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: Discover Fico 682 1/15 Walmart Fico 684 1/15|
Inquiries (24 Months): EQ 4 TU 1 EX 5 | Most Recent: 09/26/2014
|Amex Zync(Unicorn) |
Citi Diamond Preferred$6000
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO