Reply
Valued Contributor
Posts: 2,385
Registered: ‎09-10-2007
0

One Payment or Two?

As of this month I will have all my cards at zero blance (best to start fresh and I am moving so there is no way to miss a payment if I don't owe one).
 
In using them after that I plan to leave that magical 1-9% balance to report.  Is it as effective if I just pay any previous balance and anything in excess of the 1-9% before the due date (have to watch the time between due date and statement date though - learned that with Exxon because it killed my util). or to send the balance just after the statement cuts.  Pros for the two payment method is that you have always made a payment (even if you miss the second one's cutoff date). Con is you have to remember to make both payments.
 
As a combo method set up the minimum due on autopay to send just after the statement date (never late!) and then the 'keep the util down' payment just before the statement date on a manual payment.
 
What method are you using and how hard is it to keep up with?
Now a member of the UNOFFICIAL 700 Club - Plus scores of 734-734-747
Moderator Emeritus
Posts: 5,436
Registered: ‎03-10-2007
0

Re: One Payment or Two?



Lady_Scarlet wrote:
As of this month I will have all my cards at zero blance (best to start fresh and I am moving so there is no way to miss a payment if I don't owe one).
 
In using them after that I plan to leave that magical 1-9% balance to report.  Is it as effective if I just pay any previous balance and anything in excess of the 1-9% before the due date (have to watch the time between due date and statement date though - learned that with Exxon because it killed my util). or to send the balance just after the statement cuts.  Pros for the two payment method is that you have always made a payment (even if you miss the second one's cutoff date). Con is you have to remember to make both payments.
 
As a combo method set up the minimum due on autopay to send just after the statement date (never late!) and then the 'keep the util down' payment just before the statement date on a manual payment.
 
What method are you using and how hard is it to keep up with?


 
For the cards that I have that report the statement balacne, I sent up auto-pay to pay when the statment cuts and hen the balance before the statement date.

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.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

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.