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I know Charge Card doen't affect your utilization % but yesterday when It reported a 227 balance it drop my creditkarma score by 10pts! Do you guys pay off your charge card balance before statement or let it report?
You shouldn't worry about CK's point system. Just use them for free monitoring and alerts.
@Open123 wrote:You shouldn't worry about CK's point system. Just use them for free monitoring and alerts.
+1000
@myjourney wrote:
@Open123 wrote:You shouldn't worry about CK's point system. Just use them for free monitoring and alerts.
+1000
+ 10'000
@CredittotheMax wrote:I know Charge Card doen't affect your utilization % but yesterday when It reported a 227 balance it drop my creditkarma score by 10pts! Do you guys pay off your charge card balance before statement or let it report?
I ALWAYS pay off my AMEX cards before the due date, sometimes making several payments a month depending on the card and charges. I have never carried a balance on my charge cards, even though I have the pay over time option with the Gold.
I didn't care much about CK score because my creditsecure score didn't change at all. I usually let my firstt balance post on all my credit cards, but most likely I'm gonna start paying before statement ends.
@CredittotheMax wrote:I know Charge Card doen't affect your utilization % but yesterday when It reported a 227 balance it drop my creditkarma score by 10pts! Do you guys pay off your charge card balance before statement or let it report?
This is the question I am strugling with tonight, I have a balance of $802 on my Zync card, the statement will cut tomorow, should I pay it now or wait for 2 days, or a week? In anycase the bill will be paid long before the due date. I know published AMEX policy says they don't care just want to maximize my internal score with them. I want a CLI on my AMEX Blue which I have been denied for twice now, once after a CLD for carying a balance during the zero percent period. The money is sitting in my checking account as it has been as each charge was made earning interest.
BTW, just PIF AMEX Blue 4 days before the statement close date, and won't be used again till next billing cycle.
Even though it doesn't factor into utilisation, it still counts as an account with a balance. I would not be comfortable with a 5 or 10 thousand balance reporting, no matter what it did to utilisation.
@Open123 wrote:You shouldn't worry about CK's point system. Just use them for free monitoring and alerts.
Chase frequently used the Vantage score, so that score is at least something to care about on there.