Should I have $0 balance on my cc's or keep making payments?

Luna2012 · ‎04-11-2012

Hello Trying to rebuild my credit, is it better to have a zero balance on my cc accounts? Or keep it low and keep paying on time? I only have two small ones at the moment Thanks!

Starting Score: tu fico 555 4/11/12 ; eq fico 558 4/11/12 ; exp fako 550
Current Score: tu fico 649 09/06/12 eq fico 679 10/04/12 (pulled by lender); exp fako 642
Goal Score: 650

Take the FICO Fitness Challenge

pizzadude · ‎01-28-2010

If you are trying to boost your FICO score, start with paying all of your CC down to zero balances except for one card which you should let a small balance report, ideally less than 9% utilization. This is the best starting point to find your ideal FICO revolving utilization.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX

Luna2012 · ‎04-11-2012

Thank you!!!

Starting Score: tu fico 555 4/11/12 ; eq fico 558 4/11/12 ; exp fako 550
Current Score: tu fico 649 09/06/12 eq fico 679 10/04/12 (pulled by lender); exp fako 642
Goal Score: 650

Take the FICO Fitness Challenge

marty56 · ‎10-06-2007

Yes and Yes.

You can do both and not pay any interest by making 2 payments. One before the statement drop date and one on or before the due date.

Example:

$1000 CL

$100 balance

statement drop date 7th

statement due date 15th

Pay $90 say on the 5th and then pay $10 on the 13th for 1% util and no interest.

06/15/2012 FICO: EQ: 798 TU:785

Rebuilding Your Credit

Should I have $0 balance on my cc's or keep making payments?

Re: Should I have $0 balance on my cc's or keep making payments?

Re: Should I have $0 balance on my cc's or keep making payments?

Re: Should I have $0 balance on my cc's or keep making payments?