01-30-2010 01:57 PM
I am very prepared to play the game because I want to raise my score, so will the bank tell me what day they report to the bureaus? Is that free info.?
01-30-2010 02:02 PM
01-30-2010 02:04 PM
01-30-2010 03:53 PM
Credit reports show
If you using the card, the recent and monthly payments will not be zero. So this will show you are actively using the card.
02-01-2010 08:15 AM
I called my bank to find out when the statement will be cut for my new cc; the rep did not have that info. but said I can contact the cc distributor(VISA)directly to ask them. She had a number for me but I refused because I'm not sure I should call.Does this sound right?
02-01-2010 08:51 AM
Yes - go ahead and call them if you're comfortable and wanting to do that.
Another option: when I have a new card, I use it and pay it off online immediately after it posts. Then I sit back and watch. Next month, you'll have all your ducks in a row.
Good luck & congrats on your willingness to be a PIF'er!
02-02-2010 06:22 AM
Great news! I just logged onto my bank's website and found that with the online banking, I can schedule payment dates which allows me to transfer funds from one account to another. Now all I have to do is determine what date to schedule a cc payment, which shouldn't be difficult; since I just got the cc and have no reason to use it, I may just wait for the first statement to get an idea when monthly statements will be cut. I hope this is a good decision NO USE, NO BAL right???
02-02-2010 07:42 AM
02-02-2010 08:06 AM
No use does equal no balance, but beware. your card can be closed for inactivity depending on your bank. you want to use it every so often. And some places like seeing that you have used it wisely, maybe even all of the credit limit, but have paid it off completely when doing so. Basically lenders jsut want to see that you know what you are doing with your cards. So find out what the reporting date is for your bank, and then make sure you pay that off each month. Other than that, use the card all the way to the limit if you like. That is what its there for.
A friend of ours has that online payment. When she gets her bills she pays using the credit card, then goes online and pays off the balance immediately. She does this every few days, making sure that the card is always paid off completely, but used heavily.
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.