minute 14:27 you mentioned a lesser score was bc "a balance in relation to the credit limit" it was $300/$300... but if we buy 300 worth of stuff every month then how can this ever change? it will always be 100% utilization right?
so as to not confuse us. can you explain that better?? its VERY misleading. when you explain christines file you say that the lenders are increasing her limits higher and higher.. but what is never mentioned is that the limits are actually what christine SPENT on the first few accounts.. the actual credit limits are NEVER shown anywhere so if i have 3 accounts of 5k each but only spent $50 on each then who in the world will give me giant limits??
all they see is $150 limit and $150 owed so 100% utilization.. THIS IS VERY IMPORTANT INFO TO EXPLAIN in my opinion..lol
am i correct on this?
i have 3 CCs on my file. should i nearly max them out then pay them off so i can have some 1k-2k activity??? this is confusing. thanks for the response