topic Re: Would my credit score increase or decrease? in Understanding FICO® Scoring

Would my credit score increase or decrease?

Anonymous — Wed, 23 Aug 2017 23:46:40 GMT

If I had a CL of $500 and I used $200 but paid it off in full before the next statement would my score increase or decrease?

Re: Would my credit score increase or decrease?

Anonymous — Thu, 24 Aug 2017 00:13:10 GMT

Can you clarify the scenario a lit more?

Suppose your statement prints on the 10th. Are you saying that the balance was $0 on Aug 10, and then between Aug 11 and Sept 9 you rack up $200 more, and then pay it $0 on Sept 9, for another $0 statement on Sept 10?

Re: Would my credit score increase or decrease?

Anonymous — Thu, 24 Aug 2017 00:31:15 GMT

OP, do you just have this one credit card or do you have others in addition to it?

Re: Would my credit score increase or decrease?

Anonymous — Thu, 24 Aug 2017 00:48:40 GMT

Let’s say for example I spent $200 on 18th of August and I pay it off in full already when I receive my statement on September 10th and paid off in full my August statement already.

Re: Would my credit score increase or decrease?

Anonymous — Thu, 24 Aug 2017 01:57:27 GMT

If you pay a card off in full before the statement, it would be as if you didn't use the card at all. All that really matters is the balance at the end of the statement and if you paid it off. You'd increase if you left like a $1 balance before the statement hits, and then pay the dollar off before the due date.

You can even use the whole CL if you wanted to, just pay it down a couple days before the statement ends to be on the safe side. It would be as if you never used that much in the first place

Re: Would my credit score increase or decrease?

SouthJamaica — Thu, 24 Aug 2017 03:17:46 GMT

@Anonymous wrote:
If I had a CL of $500 and I used $200 but paid it off in full before the next statement would my score increase or decrease?

It would depend on your other credit card limits and reported balances.

Re: Would my credit score increase or decrease?

Anonymous — Thu, 24 Aug 2017 03:31:50 GMT

If you had a balance of X dollars on the August statement and then you pay your balance to $0 just before the Sept statement, then it could affect your score (causing it to go down if you had only one card -- if you have multiple cards it would cause either no change or a score increase). If your balance was X in August, then you spend a bunch, then you pay it back down to X, then that action would cause no score change.

This is whjy I am asking you to spell out in more detail what the two balances would be.

Even if we knew that, though, we couldn't say what would happen to your score, since your score is the result of many things. An inquiry could drop off, an inquiry could come on, balances could change on other accounts, you could have a late payment, etc.

Re: Would my credit score increase or decrease?

SunriseEarth — Fri, 25 Aug 2017 09:22:35 GMT

@Anonymous wrote:
Let’s say for example I spent $200 on 18th of August and I pay it off in full already when I receive my statement on September 10th and paid off in full my August statement already.

Did you August statement close with a zero balance? And by paying, will your September statement also have a zero balance?

As others have said, I think we have too little information to determine what would happen to your overall score.