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How does one pay cc bal in full each month to prevent it from showing up on credit report?

Moderator Emerita

Re: How does one pay cc bal in full each month to prevent it from showing up on credit report?


rosa29617 wrote:
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.?

Yes, but they're nearly always incorrect. Smiley Very Happy

What you can find out from them is what date your statement(s) will fall on. Almost every card reports the statement balance on the date that the statement posts, so once you know when the statement is due, stop using your card about 5 days before, pay online 2-3 days before, and check for any late charges to sneak in, and pay them too.

Exceptions: HSBC and Orchard bank cards, along with US Bank cards, seem to report the statement balance as of the last business day of the month. There are some that vary, but I think that any new cards that you are getting will follow this pattern.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 11 of 20
New Contributor

Re: How does one pay cc bal in full each month to prevent it from showing up on credit report?

I bank with a small local credit union, which I have a really good relationship with (been with for eight years total); the cc issue date was Jan 26., so how can I figure payment (date} will be due? Oh! I have not used it, and I doubt if I will use it much.
Message 12 of 20
Moderator Emerita

Re: How does one pay cc bal in full each month to prevent it from showing up on credit report?

Well, your statement date might or might not wind up being around the 26th of each month.

I'd call them though, and ask when your statements will be generated.

With small local banks and CU's, you might just have to wait and figure out what their pattern is.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Message 13 of 20
Senior Contributor

Re: How does one pay cc bal in full each month to prevent it from showing up on credit report?

Credit reports show

Credit Limit

High Balance

Monthly Payment

Recent Payment 

Recent Balance

 

 

If you using the card, the recent and monthly payments will not be zero.   So this will show you are actively using the card.  

 

  

Message 14 of 20
New Contributor

Re: How does one pay cc bal in full each month to prevent it from showing up on credit report?

Got it!!1

Message 15 of 20
New Contributor

Re: How does one pay cc bal in full each month to prevent it from showing up on credit report?

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?

Message 16 of 20
Moderator Emeritus

Re: How does one pay cc bal in full each month to prevent it from showing up on credit report?

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!

Just puttin' syrup on something, don't make it pancakes.
Message 17 of 20
New Contributor

Re: How does one pay cc bal in full each month to prevent it from showing up on credit report?

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???

Message 18 of 20
Frequent Contributor

Re: How does one pay cc bal in full each month to prevent it from showing up on credit report?

Why not only charge 9% of your CL a month and then PIF when it posts, that way your util is never high?

EQ Starting Score: 579 | TU Starting Score: 568
EQ Current Score: 650 | TU Current Score: 653
EQ Goal Score: 1000 | TU Goal Score: 1000


Message 19 of 20
Highlighted
Blogger

Re: How does one pay cc bal in full each month to prevent it from showing up on credit report?

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.

I live my life like I type, fast and with a lot of mistakes.
Spacebar broken. Watch for finger.

02/04/2015 || TU 08: 728 EX 08: 709 EQ 08: 748

Message 20 of 20