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I Just Noticed That 14 of My Cards Have Balances

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This may be a record.  14 of our 29 cards currently have balances.

 

I'm a transactor, which means I'm not carrying these balances from month to month, but rather I pay every statement balance in full every month.  

 

Here's the rundown:

 

  1. Amex EveryDay (offers - Sam's Club and Five Guys)
  2. Amex Gold (dining/20% back and trailing general spending for SUB)
  3. Amex Hilton (misc for concurrent Amazon and general spending offers)
  4. Amex Platinum (incidental travel expenses from a trip last month)
  5. Amex SPG (offers - Sam's Club and Etsy)
  6. Bank of America Cash Rewards (one recurring charge moved from Aviator)
  7. Bank of America Travel Rewards (first two recurring charges moved from Aviator)
  8. Barclays Aviator Silver (general spending for final 2018 EQD benefit)
  9. Capital One Quicksilver (two no-cost BTs for sport)
  10. Chase Marriott Premier Plus (one small charge to earn 50k points for upgrading)
  11. Citi Thank You Premier (general spending for SUB)
  12. Discovery IT (5% Amazon purchases)
  13. Navy Federal Flagship (general purchases for SUB)
  14. US Bank Altitude Reserve (4.5% Apple Pay purchases, trailing general spending for SUB)

 

This is the first time so many cards ended up with balances unintentionally.  Intentionally I believe my record is 22 (which I believe was every card I had at the time).

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What is the impact on the FICOs at this point?

 

I stopped paying pre-statement for a while, allowed 8 cards to report balances (2% overall utility) and EX dropped to 845.  So I agree with @athens that at some point the weight of accounts with balances diminishes. 

 

Just don't trigger bust-out flags. :)

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7 hours ago, althes said:

but your score hasn't dipped.

The wonders of a strong file.

My FICO dips when my cards have no activity. It then goes up when I have activity and small balances report. I'm talking only a few points up or down, so it's nothing I really care about.

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Not all of these are statement balances that have hit my reports, but a number of them are.  

 

I was scrolling through the aggregated account view on my Bank of America account, and I noticed how busy I've been with all of my cards.  😛 

 

I don't have an active myFICO subscription so I'm not tracking the minutiae of what's hitting my reports from day to day, but as of 11/7 the FICO from Barclays is 838.  

 

From alerts I've gotten from The Carma and other free services I do know that at least two of the four new credit card accounts I've opened in the past 60 days reported for the first time within the past two weeks.  

 

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Something like two years ago I posted a modest "celebration" that my credit standing was strong enough that I no longer needed to micromanage my credit score (and, among other things could afford multiple outstanding balances as of statement dates or to carry a credit line reporting > 50% utilization).

 

Balances mostly reflect statement PIF's spread across cards maximizing cb/miles benefits.  I also prefer to amortize large purchases at effective APRs of 0%-3% (typically 0% w/ 1%-2% upfront fees), amortized over 1-3 years.  For me, this pretty much functions as a "leash" -- when related mo payments hit a pre-designated cap (a % of budgeted mo discretionary cash outflow), I know it's time to rein in a bit.  We admittedly lack a certain degree of self-discipline ... when we PIF'd all expenditures (drawing on savings as necessary), cash balances would dip without concrete plans to restore them.

 

So, cv mentions myFICO.  DW and I each have an annual quarterly TU subscription grandfathered in at $49.95/yr.  My last report, Aug 19, notes 21 of 41 open accounts with balances.  (FWIW, another 32 closed a/c currently report.)

 

As of this myFICO snapshot, highest revolving utilization was at 94% (CL > $10k).  Overall revolving utilization is 5%.

 

The upshot of this clearly "reckless" credit management:  a "depressed" FICO 8 score of 813.

 

At those times I moderate individual line utilization to a max of 30%, overall utilization to 2%, and reduce reporting balances to < 16 (not sure this is a factor), I score an easy 850.  At best, that gets me bragging rights vs the current 813.

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I've noticed anywhere between a 15-25 point drop when I carry balances on 6 or more cards. But when after the updates, the scores go right back up again where they used to be. The holidays are here and so is spending, so this is expected, but there has never been any adverse action as a result, so no big deal. A strong credit file offsets these annual trends.

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On 11/10/2018 at 6:20 AM, cv91915 said:

This may be a record.  14 of our 29 cards currently have balances.

 

I'm a transactor, which means I'm not carrying these balances from month to month, but rather I pay every statement balance in full every month.  

 

Here's the rundown:

  1. Amex EveryDay (offers - Sam's Club and Five Guys) Paid
  2. Amex Gold (dining/20% back and trailing general spending for SUB)
  3. Amex Hilton (misc for concurrent Amazon and general spending offers)
  4. Amex Platinum (incidental travel expenses from a trip last month)
  5. Amex SPG (offers - Sam's Club and Etsy) Paid
  6. Bank of America Cash Rewards (one recurring charge moved from Aviator)
  7. Bank of America Travel Rewards (first two recurring charges moved from Aviator)
  8. Barclays Aviator Silver (general spending for final 2018 EQD benefit)
  9. Capital One Quicksilver (two no-cost BTs for sport)
  10. Chase Marriott Premier Plus (one small charge to earn 50k points for upgrading) Paid
  11. Citi Thank You Premier (general spending for SUB)
  12. Discovery IT (5% Amazon purchases)
  13. Navy Federal Flagship (general purchases for SUB)
  14. US Bank Altitude Reserve (4.5% Apple Pay purchases, trailing general spending for SUB)

This is the first time so many cards ended up with balances unintentionally.  Intentionally I believe my record is 22 (which I believe was every card I had at the time).

All of these balances are driving me crazy, so I'm taking action (regardless of whether the statement cycle has closed).

 

So far, 14 -> 11

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14 -> 10

  1. Amex EveryDay (offers - Sam's Club and Five Guys) Paid
  2. Amex Gold (dining/20% back and trailing general spending for SUB)
  3. Amex Hilton (misc for concurrent Amazon and general spending offers)
  4. Amex Platinum (incidental travel expenses from a trip last month)
  5. Amex SPG (offers - Sam's Club and Etsy) Paid
  6. Bank of America Cash Rewards (one recurring charge moved from Aviator)
  7. Bank of America Travel Rewards (first two recurring charges moved from Aviator)
  8. Barclays Aviator Silver (general spending for final 2018 EQD benefit) Paid
  9. Capital One Quicksilver (two no-cost BTs for sport)
  10. Chase Marriott Premier Plus (one small charge to earn 50k points for upgrading)Paid
  11. Citi Thank You Premier (general spending for SUB)
  12. Discovery IT (5% Amazon purchases)
  13. Navy Federal Flagship (general purchases for SUB)
  14. US Bank Altitude Reserve (4.5% Apple Pay purchases, trailing general spending for SUB)

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14 > 11 > 10 > 9

  1. Amex EveryDay (offers - Sam's Club and Five Guys) Paid
  2. Amex Gold (dining/20% back and trailing general spending for SUB)
  3. Amex Hilton (misc for concurrent Amazon and general spending offers)
  4. Amex Platinum (incidental travel expenses from a trip last month)
  5. Amex SPG (offers - Sam's Club and Etsy) Paid
  6. Bank of America Cash Rewards (one recurring charge moved from Aviator)
  7. Bank of America Travel Rewards (first two recurring charges moved from Aviator)
  8. Barclays Aviator Silver (general spending for final 2018 EQD benefit) Paid
  9. Capital One Quicksilver (two no-cost BTs for sport)
  10. Chase Marriott Premier Plus (one small charge to earn 50k points for upgrading) Paid
  11. Citi Thank You Premier (general spending for SUB) Paid
  12. Discovery IT (5% Amazon purchases)
  13. Navy Federal Flagship (general purchases for SUB)
  14. US Bank Altitude Reserve (4.5% Apple Pay purchases, trailing general spending for SUB)

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14 > 11 > 10 > 9 > 6

  1. Amex EveryDay (offers - Sam's Club and Five Guys) Paid
  2. Amex Gold (dining/20% back and trailing general spending for SUB)
  3. Amex Hilton (misc for concurrent Amazon and general spending offers)
  4. Amex Platinum (incidental travel expenses from a trip last month) Paid
  5. Amex SPG (offers - Sam's Club and Etsy) Paid
  6. Bank of America Cash Rewards (one recurring charge moved from Aviator)
  7. Bank of America Travel Rewards (first two recurring charges moved from Aviator)
  8. Barclays Aviator Silver (general spending for final 2018 EQD benefit) Paid
  9. Capital One Quicksilver (two no-cost BTs for sport)
  10. Chase Marriott Premier Plus (one small charge to earn 50k points for upgrading) Paid
  11. Citi Thank You Premier (general spending for SUB) Paid
  12. Discovery IT (5% Amazon purchases) Paid
  13. Navy Federal Flagship (general purchases for SUB)
  14. US Bank Altitude Reserve (4.5% Apple Pay purchases, trailing general spending for SUB) Paid
Edited by cv91915

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On 11/13/2018 at 5:24 AM, cv91915 said:

All of these balances are driving me crazy, so I'm taking action (regardless of whether the statement cycle has closed).

 

So far, 14 -> 11

We all need to nurture our OCD nature from time to time ;)

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14 > 11 > 10 > 9 > 6 > 5

  1. Amex EveryDay (offers - Sam's Club and Five Guys) Paid
  2. Amex Gold (dining/20% back and trailing general spending for SUB)
  3. Amex Hilton (misc for concurrent Amazon and general spending offers)
  4. Amex Platinum (incidental travel expenses from a trip last month) Paid
  5. Amex SPG (offers - Sam's Club and Etsy) Paid
  6. Bank of America Cash Rewards (one recurring charge moved from Aviator)
  7. Bank of America Travel Rewards (first two recurring charges moved from Aviator)
  8. Barclays Aviator Silver (general spending for final 2018 EQD benefit) Paid
  9. Capital One Quicksilver (two no-cost BTs for sport) Paid
  10. Chase Marriott Premier Plus (one small charge to earn 50k points for upgrading) Paid
  11. Citi Thank You Premier (general spending for SUB) Paid
  12. Discovery IT (5% Amazon purchases) Paid
  13. Navy Federal Flagship (general purchases for SUB)
  14. US Bank Altitude Reserve (4.5% Apple Pay purchases, trailing general spending for SUB) Paid
Edited by cv91915

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3 hours ago, cv91915 said:

15 now.  :lol: 

 

 

That means you can app for the Vantage 75k!

 

 

 

 

 

 

 

...and be denied for "too many inquiries" instead of "too few accounts with balances".  :lol:

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6 hours ago, Occam said:

That means you can app for the Vantage 75k!

 

 

 

 

 

 

 

...and be denied for "too many inquiries" instead of "too few accounts with balances".  :lol:

OMG, all of my dreams have come true...  😛

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On 12/10/2018 at 6:17 AM, cv91915 said:

15 now.  :lol: 

 

 

I just pushed 8 payments, so I'll be down to 7 cards with balances again shortly. 

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I just paid the $50 Ebates Visa balance and TAD's Citi TY Premier ($100) to avoid statement balances on those two.  

 

The balances on those two were completely static, so that's two fewer bills to pay later. 

 

Other cards with balances:

 

1 - Amex Gold ($100, dining)

2 - Amex Hilton ($700, household/Amazon - spending offers now completed)

3 - Amex SPG ($500, household - working toward $2,000 for retention bonus)

4 - Bank of America Cash Rewards ($300, tank of gas and dry cleaning)

5 - Bank of America Premier Rewards/TAD's ($95 AF just posted)

6 - Bank of America Travel Rewards ($300, recurring charges moved from Aviator)

7 - Discovery IT (exactly $2)

8 - Navy Federal Flagship ($400, household - final spending to earn SUB)

9 - US Bank Altitude Reserve ($100, groceries with Apple Pay for 4.5% back)

 

I have an Arrival+ waiting for me at the Mud Hut, ready for SUB spending beginning on 12/28.

 

 

Edited by cv91915

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On 12/19/2018 at 5:27 AM, cv91915 said:

 

1 - Amex Gold ($100, dining)

2 - Amex Hilton ($700, household/Amazon - spending offers now completed)

3 - Amex SPG ($500, household - working toward $2,000 for retention bonus)

4 - Bank of America Cash Rewards ($300, tank of gas and dry cleaning)

4 - Bank of America Premier Rewards/TAD's ($95 AF just posted)

5 - Bank of America Travel Rewards ($300, recurring charges moved from Aviator)

7 - Discovery IT (exactly $2)

6 - Navy Federal Flagship ($400, household - final spending to earn SUB)

7 - US Bank Altitude Reserve ($100, groceries with Apple Pay for 4.5% back)

 

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1 - Amex Gold ($100, dining)

2 - Amex Hilton ($700, household/Amazon - spending offers now completed)

3 - Amex SPG ($500, household - working toward $2,000 for retention bonus)

4 - Bank of America Cash Rewards ($300, tank of gas and dry cleaning)

4 - Bank of America Premier Rewards/TAD's ($95 AF just posted)

5 - Bank of America Travel Rewards ($300, recurring charges moved from Aviator)

7 - Discovery IT (exactly $2)

6 - Navy Federal Flagship ($400, household - final spending to earn SUB)

7 - US Bank Altitude Reserve ($100, groceries with Apple Pay for 4.5% back)

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Missed one.

 

1 - Amex Gold ($100, dining)

2 - Amex Hilton ($700, household/Amazon - spending offers now completed)

3 - Amex SPG ($500, household - working toward $2,000 for retention bonus)

4 - Bank of America Cash Rewards ($300, tank of gas and dry cleaning)

4 - Bank of America Premier Rewards/TAD's ($95 AF just posted)

5 - Bank of America Travel Rewards ($300, recurring charges moved from Aviator)

6 - Chase Sapphire Reserve ($100, misc dining)

7 - Discovery IT (exactly $2)

7 - Navy Federal Flagship ($400, household - final spending to earn SUB)

7 - US Bank Altitude Reserve ($100, groceries with Apple Pay for 4.5% back)

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