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getting my score up

Member

getting my score up

does it matter if i pay off my credit card  early like if  i have 300 hundred  dollars credit  and i  spend 150 could i pay it back that next week i should i wait  intil the bill come at the end of month for my score to go up?
Message 1 of 6
5 REPLIES
Moderator Emeritus

Re: getting my score up

If you want your CC to report a $0 balance, you need to make sure you have a $0 balance showing on the CC typically right before (1-2 days) the statement date. There are CCs like HSBC/Orchard that are exceptions to that rule.
Message 2 of 6
Established Contributor

Re: getting my score up

What are the exceptions for Orchard Bank?

Thanks
Message 3 of 6
Moderator Emeritus

Re: getting my score up



jbh wrote:
What are the exceptions for Orchard Bank?

Thanks

They report your CC balance that was with them on the last business day of the month and report that typically a week or two after that. YMMV. I have an Orchard and they haven't reported every month for myself.
Message 4 of 6
Senior Contributor

Re: getting my score up



llecs wrote:


jbh wrote:
What are the exceptions for Orchard Bank?

Thanks

They report your CC balance that was with them on the last business day of the month and report that typically a week or two after that. YMMV. I have an Orchard and they haven't reported every month for myself.



So, to have Orchard report a $0 balance, pay a few days before the last day of the month?

~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*~*

Hubby's FICOs when we started: high 400s (June 2008)
Hubby's FICO NOW (04/06/09): TU: 679 EQ: 608 EX: ???
My FICOs: TU: 643, EQ: 606
Closed on new home: 1/20/2009 -- If we can do it, YOU can do it!!

Message 5 of 6
Moderator Emeritus

Re: getting my score up



Wonderin wrote:


llecs wrote:


jbh wrote:
What are the exceptions for Orchard Bank?

Thanks

They report your CC balance that was with them on the last business day of the month and report that typically a week or two after that. YMMV. I have an Orchard and they haven't reported every month for myself.



So, to have Orchard report a $0 balance, pay a few days before the last day of the month?


Yes.  Although my experience with Orchard has been different than llecs'.  They do report the balance as of the last business day of the month, but for me they actually report on that date, as well, not a week or two later.
 
Moving this thread to Credit Cards Forum, since it really is all about CCs.
 


Message Edited by cheddar on 07-27-2008 04:12 PM
----------------------------
App free since 7/11/08.
TU 744 / EX 710 / EQ 694 (Starting to slip. Smiley Surprised )
Message 6 of 6