09-19-2013 11:19 AM
Hi, I have a discover card and I was told that they would report to the credit bureaus on the 27th of every month, which is also my billing date.
My question is this:
Suppose I had spent 100 dollars on my card out of a 500 dollar limit. Should I pay the 100 dollars into my account before my billing date which is also the reporting date so that I get good scores? And does having a zero billed amount on the reporting day affect my score?
09-19-2013 11:33 AM
09-19-2013 01:02 PM - edited 09-19-2013 01:04 PM
Okay, before my very first statement from Pay-Pal SC hit yesterday I had charged almost $60 to the acct. Last week I paid $30 and bought it down to $29. Yesterday I received my first statement showing $25 due. I plan to pay that and leave a $4 balance. Now I also charged $23 in gas on my BP/Chase gas card and approx $50 on my Macy's card (which I just got approved for last Sat). I don't have an amount due for either just yet. So would it be to my BETTER advantage to pay these in full now BEFORE the statements hit--OR wait for the statements for both to generate first? This is my 3rd go-around with CC's and I want to make sure I get it right this time-LOL.
09-19-2013 01:07 PM
09-19-2013 01:11 PM - edited 09-19-2013 01:11 PM
09-19-2013 01:16 PM
@09Lexie: thanks for the reply. Another question: So at this stage it's not necessary (for score purposes) to leave a small balance on the PPSC (or any other accts).? I'm not too overly-concerned about the interest on $4.
09-19-2013 01:19 PM
09-19-2013 01:33 PM
@Snack Trader: so if I'm reading your 2nd to last responce correctly, on a $500 CL on my PPSC acct., I would have to leave a balance between $5 and $45 for scoring purposes--which I can't do b/c there's $25 due and would only leave $4 leftover. So I should just PIF on the PPSC this time and leave the 1 to 9% balance on a different TL. BTW: as of right now, I'm not planning to app for anything else card-wise at least until mid-late Feb. 14'.
09-19-2013 08:58 PM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.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.
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.