11-04-2012 07:48 AM
Making minimum payments will keep your account positive, but don't expect any CLI's, and you might get balance chased.
+1, seems like Lenders get nervous if you have a large balance and are only making the min payment for months. thats when they like to start balance chasing, which will probably kill your util.
11-04-2012 07:52 AM
Yes, as long as you pay the minimum you'll be fine on your payment history. Paying on time is a HUGE facor on your FICO score. You will still want to pay down your balance to better your score as well. Good luck!
11-04-2012 07:57 AM - edited 11-04-2012 08:00 AM
my best buy store card is my oldest card at 2 years and a month. ive held balances for more then 50% of th credit line on 0% interest. there has been span's of when i only made minumum payments. 4/5 months at a time.
working for 8/9 dollars an hour and buying game systems/ games/ and tvs. is part of my younger teenager self. (not the case anymore)
i was never EVER late. no i didnt pay in full but i did pay at least the minumum if not more.
my reports have no negatives.
all paid as agreed. with ok in every little box .
edit: forgot to mention that my cl was 2k when i opened the card and now is at 2.5k. i recently held a 2k balance with making only min payments for 4/5 months since there was no interest and i wasnt planning on buying anything or apping for anything.
as soon as i decided it was time for a new car, i called them and authorized them to pay my account in full through my checking account (this was 2300 dollars out of 2.5k) and i have not seen a decrease or a line closure.
but as stated my reports have no negatives what so ever so every case is ymmv as always.
|Current: EQ 735 Discover 9/5/13 Walmart TU 730 EX FICO 726 Amex Pull(1/1/13)|
Starting total revolving credit: $2600 | Current total revolving credit: 31k+
Inquiries (24 Months): EQ 8 TU 7 EX 8 | Most Recent: 09/04/2013
|Amex Zync(Unicorn) |
Citi Diamond Preferred$6000