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How to use cards.

Established Member

How to use cards.

So with 8 new inq and a 663 score which is probably lower now with the in q I have been approved for a children's place store card, capital one cash rewards and believe it or not my first American express. I wanted the zync but was denied but I did get the starwood guest card. The only other card I have is a jcpenny card which has 80/1500. The card will be PIF the end of the month. The limits are not all that great as i have student loans and a few lates from 2 years ago. They range from 800 to 1500. Anyway i want to buy a house in about 2 years once my student debt gets down a little so I want to show that I can manage my credit correctly. So is it my understanding that when I use a card and pay all but like 10 % before the statement date then PIF before the due date? Am I understanding that correctly? How can I tell the difference between statement and due date? Thanks in advance for your help

Starting 05/15/12: FICO EQ 663
Current score: 1/2013 EQ 718, EXP 683
Goal : 700...now 750,mortgage someday

In my wallet: Amex SPG $2k, Citi thank you $2k, Toys R Us mastercard $2k, Capital one cash rewards$1500, Lowes $1200, Old navy $800, Children's place $800, JCP $1350, New york and company $200, Bank of America cash rewards $5000, Chase Disney Visa $1600, Citi simplicity $1500, Southwest visa $4500, Kohl's $ 500, Dillard's $300, Macy's $800
Message 1 of 15
14 REPLIES
Mega Contributor

Re: How to use cards.

You need to call in to find out your statement closing dates on your cards. You want all of your cards except 1 to report 0 and 1 card to have a 1-9% balance on it for optimal fico points. That can be YMMV for certain individuals but that's usually the golden rule for everyone.



EQ FICO 548 3/3/16
Message 2 of 15
Moderator Emeritus

Re: How to use cards.

Congrats on your new accounts Smiley Happy The answer is yes. Pay all of the balance except 9% before the statement cuts. For my zync card this is the 8th. Then you can PIF by the due date. Other things you can do to help with the house is to develop a good history of saving money: retirement accounts count.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Message 3 of 15
Frequent Contributor

Re: How to use cards.

I suggest you always PIF, I take 9% to be the threshold if needed, but I always PIF and have always recieved a credit score increase when I do so.  It is better to be safe than sorry, and being totally responsible is always a safer bet.

Message 4 of 15
Established Contributor

Re: How to use cards.

Seems like you got your answers above. My question is how did you get an SPG and not a Zync? Did you app for the SPG first?
AMEX SPG $30K | Citi TY Premier $20k | PenFed PlatRewards $25k | Barclay Arrival+ 40k | Chase Freedom $20k | BofA AMEX $15k | Discover IT $20k | | NASA Platinum-Advantage $20k | CapOne Quicksilver $15k | Amazon Card $10k |

My Journey from Sub-600s:
Message 5 of 15
Regular Contributor

Re: How to use cards.

So...quick question...On my capital one card, is my due date the same as my statement closing date?

Chase Southwest $5000 - November 2012 Wal Mart $1000 - November 2012 NFCU Visa $5,000 - Sept 2012 NFCU NavCheck $3,000 - October 2012 Amazon $900 - Aug 2012 Kay's Jewlery $2700 - Aug 2012 Buckle $250 (Shopping cart trick) - October 2012 Roaman's $250 (Shopping cart trick) - October 2012 Capital One Secured $225 - April 2012 Capital One Platinum $2500 - July 2012
Message 6 of 15
Super Contributor

Re: How to use cards.

Your due date will be sometime between 21-25 days after your statement closing date. It depends (it will say on your papers somewhere "Grace period - X amount of days") and your due date is that many days after your statement closing. 

Message 7 of 15
Established Contributor

Re: How to use cards.

Isn't it easier to get the zync than a revolver??? What was your EX score if you don't mind sharing


Starting Score: MYFICO 12/30/15 -TU: 481, EQ:561, EX:532 - BK7 DISCHARGED 12/2015 - Current: 09/01/2016 TU:642 EQ: 651 EX: 646
NFCU cashRewards:$6200 QS:$1500 Merrick:$1200 Cabelas:$1000 SonyVisa: $500 JCrew:$850 Overstock:$850 Express: $1050 PaypalCredit:$2150 NAVCHECK:$10K
Message 8 of 15
Established Contributor

Re: How to use cards.


Jlu wrote:
Seems like you got your answers above. My question is how did you get an SPG and not a Zync? Did you app for the SPG first?

+1, that stuck out to me right away. how in the world did that happen?



Starting Score: EQ 609, EX 633(Fako), TU 700
Current Score: EQ 699, EX 758, TU 733
Goal Score: 720 across the board
Garden Club Member-GC Challenge: App free since 10/31/12 Smiley Wink
Message 9 of 15
Moderator Emeritus

Re: How to use cards.


gettnthere wrote:

Jlu wrote:
Seems like you got your answers above. My question is how did you get an SPG and not a Zync? Did you app for the SPG first?

+1, that stuck out to me right away. how in the world did that happen?


I agree... how did that happen!

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge
Message 10 of 15