@myjourney wrote:
@ItnStln wrote:
@myjourney wrote:
@ItnStln wrote:
@myjourney wrote:
@ItnStln wrote:Thanks again, myjourney! I am not in the credit steps program, I just checked. Is this a bad thing? Will I still get an automatic CLI, or will I have to request one? That's an excellent suggestion you gave, to use my card then pay it off. I have a friend who does this for his cash back. As long as I PIF each month, will it report a balance? Also, how are you able to quote my posts? I clicked reply, and it doesn't show a quote. I am just curious.
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In your doc's section was there a welcome message about the new card? If not maybe they haven't generated the message yet but keep checking over the next week just to be safe.
As long as your not looking to apply for new cards or trying to increase scores don't worry about paying before statement cuts...Just pay on due dates.
If your are planning more cards soon then apply the 1-9% rule for max scoring
There's nothing under the docs tab, but I have only had my cards for a little over a week. I'm trying to increase my score to at least 720 within the next two years. In this case should I pay prior to the statement date? Do you have more information on the 1-9% rule? Thanks for the information, myjourney.
Congrats on the quoting ....Yay you got it....
1-9% rule
Have one card report a balance (statement cut) between 1-9% after statement cuts PIF
All other cards PIF before statement cuts
This will maximize scoring potential
Thanks! I will try the 1-9% rule next month. Does it usually help significantly and how quickly does it usually take a while to improve? My goal is to get to at least 720 within the next two years and to make 850 in ten years. I want to make sure that I understand the 1-9% rule. Let's say I have a $500 limit on my card. Let between $5 and $45 report on my statement each month, then PIF?
Yes $5-45.00
Each case is different as to how many points you'll see using the 1-9% rule a lot of other factors also have to be taken into consideration
Thick or thin file
Types of credit you have now ...Loans, Installments, CC, Home
Thanks again for the great information! I will give this a try and see what happens in six or so months.