No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
First of all I want to thank everyone for all the help and teaching you have provided me in the past few short weeks after discovering this amazing site & forums! So many of you have much knowledge and experience than I do. I'm trying to learn as much as possible which brings me to my question:
is it much better (ie for applying or credit scores) to PiF vs carrying a small balance around 1-9% UTL? I did read on another topic that you should only carry a balance on one card if you own multiple cards.
Thanks for any advice and tips!
@Danizzle wrote:First of all I want to thank everyone for all the help and teaching you have provided me in the past few short weeks after discovering this amazing site & forums! So many of you have much knowledge and experience than I do. I'm trying to learn as much as possible which brings me to my question:
is it much better (ie for applying or credit scores) to PiF vs carrying a small balance around 1-9% UTL? I did read on another topic that you should only carry a balance on one card if you own multiple cards.
Thanks for any advice and tips!
To do your best to have 1 card report a balance of 1-9%
And, just to be clear, ideally you should PIF by the due date, the way to optimize the score is to let the 1-9% balance REPORT, so the statement cuts showing this small balance, but then you pay in full to avoid interest charges. Often, people use "carry a balance" to mean paying less that full, so that the balance is carried to the next month, usually creating an interest charge.
letting the balance report, not carrying one, always pif before due date
i had few hundred dollars on my boa card, i paid it down to about 5% utilization, statement closes tonight, so the balance will report, but will be paid off well before the due date next month
Thanks guys. I should have clarified that by "carry a balance" I meant report a balance. I always pay at least the closing statement balance and have yet to pay any interest.
Hi ALL:
I just applied for a Freedom at a Chase branch. Got approved for a low limit of $500 (called EO for CLI, in progress).
My banker said it was probably due to a charge off I had even though it was well over four years ago and just waiting for it to fall off.
I told him I didn't mind the limit as long as my foot was in the door.
FWIW, he said that auto-CLI's do happen, and recommended that you leave a dollar on your balance or so, that way Chase can make a little money from you, and they may reward you with a CLI. For example, use 100, pay off 99, reolving $1, which is 2 cents interest, etc etc.
Not sure if this is good advice at all, but making yourself look like a profitable customer may allow you a little more "Freedom"
@Shock_
Chase makes money off you whether or not you carry a balance. Every time you swipe a card, the ccc makes money. It is completely possible for a ccc to make more money from someone who uses the card heavily but PIF than from someone who barely uses the card and carries the small balance.
@Dubious wrote:
Chase makes money off you whether or not you carry a balance. Every time you swipe a card, the ccc makes money. It is completely possible for a ccc to make more money from someone who uses the card heavily but PIF than from someone who barely uses the card and carries the small balance.
+1
Anyone else notice the CCs are starting to push world cards now (higher swipe fees)?