mjbfan79 wrote:
@Anonymous wrote:
Don't you know that 10 bucks took my scores down 10 points! Argh...
Get out of here I been caring balances on most of my cards for the last 6 months wondering why my scores didn't change much. I'm gonna see how things change up cause I have 12 accounts I'm only gonna let one report a small balance.
lol, you'll love the result, but you'll get addicted to the new higher numbers pdq.
Then you can be a score-torturer like the rest of us!
Seriously, though, I think my lenders are reassured to not see balances on my cards. But they all get a good work-out during the month. We'll see what happens. I certainly don't think that I'm immune from bank craziness.
blackjack59 wrote:
Thanks to all for that imformation.So is it also true that if i pif before the statement cuts i pay no interest or very little?
If you PIF before your due date, you pay no interest.
If you PIF before your statement date, which comes even earlier, generally 2-3 weeks or so earlier, you naturally pay no interest, and you have the benefit of the $0 balance reporting.
Yes, the thought used to be that this was only useful when you were getting ready to app, but I know that in these days, I like having that string of zeroes showing as balances on my credit reports. (Do make sure that one account shows a minimal balance of $10-20, and once it reports, immediately pay it off. Most people lose points for all revolving accounts reporting $0; I know I did.)
If a balance reports, even if you pay it immediately before it's due, other creditors can't tell if you paid or if you're carrying debt.
It's like the old joke about two hikers being chased by a bear. You don't have to be able to outrun the bear; you just have to be able to outrun the other hiker.
