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So I have a SG Visa with a $63.00 balance, i pay in full, I get an alert from my Fico on Equifax. Pay off a small balance and I lose 3 points... So I'm assuming they want you in debt instead of being responsible........I can't win. Can someone shoot me now!!!
@Basspro2 wrote:So I have a SG Visa with a $63.00 balance, i pay in full, I get an alert from my Fico on Equifax. Pay off a small balance and I lose 3 points... So I'm assuming they want you in debt instead of being responsible........I can't win. Can someone shoot me now!!!
If its your only card reporting a balance then you would get a ding, all revolvers at 0 is always a drop in Fico.
Thanks for the reply.. I think I understand now after doing some reading.. Just doesn't seem right to me though .It just seems they want to keep you down if your not a money generator for the bank or CC company which I think is very wrong.
@Basspro2 wrote:Thanks for the reply.. I think I understand now after doing some reading.. Just doesn't seem right to me though .It just seems they want to keep you down if your not a money generator for the bank or CC company which I think is very wrong.
Once you learn what to do it becomes second nature. While it's true that having all your credit cards reporting a zero balance can have a negative impact on your scores there is an easy way around it.
Let one of your cards report a balance (even $5 is enough) and then pay that balance before the due date. The result:
* Scoring is happy because you've showed activity.
* You're happy because you payed no interest.