New Member
Posts: 8
Registered: ‎01-04-2012
Re: Having Zero Debt Lowers Your Score by 7 points.

Everything I've read says that you do not need to carry a balance to have usage of your credit card reported to the credit bureaus.  This is why you can pay in full every month and there will still be amounts reported.  Once a month, maybe on your statement date, maybe some other date, your credit card company will send the current balance to the credit bureau(s).  As long as you use your accounts you do not need to carry a balance month to month.  This myth hurts people who pay needless interest when they can pay in full and not take a hit on their credit score.

Starting Score: 577
Current Score: 667
Goal Score: 750

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