08-05-2007 08:54 PM
08-05-2007 09:17 PM
You always want to pay the entire balance off (if you can) before the due date, in order to avoid finance charges. What everyone is referring to is the balance at the time the statement closes. The statement balance is what reports to the CRAs and appears on your CR. You don't want to pay your entire balance before the statement closes, if you are trying to maximize your score.
hpertrain wrote:I kkep seeing posts that say keep at least a $5.00 balance on your revolving creditcard accounts versus a 0 balance. I'm in the habit of paying my credit card balance down to 0 after using one each month. Am I missing something? Should I pay the entire balance off except for $5.00,will that increase my score?
08-07-2007 03:28 PM
the second one is better. 1-9% util on all for max fico points.
Can anyone tell me if:CC1 $10CC2 $10CC3 $0CC4 $0CC5 $0CC6 $0Is better then:CC1 $10CC2 $10CC3 $10CC4 $10CC5 $10CC6 $10?
08-07-2007 06:00 PM
fused111 wrote:the second one is better. 1-9% util on all for max fico points.
section8 wrote:Can anyone tell me if:CC1 $10CC2 $10CC3 $0CC4 $0CC5 $0CC6 $0Is better then:CC1 $10CC2 $10CC3 $10CC4 $10CC5 $10CC6 $10?
08-07-2007 06:55 PM
section8 wrote:Well, that brings me back to #1, since I have other accounts. I wish we could find out for sure...
08-07-2007 10:13 PM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.