Welcome to the forum, ms277017. Analytical minds are great, think you will fit in just fine here with us!
Anyways, I am leaning towards the result that the algorithms love multiple payments and not really taking the amounts into consideration.
Strangely enough, a couple years back I experienced the opposite. On my AmEx accounts I would regularly make multiple payments per month. The reason was being obsessed with not forgetting, and hence, whenever I logged into my account I would pay the full balance whatever it may be.
Then sometime later (many months) after regularly doing that, I had requested a credit limit increase and was denied. The reason AmEx gave me was something to the effect that my monthly payments were too low (paraphrasing since I do not recall the precise language used). I found that hilarious since the cumulative amount of my payments always equaled or exceeded my monthly charges and there was no balance on that account. The algorithm must have only been looking at the first payment made in a cycle and ignoring the rest.
Speaking of micro-payments, there was a bank that used to offer some checking accounts a few pennies for each online bill pay made. There are members here who have claimed to made hundreds or thousands of payments per month, adding those pennies up to some real money. However that bill pay perk wasn't widely offered and has since been discontinued.
I remember reading a while back that some issuers were monitoring customer behavior via charges; i.e., they'd flag you if they saw that you were charging at a liquor store frequently, for instance. I wonder if that's really true and if so, how often it happens.
American Express took a lot of heat for that and has claimed to have ended it. I'm not sure if other issuers are doing it, because I'm not sure if AmEx would have discontinued the practice if it weren't for the public pressure to do so. Thus far no other banks have been exposed of doing it that I am aware of, but that's not to say some aren't doing it today.
I think the thing the computer must just eat up and love the most is timely payments.... On time never late, maybe not the full balance, but higher than minimum etc. How many times you pay is probably like a 3/4th on the list, but then you have the side of use and how do you use etc.
Agreed but at the same time, some of the cards aimed at balance carriers, the banks may actually like those who pay late on occasion because it's an opportunity for a late fee. The couple people I know that have great creditworthiness but are careless and pay late sometimes, the both of them seem to be bombarded with credit card deals for balance transfers and promotional 0% on purchases. Perhaps the occasional late payer that the algorithm determines to be a low risk would be desirable given the potential for greater revenue from the account, right?
do you have green eyes reported on your drivers license; those types of things) can factor into the various different scores that will be calculated, such as acceptance score, collection score, bankruptcy score, profitability score etc
Well I'm not so sure about the eye color part, being that some ethnicities only have one eye color, that would certainly be racial profiling and a big class action lawsuit.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.
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