06-29-2009 08:47 PM
I received a Juniper seamiles card 30 days back. Well tomorrow they might do the typical 30 account review. My CL is 750 and I have accumulated a balance of 430 so far. The statement date is 7th July and I am planning to PIF tomorrow but was wondering whats the best thing to do to prevent any possible AA in these uncertain times. This is my only good CC. All Ihave otherwise are a 200CL FP and a 200CL Orchard. which always have a 0 balance.
1) Should I PIF?
2) If I maintain the habbit of PIF, will it arouse suspicion if I sudenly pay only the minimum for a couple of months in future?
3) Should I pay maybe around 70% so that;
a) They get to make some money on interest
b) It still shows that I am making significant payment (almost the entire balance) and not jsut minimum pmt.
I mean I understand that PIF is a very good thing to do but after a lot of researching, Ive observed that PIF every month did not provide any specific advantage against adverse actions/CLDs for lots of folks.
CLDs happened to all kinds of people. Those with excellent payment histories who PIF every month diligently and had been doing so for years, also to those who pay only the minimum or to those who pay something in between or to those who carry large balances or to those who dont use the CLs etc etc....
When I spoke to the credit analyst after I got the card, he told me the best behavior apropos payments would be to pay only once a month and in full so that it shows that one is comfortable in handling (borrowing and paying) large (relatively) sums of money and is not struggling. The implied msg perhaps is that making multiple payments or not paying a large part of the balance would indicate that one might be struggling to pay up. It may not be true but in the current credit environment, well....
06-29-2009 09:14 PM
Many experienced posters on the forum would recommend paying in full to avoid interest. Also recommended is to PIF on all cards except one--five + days before the statement cuts and allow the other card to show a small balance due. That card should be PIF off of the statement before the due date. This would ensure the best possible FICO score, if that is of interest to you.
Your credit limits look to be low enough not to attact CLD interest from the CCCs.
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