Scores increase-credit card usage

So I know this is probably a broad question but was trying to find some feedback on the scoring changes to the positive side when using your credit cards to try and bump up that FICO score. Typically what have you guys experienced as score increases by using your cards and what are your normal ebs and flows, do you PIF every month, save a little balance, do you use every card in your portfolio or do you just rotate a couple???? Obviously we all have different CL's and utilizations but based on your util what kind of increases do you see? I apologize up front if this has been covered or if this is in the wrong location. I took a break and just recently came back to the boards for some information covering different topics. I am currently trying to hit a target of 820, sitting at about 770 right now. Just added a new AMEX card to my stable and it will be heavily used and PIF every month until I get my sign on bonus and that great 3xCLI, hopefully lol. I guess I'm trying to figure out what kind of sweet spot people see as a guide in increasing their scores. I'm not looking to do this overnight because based on my experiences my scores have gradually increased over the long term. I'm in the garden for a while probably because I'm not looking to add a bunch of new cards or even loans. Cards are all paid off and typically I PIF. Thx for feedback

For the best Fico scoring, they say to only let one card report less than 9% util, and let all others report at 0%. The util. that will hurt your score (trust me I know) is letting even one account go over 30% util. (even if you total util. is less than 9%, that one card over 30% will ding your score.. the higher % over the greater the ding).

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Credit card usage functionality in sd module

Hi Experts,
Our client provides multiple services to customers. In those cases,client creates Sales order for the work and subsequently sends them bill with respect to that sales order.
People use different types of methods to pay that bill to client. One of the ways of the payment is via Credit Card.
In above scenario how can we get money from bank against credit card transaction? Is there any standard way available in SAP ??
What need to configure to achieve above scenario in the system.
Can you please explain step by step for this settings.
Regards

Hi,
I did not work on this area, but to start with you can check the link [Payment Card Processing (SD-BIL-IV)|http://help.sap.com/saphelp_47x200/helpdata/en/93/7452dd546011d1a7020000e829fd11/frameset.htm]
[Forum thread|Credit card integration in SD;
Regards

Credit Card- Usage in SAP

Hi Experts,
How can credit cards can be used in SAP.
And what is the infrastructure required by SAP to acces it by web.
Thanks in Advacne
Regards,
Irfan

Hi Experts,
How can credit cards can be used in SAP.
And what is the infrastructure required by SAP to acces it by web.
Thanks in Advacne
Regards,
Irfan

What kind of credit card usage led to a credit limit increase for you?

What type of spending behavior led to your credit limit increases? (Ie zero balance, high usage with early payments, 9%, 30%, ect). Were they notable increases? What time frame did the increases occur in?

As others have noted, there is no set formula, it depends on the lender (and perhaps involves some voodoo or superstition) I got an AMEX Delta Gold card in June 2013, with a $2k limit, and put $4,500 through the first 11 months. Always letting the balance report on the statement, always PIF close to the payment due date. Then purposefully maxed it out twice, reaching $1,800 in early June 2014, then up to $1,300 again in mid-June when they gave my an auto CLI to $3k. My BofA AMEX card, back in the day, had been auto CLI up to $28,800 in April 2008, so I used $21,800 of it. Then they started CLD:Jan 2009, $21,700 (these are all CL, not balances), though the balances were only a few hundred under each step down in CL, the true Balance Chasing scenario)Apr 2009, $20,500Sept 2010, $17,300May 2011, $16,000Jan 2013, $12,700Then in August 2014, I got a 0% offer from US Bank, so I cleared off all the remaining $12k from this BofA AMEX, and in October 2014 moved a total of $10,700 back onto this card on a new 0% 18+ month offer. Proceeded to make some large payments on that. In Feb 2015, got a $3k CLI on this BofA AMEX, from $12,700 to $15,700. Needless to say, it was a good day

Usage of Credit Cards in Sap

Hi,
Can someone please explain the process of the usage of credit cards in Sap and how is it used with t codes. Also please explain what documents i need to create for the credit card process.Good anwers would be rewarded with points.
Regards
Atul Keshav

The process in SAP as per credit card usage starts from the interface you have to built with the card service provider/Bank, as they are the one's who are providing that facility so to built that abapers will be required as per SD point of view you have to configure the settings in SPRO --> Sales & Distribution --> Billing -->Payment Cards , then define & assign accordingly.
In the SO, you can see entering the payment card option.
Rewards if it helps
Regards,
N

Credit card orders restrict

Hi,
We have a requirement where we need to restrict the credit card sales orders for certian customers. for example customer A should not be able to book a order using a credit card. we are using the standard order OR for all credit card related activities.
is there any standard way of restricting the credit card usage.

Hello Colleague;
Below, you can find a information which confirm that the authorization of paymente card can only be done in the sales order:
With the authorization functions in payment card processing, you can:
*Set the system to authorize sales orders according to a certain set of requirements
*Preauthorize sales orders
*Automatically authorise sales orders
*Manually authorise sales orders
*Determine which colleagues are permitted to manually authorize sales orders (authorization profile V_VBAK_AAT)
*Run a report to carry out authorizations in batch ( RV21A010 )
*Run a report to call up a list of sales orders with payment cards according to document features that you specify ( RV21A001 (transaction VCC1)
*Display complete current authorization information in the payment card plan
*Use the authorization log to check the history of authorization changes in a sales order, including change dates and responsible parties (Choose Environment -> Changes)
Authorization is done when you save the order.
MV45AF0B_BELEG_BEARBEITEN_ENDE  MV45AF0Z_ZAHLUNGSKARTEN_AUTHOR
I hope this information can help you.
regards
Ruy Castro

Bank is offering to increase my credit limit on 2 credit cards - good or bad idea?

My bank is offering to increase my credit limit on 2 credit cards.I have an excellent credit score, and already have more than enough credit limit available on my credit cards.I know that a higher limit would make for a better credit score when there is some debt on the cards.HOWEVER - What I'd like to know:Is it ever a bad idea to accept a credit limit increase offer from a bank / credit card issuer?Also - Can a too high of a credit limit affect ones ability to get a mortgage or other loans? Thanks!

SeattleGuy1968 wrote:
My bank is offering to increase my credit limit on 2 credit cards.I have an excellent credit score, and already have more than enough credit limit available on my credit cards.I know that a higher limit would make for a better credit score when there is some debt on the cards.HOWEVER - What I'd like to know:Is it ever a bad idea to accept a credit limit increase offer from a bank / credit card issuer?Also - Can a too high of a credit limit affect ones ability to get a mortgage or other loans? Thanks!Depends how much debt we're talking about, 1% is still basically 1% even increasing your aggregate CL massively. Doesn't matter for FICO if your balances aren't there, might matter for Vantage Score if you care about such things. As for a bad idea, no not really unless some future lender figures you're overextended. Personally I don't limit chase just to limit chase, there are certain cards I want a high limit on (travel card, default spend card, and balance carrying cards to be explicit), and others such as my Freedom at 1K I couldn't care less what it was as I only use it for 5% rewards and it'd be rare for me to get a >1K purchase other than maybe Amazon during the holidays. Limits are irrelevant for mortgages and most other loans, the key there is your FICO score and your DTI ratio, and there the minimum payment amount counts, not the potential maximum. FWIW in the current market there's people with 4-5X their income in card limits on this forum, that may not be a fantastic idea for most people, but current market doesn't really matter and as such I'd probably accept them personally. There are some people who chase credit card signup bonuses, and for those, limiting their current amount of available credit might sway an underwriting decision in their direction, and as such they might wish to decline, I just haven't ever done that... yet at least .

Credit Score Drop & Credit Limit Increase.

This morning I had 7 points drop from my credit score. This past month I decided to pay off a 10 year student loan early thinking it would help my credit score. I know it has helped my financial situation but has given my credit score a hit. I am thinking I got the hit because I closed the account out which significantly lowered my AAOA. I have a auto loan that I am currently paying off and the loan ends in about 2 years. Ive been going back and forth about paying off this also, but since I got the hit I just decided not to and just wait the 2 years. In my report I have 1 missed payment waiting to fall off next month, and after that I am pretty set. I have been also itching for another credit card. At the moment I only have one card which is my Barclaycard. What are your thoughts on opening up another one? I know it'll drop my score but I am thinking that I need to replace my loan with something beneficial such as another credit card. I am just not sure if that is a good thing. This morning I checked my Barclaycard statement and realized that they increased my credit limit. I started off with $1000 and they gave me a credit limit of $3500. So my question is how will this affect my credit score? I am on the road of rebuilding my credit. I started this road in the low 500's and within a few months I was able to get my score up to the low 700's with the help of this forum and advice. I would hate to see myself go backwards again. Any advice would be great.

hazeboo wrote:
This morning I had 7 points drop from my credit score. This past month I decided to pay off a 10 year student loan early thinking it would help my credit score. I know it has helped my financial situation but has given my credit score a hit. I am thinking I got the hit because I closed the account out which significantly lowered my AAOA. I have a auto loan that I am currently paying off and the loan ends in about 2 years. Ive been going back and forth about paying off this also, but since I got the hit I just decided not to and just wait the 2 years. In my report I have 1 missed payment waiting to fall off next month, and after that I am pretty set. I have been also itching for another credit card. At the moment I only have one card which is my Barclaycard. What are your thoughts on opening up another one? I know it'll drop my score but I am thinking that I need to replace my loan with something beneficial such as another credit card. I am just not sure if that is a good thing. This morning I checked my Barclaycard statement and realized that they increased my credit limit. I started off with $1000 and they gave me a credit limit of $3500. So my question is how will this affect my credit score? I am on the road of rebuilding my credit. I started this road in the low 500's and within a few months I was able to get my score up to the low 700's with the help of this forum and advice. I would hate to see myself go backwards again. Any advice would be great. Your AAOA doesnt get affected, it will still count towards your AAOA for 10 yrs from the time of closing.The credit line increase will not hurt your credit scores. If youre going to apply for another CC, i would wait until your CR repoets $0 balance/account closeed/paid as agreed. If you're score went down for paying the school loan off, it should go back up soon...doesnt make sense. When i got my two auto increases with Barclay, they HP me...maybe it changed but i would check and make sure they didnt do that. If they did, i would dispute that you didnt give them permission for auto HP increase. Worked with my wife. Anyonre?

High credit score increase in one month after discharge

I was shocked to see my score went from a 500 something to a 677 in just one month after my discharge was complete. Everything on my account has been cleared except for two credit cards that I was an authorized user for which I included on my bankruptcy petition. I called Chase and they said they will remove both of the cards for me. My question is .. will my score hang around that level now if I don’t have any means of credit? I have a motorcycle loan that I signed a reaffirmation agreement for but I don’t think they are reporting to the three credit agencies anymore. I would like to keep my score somewhat fair because I will be getting an aprtment soon and possibly will need a used car loan in the near future.

NC84 wrote:
Karma ) :These are Vanage Scores and only a handful of lenders use them. Ficos are the ones that most lenders use and matter. You need to reestablish credit ASAP with 3 new revolving accounts even if you have to go secured. Welcome to My Fico http://ficoforums.myfico.com/t5/Rebuilding-Your-Credit/Secured-Cards-Database/td-p/3846302

HT201318 On 12/19/2014 I added 20 MG of ICloud storage using my credit card. The charge is still pending and my storage has not increased. I am planning on upgrading my phone and I need to update ICloud on my phone. Thank you

On 12/19/2014 I added 20 MG of ICloud storage using my credit card. The charge is still pending and my storage has not increased. I am planning on upgrading my phone and I need to update ICloud on my phone. Thank you

This is a user-to-user support forum. You may want to report the problem using the following link: https://www.apple.com/emea/support/itunes/contact.html

What effect does closed credit card accounts w/ a balance I'm paying off have on my credit score.

I've closed three credit card accounts and I'm paying off the balance on them What effect does that have on my credit score?

Don't think it will take a hit right now. It stays on your report for 10 years after you close it. Even though you pay it off, removing the cards will raise your available credit, leading to a higher UTIL %. But UTIL % is overrated. Long as its below 30%, should be fine.

HT4910 How can I increase my storage space without using a debit/credit card?

HOw can I increase my iCloud storage without a credit/debit card!!

Payment methods accepted include iTunes store credit, credit cards, and debit cards. If you do not have enough iTunes store credit to complete your upgrade, you will be charged the remaining amount.
Purchasing iCloud storage and billing:
http://support.apple.com/kb/HT4874

Late Mortgage payment October 2013, will my credit score increase after October 2015?

I have a few late payments in a row on my current mortgage, the last one being on October of 2013. From what I hear, lenders are mostly concerned about the past two years. Now, after October 2015 will my actual credit score increase because of that??

mikelonggggggggg wrote:
so most likely 0 points?That's would I would expect. Anything more than that would be a blessing. The late payments are still on your reports and still weigh down your score... although the impact lessens over time... it doesn't vanish.

Cube usage for credit cards

I want to download the app for the cube. can I pick up the cube at the apple store? do I have to pay for it? how much?

Do you mean the Square Credit Card Reader? If so, it is available from Apple online and in stores in the U.S. for $9.95. You can use the "Check Availability" link in the following to check your local Apple Store: http://store.apple.com/us/product/HF562LL/A/square-credit-card-reader

What to know before rebuilding your credit with secured credit cards

The higher your original CL, the higher they can be raised to new higher CLs. I remember using Open Sky secured card and the $200 CL never went up in a 6 months. I got a CreditOne card with a $300 CL and was increased to $500 within 3 months. Not surprisingly, when I applied for Capital One nonsecured cards, I started at $500 (the highest CL of my two secured cards). Your available credit is a factor in your score so the more money you can put into these cards, the better - bc your score will be higher and will give you a better foundation of starting CL in the future.
Keep in mind, there are of many fees associated with SCCs and make sure to take that into account from the get go. This can range to annual fees to monthly charges to even transactiom costs when you swipe. Read the fine print and find a reasonable card without outrageous fees. I beleive I used CreditOne bc they didn't cost as much as others.
When starting out, an upfront fee may kill your utilization the first month. For instance, if you have a $49 CL and upfront annual fee is $27, you're already at 54% utilization. And if you pay that immediately, it won't matter bc your remaining available credit will still be $22 and your first month reported to the bureaus will show high utilization (or in any lenders eye's - high risk). So find out what upfront fees will hit the first month and depsit enough money to stay under 30% UTIL. Build a healthy habit of not crossing 30% utilization and pay your cards off 10 days before they're due the first time around bc some companies take up to a week post your payment and you never want to be late. This way you know how to time your payments.
The amount of credit accounts also is a factor in your score so if you can afford to, get two or more. The best way to do this is apply for one, make your first payment that will typically include your upfront annual fee. Wait for that payment to clear, then apply for another card. Lenders see payments will often grant you cards with signs you pay your balances. This healthy process of applying for CCs can be used with the regular CCs you will be eligible for, usually in 6 months time.
Keep in mind that your reporting date is usually 3 days after your statement date and timing is key. Let's say you have a $300 card. You've used $75 to stay under 30% and you know your due date is the 20th of the month. You make a payment on the 16th for $75 and it posts on the 19th returning your balance to $0. The next day, your due date, the day closes in good standing. Within a 3-10 days the balance will reflect your credit report. Try to use 1-9% (or 29% max) of your CL in this window bc having 1-9% UTIL reporting is better $0 reporting and you don't have to carry a balance and pay interest. These rebuilder cards prey on those who cannot manage their cards. But that's not you bc you know the game and are here to beat the system.
You want move to $0 annual fee CCs asap so feel free to apply for unsecured CCs within 6 months. Capital One is known grant cards and forgive for past mistakes so apply there after 6 months if you're not aware of bettet options.
It also ould be a good idea to take $500 and deposit as a CD with your bank and use that as collateral for a secured credit card. Its the same concept as a secured card but you get interest back with your original deposit.
Hope this helps someone.
Much love,.
Romulus

Personally, I would keep your utilization down to 10% or less for a few months and lie low, just showing responsible card usage. Keep checking the Capital One prequalification page after that, and once you become prequalified for the unsecured Platinum, take the chance, as the prequals are usually pretty solid.
When you get your unsecured Platinum, use it a whole lot and either pay in full every month, or, like with your secured, keep it at 10%-below. Meanwhile, definitely pay your secured in full every month. At about 5 months, if you displayed heavy (but responsible) usage, they should give you a pretty good CLI--I often see people go from $300 to $1500.
By then you should probably have your charge-off paid for, so, while it won't remove it off of your report, it will help. You'll also have a decent unsecured card, and by then I would feel comfortable applying for another card and maybe closing your secured card after that, since it unfortunately won't graduate.
BoA has a secured card that will graduate, but their prequalification page is utter garbage, so you'll be taking a huge chance by applying, and there will be a chance at denial even with recon. However, if you do get it, it will be great to have an evolving credit card in your hand, as you won't have to close the line (as I'm sure you'll eventually need to do with the Capital One).
I dunno, I'm a pretty conservative person when it comes to this credit game, so my offered plan might be a bit lukewarm, but I think it might be pretty solid for you. Good luck, you can do this!

Scores increase-credit card usage

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