How to manage a CC balance to maximize my score?

[creditmeister]

Simple question. I want to maximize my FICO score and the score simulator shows I will do so by paying down my CC balance. How are CC balances reported? I thought if I PIF before the payment due date, that I would not show a balance for CR purposes?

How do CC balances get reported and how should I manage the CC balance to maximize my score? 

Thank you.

[SouthJamaica]

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@creditmeister wrote:

Simple question. I want to maximize my FICO score and the score simulator shows I will do so by paying down my CC balance. How are CC balances reported? I thought if I PIF before the payment due date, that I would not show a balance for CR purposes?

How do CC balances get reported and how should I manage the CC balance to maximize my score? 

Thank you.

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Optimum is to let 1 account report a small balance of 9% or less, while all the others report at zero.

[creditmeister]

Ok. To be clear: If I PIF the last statement balance before the due date, it will report 0 balance? Correct?

[Jim-WI]

You will need to pay the balance before the statement cuts (not before the balance is due), in order for the CC to report a zero balance to the various credit bureaus. Hope this helps, and good luck on your credit journey!

[RonM21]

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@Jim-WI wrote:

You will need to pay the balance before the statement cuts (not before the balance is due), in order for the CC to report a zero balance to the various credit bureaus. Hope this helps, and good luck on your credit journey!

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+1

[Anonymous]

Depending on the number of cards you have, there are data points on this forum that show where/when allowing a second card to report a small (<9% balance) won't cause you to lose any points.  I'm not sure where that is; it could be 5-6 cards or even 10.