Does paying early help CLI request?

[Anonymous]

I am new to Discover and currently I am using $30 or so out of $500, statement cut off isn't until the 20th, should I pay before the statement is cut or is it better leave this small balance on the statement so that it would report to the CRA as me "actively using" the card?

Thanks in advance.

[fused]

Do you have any other CCs reporting balances on your credit reports?

ETA: After reading your post, I'm a bit confused by the title of your thread. You don't need to let a balance report in order for a CCC to offer you a CLI. They already know about your activity and spending and paying habits.

[Anonymous]

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@fused wrote:

Do you have any other CCs reporting balances on your credit reports?

ETA: After reading your post, I'm a bit confused by the title of your thread. You don't need to let a balance report in order for a CCC to offer you a CLI. They already know about your activity and spending and paying habits.

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I have read somewhere that if an account is reporting 0 balance, fico ignores it because it thinks I am not using the card therefore won't help my score. Is that true?

[fused]

Not exactly. Its a good idea not to have too many cards reporting ANY balance. So long as you have one CC reporting a balance, you will not lose points for no current use of revolving accounts. 

[gamegrrl]

I get paid twice a month, including the 15th of the month. I pay half of my bills on each payday, every month.

It kind of backfired with Best Buy, as I ended up paying right before the statement was produced, which gave me two payments applied to December and NONE to January. Good thing I'm obsessive compulsive, as I noticed the LATE CHARGE right away and was able to get it taken care of over the phone. Now I don't pay them until the 19th :-)

But don't get me started on the whole "Due to new laws, the minimum payment is $25, even though our online payment system still presents you with a $10 minimum payment." 

[Wolf3]

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@gamegrrl wrote:

I get paid twice a month, including the 15th of the month. I pay half of my bills on each payday, every month.

It kind of backfired with Best Buy, as I ended up paying right before the statement was produced, which gave me two payments applied to December and NONE to January. Good thing I'm obsessive compulsive, as I noticed the LATE CHARGE right away and was able to get it taken care of over the phone. Now I don't pay them until the 19th :-)

But don't get me started on the whole "Due to new laws, the minimum payment is $25, even though our online payment system still presents you with a $10 minimum payment." 

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My system is to pay the minimum payment as soon as the statement cuts.   Then I PIF on the payday that preceeds the due date.  That way I'm covered if something happens.  

I will get you started on the "Due to the new laws".    The law only mandates that the first late fee can't be bigger than the minimum amount due or $25.    So many have raised the minimum to $25 to get the bigger late fee. 

[gamegrrl]

So THAT explains it! Sheesh! Even so, you'd think that they would have their online payment site updated and ready to go. Maybe that's just part of their evil plan.

I was doing a debt snowball at the time, but since then I've paid Best Buy off altogether. I was at 0% interest for 18 months, starting last  August. I've been able to make a serious impact on my debt recently - much more than I thought I'd be able to. Woohoo :-)