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Is it better to have a bit balance on each card or just one and pif for others?

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Christina_xyt
Established Contributor

Is it better to have a bit balance on each card or just one and pif for others?

Is it better for the score to leave about 3% balance carry over statement date before the interest hits on each card? Or is it better to PIF for everycard but one before the statement cuts? Which will lead to a better score?


In sequence of approval, Last app/inquiry 5/30/2015
Message 1 of 8
7 REPLIES 7
tcbofade
Super Contributor

Re: Is it better to have a bit balance on each card or just one and pif for others?

Pay them all off, except one.

 

Let that one report MORE than zero, but less than 10% of it's credit limit.

 

 

02/01/24 Fico 8: EX 757, EQ 803, TU 783.
Fico 9: EX 760 12/16/23, EQ 790 02/04/24, TU No idea.

Zero percent financing is where the devil lives...
Message 2 of 8
mongstradamus
Super Contributor

Re: Is it better to have a bit balance on each card or just one and pif for others?


@Christina_xyt wrote:

Is it better for the score to leave about 3% balance carry over statement date before the interest hits on each card? Or is it better to PIF for everycard but one before the statement cuts? Which will lead to a better score?


The best is to PIF all the cards except one. And have the one card  that reports from 1-9%



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 3 of 8
Christina_xyt
Established Contributor

Re: Is it better to have a bit balance on each card or just one and pif for others?


@tcbofade wrote:

Pay them all off, except one.

 

Let that one report MORE than zero, but less than 10% of it's credit limit.

 

 


So I can just pick one card to do so?? Can I just have the same card reports some balance or I should switch among cards each month? I kinda wonder why this would be better than every card has some balance?


In sequence of approval, Last app/inquiry 5/30/2015
Message 4 of 8
Christina_xyt
Established Contributor

Re: Is it better to have a bit balance on each card or just one and pif for others?


@mongstradamus wrote:

@Christina_xyt wrote:

Is it better for the score to leave about 3% balance carry over statement date before the interest hits on each card? Or is it better to PIF for everycard but one before the statement cuts? Which will lead to a better score?


The best is to PIF all the cards except one. And have the one card  that reports from 1-9%


No wonder my score is bad.. cos all of my cards have a little bit balance.. Smiley Sad


In sequence of approval, Last app/inquiry 5/30/2015
Message 5 of 8
mongstradamus
Super Contributor

Re: Is it better to have a bit balance on each card or just one and pif for others?


@Christina_xyt wrote:

@tcbofade wrote:

Pay them all off, except one.

 

Let that one report MORE than zero, but less than 10% of it's credit limit.

 

 


So I can just pick one card to do so?? Can I just have the same card reports some balance or I should switch among cards each month? I kinda wonder why this would be better than every card has some balance?


I would switch which cards report each month if you can 



EX Fico 804 11/16/16 Fako 800 Credit.com 11/16/16
EQ SW bank enhanced 11/16/16 839 CK fako 822 11/16/16
TU Fico discover 10/19/16 814 Fako 819 Creditkarma 11/16/16
Message 6 of 8
tcbofade
Super Contributor

Re: Is it better to have a bit balance on each card or just one and pif for others?


@Christina_xyt wrote:

@tcbofade wrote:

Pay them all off, except one.

 

Let that one report MORE than zero, but less than 10% of it's credit limit.

 

 


So I can just pick one card to do so?? Can I just have the same card reports some balance or I should switch among cards each month? I kinda wonder why this would be better than every card has some balance?


Because it is.  lol.

 

My THOUGHT is that your next lender doesn't want to see you owing money to every bank in town, but is fine with you having many open, EMPTY credit lines.

 

If it's possible for you, I would rotate WHICH card carries a balance every now and then.  Doesn't really affect score, but if you leave any one account empty for too long, they might close it due to inactivity.

02/01/24 Fico 8: EX 757, EQ 803, TU 783.
Fico 9: EX 760 12/16/23, EQ 790 02/04/24, TU No idea.

Zero percent financing is where the devil lives...
Message 7 of 8
Christina_xyt
Established Contributor

Re: Is it better to have a bit balance on each card or just one and pif for others?

I see!! Thank you both for the advice! Smiley Happy


In sequence of approval, Last app/inquiry 5/30/2015
Message 8 of 8
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