MikeR397 said:
In any event, if you have a 0% offer on $60k already pending, I'd not worry about it and just try one new app with BOA. Worst that happens is they deny you. They may do something like approve you for the new card, but only for $1k CL and then let you move Cl's around, or they may automatically move some of your available CL to that new card as well. That is what has happened to me in the past. Also, you are correct that if those balances don't hit your credit report (ie you can't see them when you pull your credit), the other companies won't see them either. However, be careful b/c BOA seems to update on my reports VERY quickly. Good luck.
Thanks for weighing in Mike, and I'm really sorry for your Citi trouble, it's just not fair and it can happen to any of us who like to throw the dice ever so gingerly every once in a while.

It would be nice if you weigh in on a second, rather intricate question:

Say you wanna pay a balance that you wish to hide for a week or so by a statement's CLOSING DATE, but you don't have all the money by the DUE DATE. Now if you pay the minimum by the due date, and once you've the money after several days you follow it up with the remaining balance payment, what will the bank receiving the payment do when it reports to the CRAs after the closing date?

Will it report the minimum payment you paid by the Due Date? Or will it report a $0 balance because after you paid the minimum on the due date, you followed it up several days later, and before the closing date with full payment? In other words, when it comes to reporting payments and balances monthly, is the due date artificial and the Closing Date what matters? Or is it vice versa?

Thanks again Mike.

jef2000 said:EvilCapitalist said:Empirically, I know this can't be an issue - there are places in Bucks County, PA where dozens of unrelated people have the same first and last name live right next to each other due to historic reasons. I am sure Bucks Co is not the only place where that happens. So I dont proximity of addresses is a reasonable trigger if the addresses are different.

And how is the fact that these people live next to each other empirical evidence that this is not an issue with the credit card companies? Have these people recently done an AOR with no problems?

If it can't be reduced into a couple of SELECT queries it is unlikely be used to flag accounts.

saviola said:What troubles me though, is what Mike alluded to, he said, and I'm paraphrasing, "watch out, BofA tends to report debt VERY quickly." I interpreted the latter to mean that BofA is trigger-reportin' happy, eager to expose debt, and will report, statement closing date or no closing date.

Mike said, "However, be careful b/c BOA seems to update on my reports VERY quickly."

I think he means that they report updated balances to the CRAs quickly after statement closing date. To naas' point, they're not going to report an updated balance mid-statement cycle. I BT'd more than $45k from BoA over two weeks ago and it's not reporting at any CRA because my statement hasn't closed for the month yet.

saviola said:MikeR397 said:
In any event, if you have a 0% offer on $60k already pending, I'd not worry about it and just try one new app with BOA. Worst that happens is they deny you. They may do something like approve you for the new card, but only for $1k CL and then let you move Cl's around, or they may automatically move some of your available CL to that new card as well. That is what has happened to me in the past. Also, you are correct that if those balances don't hit your credit report (ie you can't see them when you pull your credit), the other companies won't see them either. However, be careful b/c BOA seems to update on my reports VERY quickly. Good luck.
Thanks for weighing in Mike, and I'm really sorry for your Citi trouble, it's just not fair and it can happen to any of us who like to throw the dice ever so gingerly every once in a while.

It would be nice if you weigh in on a second, rather intricate question:

Say you wanna pay a balance that you wish to hide for a week or so by a statement's CLOSING DATE, but you don't have all the money by the DUE DATE. Now if you pay the minimum by the due date, and once you've the money after several days you follow it up with the remaining balance payment, what will the bank receiving the payment do when it reports to the CRAs after the closing date?

Will it report the minimum payment you paid by the Due Date? Or will it report a $0 balance because after you paid the minimum on the due date, you followed it up several days later, and before the closing date with full payment? In other words, when it comes to reporting payments and balances monthly, is the due date artificial and the Closing Date what matters? Or is it vice versa?

Thanks again Mike.That I really am not sure, but I think it sorta veries with different companies. I think that when your new statment generates, that is the main time your CRA's refresh with your new balance. As far as showing what your 'last payment" was, I'm not sure what it will report if you do that plan. Also, I've found that different companies (AMEX, BOA, Discover, HSBA) take forever to update a CRA with a $0 balance when paying it in the middle of a period, where as some (Chase) seem to update in a matter of days.

Personally, I try to simplify the process more than what you are doing buy just paying everything off and applying for everything all at once, to keep the slate either booked full, or clean. I've got too many other things going on with law school to hassel with the little elements. To worry about all the nuances like that (especially in a multi AOR), is to give yourself a headach and rise in blood pressure for now reason). Make sure you are orgainzed (which it sounds like you are), and try to keep the rest as simple as possible.

saviola said:naas said:All cards I've seen report once a month only, and that's what shows on the closing date (when they send you the bill, they send the report to the CRA). It's my understanding that if you want to pay off the balance at any other time and have it report 0, you can do so by disputing the balance with the CRA.
Thank you naas for this valuable piece of information, much appreciated. What troubles me though, is what Mike alluded to, he said, and I'm paraphrasing, "watch out, BofA tends to report debt VERY quickly." I interpreted the latter to mean that BofA is trigger-reportin' happy, eager to expose debt, and will report, statement closing date or no closing date.

In other words, in your expert opinion, if BofA sees I BTed more than $60K after it reported for the month and after the month's statement closing date, could it report again and expose the ~ $60K before I'm done with my AOR? If it does that, my AOR is up shit's creek and all the maneuvers undertaken in preparation for it will be nullified.Absolutely it can, and most likely will do this. For myslelf and sister just last few weeks, BOA was the first company to report our new cards and our balances on the CRA's (about 10 days after getting the new card). I think the balances showed up about 3-5 business days after I did the BT, it really wasn't much longer than how long it took for me to actually get the direct deposit in my checking. That is what I meant by watch out, you need to pull your personal credit report now, and if no balances are showing, pull the trigger....

The other, and maybe better alternative is to just let the $60k report, use it for a month, get better planned for this AOR, then pay it off, and when your report shows $0 balance, then do you AOR. That would give you plenty of time to make sure you don't rush and make a mistake, if it isn't already too late. It would also give you a MUCH better chance of getting a new BOA 0% card as well. This is my advice (as difficult as it is to be patient, especially for your first AOR!)

ahself said:saviola said:What troubles me though, is what Mike alluded to, he said, and I'm paraphrasing, "watch out, BofA tends to report debt VERY quickly." I interpreted the latter to mean that BofA is trigger-reportin' happy, eager to expose debt, and will report, statement closing date or no closing date.

Mike said, "However, be careful b/c BOA seems to update on my reports VERY quickly."

I think he means that they report updated balances to the CRAs quickly after statement closing date. To naas' point, they're not going to report an updated balance mid-statement cycle. I BT'd more than $45k from BoA over two weeks ago and it's not reporting at any CRA because my statement hasn't closed for the month yet.
Gee self, that's great to hear, and it comes from first hand experience too. I mean two weeks would be eternity for me, I can slip in 6 AORs, but I think I'll just go for a single with 20 - 25 apps. Thanks for putting the issue to rest. I'll report back when the damage is done, this board's given me all I need before I launch.

RudolfSchmidt said:MikeR397 says Citi pulled Experian, yet this thread says Citi pulled Equifax: http://www.fatwallet.com/forums/finance/843837. Isn't that odd? I would have thought that a bank would always and only pull from the same CRA.

1. Link is not working
2. Which bureau a lender asks for a credit report varies by geographical area (with few exceptions, of course, but CITI is not one of them). So there's no conflict here.
3. CITI has been apparently switching to pull EX in places they pulled TU or EQ earlier. It may be as bad as them pulling EX everywhere (i.e., regardless of ZIP code / lending area), but I don't think this has been established yet.

BobbyRobert said:FWIW Citi pulled EQ for me in early July. I am in NC and they have always pulled EQ for me.

The creditpulls database at creditboards is pretty useful for these sorts of questions.

The database was not useful for Mark, myself or others who were surprised when Citi pulled a different report than we were expecting. In my case, Citi pulled EQ for my wife just a few months prior to switching to EX for me. At least you've proven that Citi hasn't switched to EX for everyone.

Nummerkins said:Yes, they will. BoA has reported mid-cycle for me any time I run up a large balance, and they have done it to other as well.
Did you your CL change also? IME, BofA will report midcycle only if the credit limit changes. Otherwise, I'd be screwed with my billpay balances running at 99% util every month.

cyberkost said: CITI has been apparently switching to pull EX in places they pulled TU or EQ earlier. It may be as bad as them pulling EX everywhere (i.e., regardless of ZIP code / lending area), but I don't think this has been established yet.
I can confirm that Citi pulled Experian on me last month for a Citi Flex LOC. Now whether Citi has different pulling criteria for Lines of Credit such as Citi Flex and its numerous credit cards, that I don't know.

There seems to be two separate Citi institutions too, a stingy, anal one in the Lakes NV, and a more generous, relaxed Citi out of Columbus, OH which offers useful Signature cards like Citi HHonors amongst others. I like the latter and don't care for the former.