Only one TL. Pay to $0 or Keep Small Bal?

[Anonymous]

Hi everyone,

I'd like to bump up my score before applying for a mortgage as I think it will help increase my options. My middle score is currently at 616.

- I have only one active line of credit: a credit card through SF Fire Credit Union (platinum visa).

- My loan officer did a hard pull and told me not to open any new credit. She said she can help me get financed in March (we have to wait until 12 months have passed after my latest delinquent payment). I have some older baddies on my report, but have a very low DTI and am lucky to earn about $165k with 10 years experience in the same industry. Those are the facts in brief...

Since I can't open new TLs, should I pay off my only credit card in full before the statement cut-off date on the 15th, or should I carry a small balance, say 1%? Since we started this process I paid it to $0, and both use it AND pay it in full daily.

Thanks in advance! 

[Revelate]

Small balance on the statement.

Can back off the daily paying .

Admittedly while a mortgage is up in the air for me I've pretty much taken all of my credit cards out and killed all their recurring payments too: not dropping a tier for a dumb charge I didn't get a chance to pay; however, you don't have to micromanage it that closely and it will likely raise your stress level in an already stressful time.  Relax, you'll be OK!

[Anonymous]

Thanks for the tip.  

I ignored my credit for so long I'm somewhat over-eager to repair it hehe.