Re: Can Somebody Nice Explain "Don't Carry a Balance?"
10-13-2012 11:17 PM
My point being that its absolutely not the end of the world if a balance reports... but it is bad to "carry a balance"
Carrying small balances on almost all my cards compared to just one of my cards is a 30pt difference for me. 770 EX FICO vs 800 EX FICO. But the things that I do with my credit affects my scores more because I don't have many things that are lowering them. So every little thing hurts me more than it would hurt someone with lower scores.
But to be honest, I let small balances report all the time. I only focus on my score at certain times during the year, like mini app sprees and insurance renewal time.
wow that is a huge difference! I don't pull my myfico scores very often. I use credit secure by amex and do daily 3 bureau pulls. I have a few negatives holding me back. Primarily a medical collection from a physical therapist who sent the bill to the wrong address in 2008. I had bought my first home the day before I had a really bad car accident that required the physical therapy. I was young and dumb and didn't know I would still owe something even after insurance paid out. Luckily I learned from this and start looking for the bill after I visit the doctor. The other negatives are from a divorce in 2006. Ex husband got the truck and decided to stop paying for the truck.
Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Silver Spade Garden Club Member: App Free since 1/1/13. No more apps til 2014
MyFICO Fitness Goal: 800s Club!
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