05-12-2008 07:46 PM
05-12-2008 07:49 PM
pjxf99 wrote:Okay, I just want to make sure I have this right:I know I need to let my cards report a small balance when the statement drops, but pay it off before I get charged interest.Yes, but only let less than half of your total open accounts report a balance.My statement period ends on the 6th. The payment is due on the last day of the month.So I should PIF after the 6th but before the last day, correct? Or is it the other way around?Pay sometime between the 6th and the 25th to be safe. Other answers may vary.
05-13-2008 12:23 AM
Half of your total open accounts. Not the credit limit as that would be a real mess with 50% used!
pjxf99 wrote:Half of my accounts, or half my total credit limit? I'm asking because I only have 2 cards at the moment.
05-13-2008 05:24 AM
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.