topic Re: Keep small balance or pay in full??? in Rebuilding Your Credit

Keep small balance or pay in full???

abarcla1 — Thu, 21 Feb 2013 03:05:23 GMT

Hey Everyone.

I started the credit rebuilding process about 5 months ago and I've seen some reasonable improvement. What I'd like to know is, should I leave a very small balance at the end of every billing cycle or should I pay in full? If I should leave a balance, how much?

Currently, I have a WF secured card for $300, Cap 1 secured for $200, and a Cap 1 unsecured for $500.

Thanks for the help.

Re: Keep small balance or pay in full???

Anonymous — Thu, 21 Feb 2013 03:08:26 GMT

For optimal FICO scoring, have 2 of the 3 report a 0 balance and the other report at 9% or below. YMMV so experiment and see what works best for you.

Do not let all of them report a 0 balance.

Re: Keep small balance or pay in full???

abarcla1 — Thu, 21 Feb 2013 03:10:22 GMT

Thanks for the advice!!!

Which one would you leave the balance on???

Re: Keep small balance or pay in full???

Anonymous — Thu, 21 Feb 2013 03:11:27 GMT

It doesn't really matter. You can rotate them through the months so you use all of them.

Re: Keep small balance or pay in full???

signguy17 — Thu, 21 Feb 2013 03:20:15 GMT

I saw a report on CK that said to use all of them from time to time because if you only use one the CCC may label it as unused so as to not have to pay to report a costant 0 balance.

Re: Keep small balance or pay in full???

Anonymous — Thu, 21 Feb 2013 04:12:37 GMT

I'm sorta in the same boat...

I plan to basically rotate them... use one one month...pay it off.... use another one...pay it off... etc.

or I may use 2 in tandem and make sure the balance of both is not more than 9% total between them