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7 months ago
Sun Mar 03, 2024 10:53 pm
BrutalBodyShots
Senior AdministratorGoodwill Saturation Technique Author
BrutalBodyShots has been gardening for over 2 years.
BrutalBodyShots has achieved the Garden Goal !!
BrutalBodyShots has achieved the Garden Goal !!
I just wanted to throw this out there because I've dealt with a ton of push back on reddit on the subject of [not] micromanaging balances and this has come up a lot. As most of you know, I recommend that people use credit cards as designed, 1 monthly payment after statement generation in the amount of the statement balance by the due date. I advise against balance micromanagement and always recommend focusing on the denominator of the utilization equation (growing limits) and not micromanaging the numerator. While most people eventually buy in to this approach for Fico 8, I have come across quite a few detractors that state something like "Well Fico 10T uses trended data, so that's going to be a problem with your higher statement balances."
I'm just posting here to say that's completely untrue, as I have a trio of 850s on Fico 10T currently and have done nothing but allow natural statement balances to report for 3+ years... certainly the entire length of time that 10T looks at. My lowest combined balances any given month are usually around $3k-$4k, where my highest maybe twice a year lands around $13k-$14k. Common for me may look like $3k, $7k, $12k, $4k, etc. across all cards from month to month. I'm just putting it out there that 10T takes no issue with this at all, so balance micromanagement or keeping steady statement balances doesn't seem to be problematic in the least.
I'm just posting here to say that's completely untrue, as I have a trio of 850s on Fico 10T currently and have done nothing but allow natural statement balances to report for 3+ years... certainly the entire length of time that 10T looks at. My lowest combined balances any given month are usually around $3k-$4k, where my highest maybe twice a year lands around $13k-$14k. Common for me may look like $3k, $7k, $12k, $4k, etc. across all cards from month to month. I'm just putting it out there that 10T takes no issue with this at all, so balance micromanagement or keeping steady statement balances doesn't seem to be problematic in the least.
- Tagline Goodwill Saturation Technique Author
- Classic 8 Scorecard CLEAN/THICK/MATURE/NO-NEW-REVOLVER
- Mortgage Scorecard CLEAN/THICK/MATURE/NO-NEW-ACCOUNT
- AoOA 266 months
- AoORA 266 months
- Date of Last Inquiry and/or New Account Opening May 23rd, 2022
- Garden Goal 24