Whats considered too low

[TheFate]

Browsing through threads and reading thru a few peoples denials one of the reasons listed were

"Too minimal of a payment made on revolving acct" (Or something along those lines)

But what's considered too min of a payment?

On one card I only have a $500 of a limit so I can only charge max $100 dollars. So I'll charge around $90 and pay half to leave a balance to report 1-9%. But if it's gonna hurt me in the long run I'd prefer to just PIF... I just don't like to let the lender report a $0 balance.

Can someone explain this into more depth?

[MT936]

Not too sure but when my only card was a $500 limit I payed in full after the statement closed. I have always payed in full after the statements closes on all my cards, never during the statement and it's worked out well for me. Ideally, you want the statement to close out at 1-9% utilization but I am way too lazy to make multiple payments during the month

[BearsAndTurtlesRtheBest]

Looks lke your doing ti right that way a balance is reporting every month and there is activity on the account.

[Closingracer99]

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@TheFate wrote:

Browsing through threads and reading thru a few peoples denials one of the reasons listed were

"Too minimal of a payment made on revolving acct" (Or something along those lines)

But what's considered too min of a payment?

On one card I only have a $500 of a limit so I can only charge max $100 dollars. So I'll charge around $90 and pay half to leave a balance to report 1-9%. But if it's gonna hurt me in the long run I'd prefer to just PIF... I just don't like to let the lender report a $0 balance.

Can someone explain this into more depth?

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TBH I would considered "Too minimal of a payement" Is anywhere between $25 ( or $35 depending on what is the min payement for that Credit card)  and around $50-$60 would be considered "too minimal of a payment" but that is just my opinion of what I would consider it to be 

[TheFate]

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@MT936 wrote:

Not too sure but when my only card was a $500 limit I payed in full after the statement closed. I have always payed in full after the statements closes on all my cards, never during the statement and it's worked out well for me. Ideally, you want the statement to close out at 1-9% utilization but I am way too lazy to make multiple payments during the month

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The problem with that is my Due Date is due 2 days before the Statement closing date.

(Or am I confusing the Due date and Statement dates? I tend to get that confused alot not sure why)

[MT936]

statement close date is when the billing cycle is over for the month, due date is when the payment is due by, it is usually 3weeks after statement close date

[TheFate]

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@MT936 wrote:

statement close date is when the billing cycle is over for the month, due date is when the payment is due by, it is usually 3weeks after statement close date

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Ok I got it down.

How many days do you guys usually start making new purchases after the card has reported and you have PIF already?

[Bman70]

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@TheFate wrote:

Browsing through threads and reading thru a few peoples denials one of the reasons listed were

"Too minimal of a payment made on revolving acct" (Or something along those lines)

But what's considered too min of a payment?

On one card I only have a $500 of a limit so I can only charge max $100 dollars. So I'll charge around $90 and pay half to leave a balance to report 1-9%. But if it's gonna hurt me in the long run I'd prefer to just PIF... I just don't like to let the lender report a $0 balance.

Can someone explain this into more depth?

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 Utilization for scoring only refers to what the credit bureaus see. So you can charge all the way to your limit, as long as you have it down to 1-9% before the statement cuts. 

[MT936]

I continue charging, it's probably not the best idea but I don't spend much so I tend to always keep under 15%

[TheFate]

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@Bman70 wrote:

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@TheFate wrote:

Browsing through threads and reading thru a few peoples denials one of the reasons listed were

"Too minimal of a payment made on revolving acct" (Or something along those lines)

But what's considered too min of a payment?

On one card I only have a $500 of a limit so I can only charge max $100 dollars. So I'll charge around $90 and pay half to leave a balance to report 1-9%. But if it's gonna hurt me in the long run I'd prefer to just PIF... I just don't like to let the lender report a $0 balance.

Can someone explain this into more depth?

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 Utilization for scoring only refers to what the credit bureaus see. So you can charge all the way to your limit, as long as you have it down to 1-9% before the statement cuts. 

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I don't like charging more than 20% due to the fact when I first got my Capital One Promo no interest for 12 months I almost maxed it out and it reported the highest balance which was $470/$500 (Which is still there till this day on my report). I think lenders could see that even if you do bring your UTI down which doesen't look good in my opinon