topic Re: Feels good not to PIF before the statements close in Credit Cards

Feels good not to PIF before the statements close

masscredit — Thu, 10 Dec 2015 00:10:54 GMT

I usually pay most of my cards in full before the statements close and just let one card report a balance each month. I try to keep the one card that reports at about $795.00. I can't say that it's a lot of work but I do have to pay attention to the cards that I use so don't use them to close to the closing dates. Just becomes a normal way of life. This month I'm letting most of my cards report a balance to see what that does to my scores. I think that might be a benefit in the long run. This way the accounts aren't always showing a closing balance of $0.00. Even though my normal routine isn't much work, I find it more relaxing to just let things post. I don't know if I'll continue this for more than a month but I'll probably do it once in awhile.

I can see where you're going with this, and it does makes...

pizza1 — Thu, 10 Dec 2015 01:02:44 GMT

I can see where you're going with this, and it does makes sense. Someday I hope I can let maybe 2 cards report a small balance, still with obviously 1% reporting. It might be awhile for me, because since my BK, I got myself in the habit of PIF everything, because I don't want to get in the habit of getting lax and then saying...oh, I could carry a balance for a few month just this once though...no, no, no..I have to stay on track and stick to my guns....no exceptions. LOL..

But...Im curious to see what happens with you

Re: Feels good not to PIF before the statements close

redpat — Thu, 10 Dec 2015 01:03:47 GMT

pizza1 wrote:

I can where you're going with this, and it does makes sense. Someday I hope I can let maybe 2 cards report a small balance, still with obviously 1% reporting. It might be awhile for me, because since my BK, I got myself in the habit of PIF everything, because I don't want to get in the habit of getting lax and then saying...oh, I could carry a balance for a few month just this once though...no, no, no..I have to stay on track and stick to my guns....no exceptions. LOL..

But...Im curious to see what happens with you

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PIF before the statement date or PIF after the statement date is the same thing, you just are reducing utilization that's all.

Let a statement balance report, in your case 5 - 9% is $12,360 - $22,248 and our score won't get hit that much. PIF before due date.

if you are not looking for credit then there is no need to micromanage your score, util has no memory.

Re: Feels good not to PIF before the statements close

pizza1 — Thu, 10 Dec 2015 01:05:43 GMT

@redpat wrote:
@pizza1 wrote:
I can where you're going with this, and it does makes sense. Someday I hope I can let maybe 2 cards report a small balance, still with obviously 1% reporting. It might be awhile for me, because since my BK, I got myself in the habit of PIF everything, because I don't want to get in the habit of getting lax and then saying...oh, I could carry a balance for a few month just this once though...no, no, no..I have to stay on track and stick to my guns....no exceptions. LOL..

But...Im curious to see what happens with you
.

PIF before the statement date or PIF after the statement date same thing, you just are reducing utilization that's all.

Let a statement balance report, in your case 5 - 9% is $12,360 - $22,248 and our score won't get hit that much. PIF before due date.

if you are not looking for credit then there is no need to micromanage your score, util has no memory.

true..but my creditors softing my reports do have memory, and I dont want them seeing anything that will spook them at any given time. What works for me, doenst necessarily work for someone else, and Im use to micromanaging...keeps me in the garden

Re: Feels good not to PIF before the statements close

redpat — Thu, 10 Dec 2015 01:18:51 GMT

@pizza1 wrote:
@redpat wrote:
@pizza1 wrote:
I can where you're going with this, and it does makes sense. Someday I hope I can let maybe 2 cards report a small balance, still with obviously 1% reporting. It might be awhile for me, because since my BK, I got myself in the habit of PIF everything, because I don't want to get in the habit of getting lax and then saying...oh, I could carry a balance for a few month just this once though...no, no, no..I have to stay on track and stick to my guns....no exceptions. LOL..

But...Im curious to see what happens with you
.

PIF before the statement date or PIF after the statement date same thing, you just are reducing utilization that's all.

Let a statement balance report, in your case 5 - 9% is $12,360 - $22,248 and our score won't get hit that much. PIF before due date.

if you are not looking for credit then there is no need to micromanage your score, util has no memory.
true..but my creditors softing my reports do have memory, and I dont want them seeing anything that will spook them at any given time. What works for me, doenst necessarily work for someone else, and Im use to micromanaging...keeps me in the garden

_________________________________________________________________[_____________________________________________________________

It is better to show a high balance on a report, shows ability to use credit. Continuing to report 1% isn't always good. Don't be afraid to use your credit if you pif anyway.

JMO, but I think it shows a better pattern.

Re: Feels good not to PIF before the statements close

pizza1 — Thu, 10 Dec 2015 01:23:24 GMT

@redpat wrote:
@pizza1 wrote:
@redpat wrote:
@pizza1 wrote:
I can where you're going with this, and it does makes sense. Someday I hope I can let maybe 2 cards report a small balance, still with obviously 1% reporting. It might be awhile for me, because since my BK, I got myself in the habit of PIF everything, because I don't want to get in the habit of getting lax and then saying...oh, I could carry a balance for a few month just this once though...no, no, no..I have to stay on track and stick to my guns....no exceptions. LOL..

But...Im curious to see what happens with you
.

PIF before the statement date or PIF after the statement date same thing, you just are reducing utilization that's all.

Let a statement balance report, in your case 5 - 9% is $12,360 - $22,248 and our score won't get hit that much. PIF before due date.

if you are not looking for credit then there is no need to micromanage your score, util has no memory.
true..but my creditors softing my reports do have memory, and I dont want them seeing anything that will spook them at any given time. What works for me, doenst necessarily work for someone else, and Im use to micromanaging...keeps me in the garden

_________________________________________________________________[_____________________________________________________________
It is better to show a high balance on a report, shows ability to use credit. Continuing to report 1% isn't always good. Don't be afraid to use your credit if you pif anyway.

JMO, but I think it shows a better pattern.

I certainly wasnt afraid to show high balances on ALL of my cards, and carry high balances for months pre BK...things are different now. I rotate which card I want to report that month. I have ONE card report a high balance but still only 1% every month......anyway, let not get off topic here...this isnt my thread, and be respectful to the OP..

Re: Feels good not to PIF before the statements close

CreditCuriosity — Thu, 10 Dec 2015 01:25:17 GMT

Its a good idea IMO to let several balances report balances for a month or two then pay them off.. Makes your profile stronger once again in my opinion and shows other lenders you can handle multiple balances for the times you might actually need to carry some balances for a prolonged time

Re: Feels good not to PIF before the statements close

redpat — Thu, 10 Dec 2015 01:31:12 GMT

@pizza1 wrote:
@redpat wrote:
@pizza1 wrote:
@redpat wrote:
@pizza1 wrote:
I can where you're going with this, and it does makes sense. Someday I hope I can let maybe 2 cards report a small balance, still with obviously 1% reporting. It might be awhile for me, because since my BK, I got myself in the habit of PIF everything, because I don't want to get in the habit of getting lax and then saying...oh, I could carry a balance for a few month just this once though...no, no, no..I have to stay on track and stick to my guns....no exceptions. LOL..

But...Im curious to see what happens with you
.

PIF before the statement date or PIF after the statement date same thing, you just are reducing utilization that's all.

Let a statement balance report, in your case 5 - 9% is $12,360 - $22,248 and our score won't get hit that much. PIF before due date.

if you are not looking for credit then there is no need to micromanage your score, util has no memory.
true..but my creditors softing my reports do have memory, and I dont want them seeing anything that will spook them at any given time. What works for me, doenst necessarily work for someone else, and Im use to micromanaging...keeps me in the garden

_________________________________________________________________[_____________________________________________________________
It is better to show a high balance on a report, shows ability to use credit. Continuing to report 1% isn't always good. Don't be afraid to use your credit if you pif anyway.

JMO, but I think it shows a better pattern.

I certainly wasnt afraid to show high balances on ALL of my cards, and carry high balances for months pre BK...things are different now. I rotate which card I want to report that month. I have ONE card report a high balance but still only 1% every month......anyway, let not get off topic here...this isnt my thread, and be respectful to the OP..

That's a different story.

There is good info for OP anyway.

Re: I can see where you're going with this, and it does makes...

NRB525 — Thu, 10 Dec 2015 01:40:44 GMT

@pizza1 wrote:
I can see where you're going with this, and it does makes sense. Someday I hope I can let maybe 2 cards report a small balance, still with obviously 1% reporting. It might be awhile for me, because since my BK, I got myself in the habit of PIF everything, because I don't want to get in the habit of getting lax and then saying...oh, I could carry a balance for a few month just this once though...no, no, no..I have to stay on track and stick to my guns....no exceptions. LOL..

But...Im curious to see what happens with you

Wow, a real risk taker

I have 19 of 21 cards reporting balances. Most are PIF by the payment due date, nearly all are on autopayment.

Re: Feels good not to PIF before the statements close

NRB525 — Thu, 10 Dec 2015 01:42:41 GMT

@masscredit wrote:
I usually pay most of my cards in full before the statements close and just let one card report a balance each month. I try to keep the one card that reports at about $795.00. I can't say that it's a lot of work but I do have to pay attention to the cards that I use so don't use them to close to the closing dates. Just becomes a normal way of life. This month I'm letting most of my cards report a balance to see what that does to my scores. I think that might be a benefit in the long run. This way the accounts aren't always showing a closing balance of $0.00. Even though my normal routine isn't much work, I find it more relaxing to just let things post. I don't know if I'll continue this for more than a month but I'll probably do it once in awhile.

Kudos for trying something new. It will be interesting to see how your scores react.

Re: Feels good not to PIF before the statements close

masscredit — Thu, 10 Dec 2015 02:12:19 GMT

This is what I have so far -

November 13th -

Cap 1 - $636.00/$9000.00
Target - $236.00/$3000.00

November 17th -

Cap 1 - $636.00/$9000.00
Target - $236.00/$3000.00
Barclay Apple Rewards - $824.00/$4400.00

EQ04 -
10/30/15 - 723
11/28-15 - 723 - No change with 3 cards reporting

EQ08 -
11/13/15 - 696
11/14/15 - 693 - 2 cards
11/30/15 - 693 - No change with 3 cards reporting

TU08 -
11/10/15- 720
11/30/15 - 720 - No change with 3 cards reporting

December 9th -

Cap 1 - $1322.00/$9000.00
Target - $236.00/$3000.00
Barclay Apple Rewards - $824.00/$4400.00

TU08 -
12/09/15 - 717 - 3 cards reporting

No alerts for an EQ08 score drop yet. EQ04 will report the last Friday of the month (DCU). Next up will be a substantial balance increase on my Barclay Rewards card (about $6K/$10,500) followed by Walmart (about $150/$10K) and Merrick later in the month (about $1100/$1600). JCP might report a small balance if I do some shopping there before Christmas.

I'm REALLY hoping some lenders don't get spooked by this. NRB525 - most of your cards report a balance so it's normal for you. This isn't the norm for me. I feel like I'll be shocking the system.

Pizza and others, I don't mind if you post your experiences. Good learning for all of us.

btw- I mentioned doing something like this before but couldn't bring myself to do it. Can't believe I'm doing it now!

Re: I can see where you're going with this, and it does makes...

pizza1 — Thu, 10 Dec 2015 02:13:51 GMT

@NRB525 wrote:
@pizza1 wrote:
I can see where you're going with this, and it does makes sense. Someday I hope I can let maybe 2 cards report a small balance, still with obviously 1% reporting. It might be awhile for me, because since my BK, I got myself in the habit of PIF everything, because I don't want to get in the habit of getting lax and then saying...oh, I could carry a balance for a few month just this once though...no, no, no..I have to stay on track and stick to my guns....no exceptions. LOL..

But...Im curious to see what happens with you
Wow, a real risk taker

I have 19 of 21 cards reporting balances. Most are PIF by the payment due date, nearly all are on autopayment.

LOL!!! Im too scared to be honest...

Re: Feels good not to PIF before the statements close

Involver — Thu, 10 Dec 2015 02:22:24 GMT

I'm letting all 21 of my open accounts post $5 balances to see what happens.

Re: Feels good not to PIF before the statements close

redpat — Thu, 10 Dec 2015 02:28:13 GMT

@Involver wrote:
I'm letting all 21 of my open accounts post $5 balances to see what happens.

Nothing will happen, unless you have $10 credit limits on those 21 accounts, lol.

Re: I can see where you're going with this, and it does makes...

CreditMagic7 — Thu, 10 Dec 2015 03:56:34 GMT

@pizza1 wrote:
I can see where you're going with this, and it does makes sense. Someday I hope I can let maybe 2 cards report a small balance, still with obviously 1% reporting. It might be awhile for me, because since my BK, I got myself in the habit of PIF everything, because I don't want to get in the habit of getting lax and then saying...oh, I could carry a balance for a few month just this once though...no, no, no..I have to stay on track and stick to my guns....no exceptions. LOL..

But...Im curious to see what happens with you

Wow I do wish that i had your steadfast resolve on that, but what you mention is "exactly" what i practice. if i want to run balances i do, and not just this once but many times. However i don't keep them running too long and some of them are to deliberately throw off the routine charting the computers do as well as some leverage when doing credit limit increase requests directly with the U/W's. So far so good but yours is so much more aggressive.