12-10-2012 11:47 AM
12-10-2012 11:54 AM
Should we let a small balance report or PIF before statement cuts? Does it make a difference?
Nope, I used the card and PIF, nothing report... 600 --> 800 --> 1600 --> 2900 --> 5K last month.
12-10-2012 11:55 AM - edited 12-10-2012 11:56 AM
That's good to hear. My statement cuts this week and I just paid it off to have a 0 balance.
12-10-2012 11:58 AM
You should always PIF (ie pay the entire Statement Balance before the Payment Due Date) to avoid interest charges.
Often people will continue to use the card after the Statement Date such that the CURRENT Account Balance is greater than the last Statement Balance.
For people who want to optimize their credit score, anecdotal evidence suggests that the best practice is to allow a small balance to report on only one card, while all other cards report zero balance. If you want a small balance (ie $10 to report), then a few days before the next statement date, make a 2nd payment of the current Account Balance minus $10. Then stop using the card until the next statement date.
12-10-2012 12:15 PM
Good point. I never thought about that. I will give them a call tonight when i get home from work.
Im sure its different for every situation but while in the rebuilding phase..my score has jumped everytime one of my cards gives me an increase My scores are almost spot on to yours by the way lol.
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