@MarineVietVet wrote:
@Anonymous wrote:
I PIF before the due date and after the statement date. I pay down any cards that go over 9% the moment they go over 9% to keep them always under 10%. I occasionally have a card over 10%. For example, I have a card at close to 80% due to a zero percent deal. My overall utilization is still under 10%, but I am willing to take a credit score hit for having one high utilization card for no interest. If I were looking for a home or auto loan soon, I'd pay it off.
MarineVietVet's strategy is the perfectionist strategy. I tend to care more about having excellent credit while maximizing rewards. Zero balances on cards require zero use (or full payment before the reporting date). I tend to use the card that maximizes my reward, so zero balances are rare for me. But, again, if I were shopping for a home loan, I might use the perfectionist strategy to get the best interest rate ;p
Pick the strategy that works best for you as long as you PIF your CC debt.
I absolutely agree with this and clearly stated that this approach is not for everyone. The strategy I mentioned seems to work for most people but there are no one size fits approaches.
I agree that each person has to decide what works best for them.
After your reach 760, 770 or so it doesn't matter to lenders. You will get the best rates.
But is is fun to play the "Tweak my FICO Score" game at some point.
I definitely would agree. I guess I tend to employ the perfectionist strategy a few times here and there and it works.
