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?
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.
@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.
@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'.