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Reporting question ...

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farmgirljen
Valued Member

Reporting question ...

So I PIF on friday the 7th my balance on my secured card, and this morning I got a score watch alert that said my fico score had dropped due to carrying a balance.. My card balance is not due until the 15th, and I did not charge anything until after the 15th of last month,and paid the whole thing in full before the balance would report- or so I thought...I am confused...


Starting Score: EQ 581,NO TU
Current Score: TU 676, EQ 663 EX 653
Goal Score: 700


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MarineVietVet
Moderator Emeritus

Re: Reporting question ...

 


@farmgirljen wrote:

So I PIF on friday the 7th my balance on my secured card, and this morning I got a score watch alert that said my fico score had dropped due to carrying a balance.. My card balance is not due until the 15th, and I did not charge anything until after the 15th of last month,and paid the whole thing in full before the balance would report- or so I thought...I am confused...


When is your monthly statement date? You need to PIF before the statement posts in order for a zero balance to show on your report.

 

 

 

 

From a BK years ago to:

9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

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Message 2 of 4
farmgirljen
Valued Member

Re: Reporting question ...

Thank you- that makes sense,lol... I guess I thought it was that I needed to pay before the 15- but that is to avoid the interest rate...lol.well it cost me a few points, but was a lesson worth learning,lol.


Starting Score: EQ 581,NO TU
Current Score: TU 676, EQ 663 EX 653
Goal Score: 700


Take the FICO Fitness Challenge
Message 3 of 4
MarineVietVet
Moderator Emeritus

Re: Reporting question ...

 


@farmgirljen wrote:

Thank you- that makes sense,lol... I guess I thought it was that I needed to pay before the 15- but that is to avoid the interest rate...lol.well it cost me a few points, but was a lesson worth learning,lol.


Yes paying before the due date is meant to avoid finance charges. You did good on that part!!! Smiley Happy

 

If you only knew how confused I get when it comes to credit. I'm constantly asking questions. We're all here to learn and to help others.

 

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