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Found 2 results

  1. Since I've seen the light from this board and MyFico.com I now understand that to really help your chances in the future to increase one's current credit line limits it's best to try to run as much through your CC's as possible everyday instead of just using your bank debit card, cash or writing checks. One poster on this board or Myfico (i forgot which one( stated he was running $10-$15K a month on a $5K limit card using this strategy without the cash advances though I think. My question is two fold. To help with mass usage of my credit cards (on all my personal and different businesses I own for day to day, monthly and yearly expenses) will CASH ADVANCES help or hurt me in the eyes of the credit card companies in regards to helping me increase my credit limits? Basically do CC companies see someone that takes cash advances differently then someone that spends the exact same amount on some product or service? Like they're in need of the cash and more of a risk to them. For example instead of paying a contractor for work they do for you with a check you could pay them in cash through a CC cash advance. Yes, you'd get hit with a 2-3% fee. But you would get to run more transactions through your credit cards and thus in theory you would use your CC's more instead of just for purchases of products or services. Again from everything I've read, besides keeping your CC at a zero balance and then leave $2 on one card every month. For maximum chances to increase your credit lines the more transactions the CC companies see you do every month the more likely they are in the future to give you a CLI but also a bigger one correct? Please chime in with your first hand experiences with this. Thanks so much. I'm finally finalizing my Christmas Breaking Bad marathon (watching Season 5 episode 12) so all his cash has got me thinking cash!
  2. Hey CBers hope you are all enjoying your weekend! I have a question regarding BTs and PIF. I normally PIF, sometimes we carry a small balance or balance on a 0 percent special interest. However, I know that most of the advice on this site says to PIF, especially on cards that like to see that, Discover and Barclays in particular, which apply to our personal cc portfolio. My question is, since I also see post on CB saying that users do BTs for the 0 interest specials for 15 or 18 months, are you folks allowing these BTs to sit? If so how do the CC companies view this, since they like to see PIF monthly? My reason for asking is that we have a few BTs to do, one of $11k that we want to PIF, one of $2400 that we want to PIF and one of $3000 that has it's 0 interest special ending in January, since I recently completed an app Spree for DW, I could BT all of it and spread it out over a few cards and PIF within 1st billing cycle. Also, is doing a BT and then PIF within 1st billing cycle also viewed favorably by CC companies (like paying your monthly usage before billing cycle closes)? Just trying to get a strategy down, have been reading and learning from CB for about a year, so I am always trying to improve! Thanks for all your help!
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