Been rebuilding for 1 year

Anonymous · ‎05-26-2017

YMMV.

You're mileage may vary. What works for one, may not work for the other exactly the same way, but the theory holds the same. There are different scoring boosts based on utilization and under 10% is ideal, but some have a better boost at UTI under 5%. 8% was ideal for me, but right now my UTI is higher because I'm having to carry balances for some more furniture purchases at 12 month zero interest. Things will right themselves by December. My final CO and late pays when be gone by then and UTI will be under 10% again.

Anonymous · ‎05-26-2017

@Anonymous.

Credit One will report positively for 10 years past the point of being closed and it will still factor into AAoA. I don't remember ever hearing anything about them removing the tradeline when you close the account like some of the other subprime lenders.

Anonymous · ‎05-26-2017

You have been a tremendous help...I appreciate your comments... thank you so much KayKay65

Anonymous · ‎05-26-2017

@Anonymous.

Anytime. Good luck.

joltdude · ‎05-26-2017

@Anonymous wrote:
You have been a tremendous help...I appreciate your comments... thank you so much KayKay65

Wanted to clarify something that might not be quite understood.. the why... All Zero Except One...

When you pay a card off before the bill generates... Its as if you didn't use any of that credit as far as fico is concerned...

So if your paying off all the cards before the STATEMENT generates... Its as if you dont "need" the credit and are not utilizing it...

Be careful which card you choose to pay after the statement generates (or before the due date).... Credit One cards are known for charging interest as soon as it posts and not having a grace period... .. do this for a few months and you should notice a bit of improvement in your score... of course YMMV..

Also wanted to add PIF is a very good thing and should be encouraged... but just change the timing of it... You want the usage to report at least for one card.. Eventually unless your applying for something and need the point boost esp with rebuilding involved... id just pay all balances in full AFTER the statement generates

All Zero Except One under a certain percentage used is more an optimization when your about to app.. BUT since your rebuilding.. it gives a small boost if you stick to it..

But for you,, that one reporting is very important IMHO.. but that doesn't mean paying interest on it.. it just means waiting tor the statement before paying that card off..