@Anonymous wrote:im sure yur rite, but you think they will help, she was late, late last year and still has a balance, would it be best 4 me 2 write a good will letter or my god daughter? It never hurts to try. All they can do is say no. You certainly won't get anything removed without that first step.
If it's her debt she should write it but you can certainly offer suggestions on what to say.
oh and related, i always pay off my credit cards every month, would i want 2 carry a balance on them and make payments? ive heard this will improve credit scores, is that true? You never have to carry a balance forward for any reason. This doesn't help your score but makes the companies happy because you pay them interest when you do that.
Everyone's situation is different and there is no one size fits all approach to this but what seems to work well for most people is to have only one of their cards report a small (<9% of it's credit limit) balance each month and then pay in full before the due date. You can use it as much as you want during the month but what's important is the reported balance because for most cards whatever is reported on the monthly statement is what is used to calculate utilization for the month.
You might have to play around with the percentages for a few months to see what works best for you. Some people say that 1-3% utilization helps the most. For others it might be 5-9%. As I said it's not one size fits all.
On any other cards always try and have them report a zero balance each month. That doesn't mean you can't use them just make sure that the desired zero balance on these accounts is achieved several days before their statements post.
Along with individual and overall utilization, FICO also scores the number of all types of accounts reporting a balance.at any one time Making sure less than half of all your accounts report a balance helps most people.
Now this approach really isn't necessary if you're not looking to apply for any credit in the near future or unless you are trying to tweak your score for maximum effect but some folks do this as a hobby just to see how high they can get their score.