Does the minimum pymt on a 0 balance credit card count towards debt ratio?

[jrherring]

Does the minimum pymt on a 0 balance credit card count towards debt ratio?

Good morning, all!

I've typically been able to find my answers by searching through the posts but not this one.  I am working on  improving my debt ratio as it's currently sitting at 44%.  My question is this, if my credit cards are carrying a 0 balance...does that minimum pymt still count towards my debt ratio?  

Ex: A $500 card has a 0 balance, but I can POTENTIALLY carry a $15 min pymt.  

Ex: A $2200 card has a 0 balance but I can potentially carry a $35 min pymt.

When figuring up my debt ratio, does the potential minimum pymts get included?

Thanks for all of the posted answers that has answered so many of my other questions.

jenella

Equifax 642

[laz98]

nope, just the money you actually owe (i.e., balance, not minimum payment due)

[jrherring]

awesome!  Thank you!

[RobertEG]

I agree with laz

Your balance on any CC is not updated daily, or even weekly.

They send you a billing statement, which posts a min payment due.  They usually report to the CRAs within a few days after the end of their billing period

If you make the min payment, they will report the account as in good standing, and update the balance at that time, including the payment made.  All the CRA sees is your new, reported monthly balance as of the creditor reporting date.