topic Using credit cards wisely?? in Credit Cards

Using credit cards wisely??

jonben123 — Tue, 06 Jan 2009 23:40:37 GMT

Hello all,

I am very new to this board, but have already fell in love with it. I am in the process of rebuilding my credit after a bankruptcy filed in dec 2007. I will have my credit cards paid off very shortly and was wondering if at that time it would benefit me to pay most of my bills with the credit cards and jus pay off the balance before the grace period hits? Or would it be more beneficial to only use these sometimes for minimal purchases?

thanks a ton.... Jon

Re: Using credit cards wisely??

smallfry — Tue, 06 Jan 2009 23:43:50 GMT

I pay all the bills that I used to pay by check with credit cards online now. No need to pay any interest just use the cards. Make sure you have less than half your cards report a balance on your statement every month. You do not want every card to have a balance reporting at the same time. Keep the balance reporting under 9% on every card. You might need to make multiple payments on your cards during the month to achieve that. Good luck.

Re: Using credit cards wisely??

Anonymous — Wed, 07 Jan 2009 01:55:20 GMT

Check it out

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&thread.id=29793