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Changing from PIF Before Statement to After Statement Cut

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Frequent Contributor

Changing from PIF Before Statement to After Statement Cut

My monthly spend has been something like: 1800 on my CSP, 50ish on AMEX, and 200ish on my Apple Card.

 

I recently upgraded AMEX to BCP from BCE so that one will be getting way more love (grocery spend and streaming services so will be roughly 1000 amex, 1000 chase, Apple card 50ish).

 

I PIF each card before the statement cut except for Chase. I have been doing this for about 3-4 years. 

 

I want to change to letting my balances report to my credit, and then PIF after the statement like normal people (?Smiley Very Happy). Do you guys think this action will result in a large credit score decrease and/or look bad to the banks? I'm worried about making any sudden movements with my credit because of the state of everything right now.

 




TU 756 EX 730 EQ 775
Message 1 of 24
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Community Leader
Super Contributor

Re: Changing from PIF Before Statement to After Statement Cut

I don't pay any of my CCs before statement cuts. Looking at the cards in my signature. Does it look like banks have an issue with it? lol

You'll be fine. IMHO your credit profile will actually be stronger allowing your usage to report. Proof is in the pudding..I have a lot of pudding. LMAO



My most prized tradeline.
Message 2 of 24
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Community Leader
Super Contributor

Re: Changing from PIF Before Statement to After Statement Cut

If you took a scoring hit I suspect it would mostly be due to having 50+ % of your cards reporting balances and would be small-to-moderate but if you continue to PIF the reported balances each month it shouldn't cause alarm. 

 

If it were me I wouldn't worry about it but if the just the thought of that happening stresses you then don't do it. 



(7/2020)
FICO 8 (EX) 798 (TU) 800 (EQ) 793
FICO 9 (EX) 817 (TU) 815 (EQ) 812

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Artist formerly known as ColdFusion
Message 3 of 24
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Valued Contributor

Re: Changing from PIF Before Statement to After Statement Cut

I always pay my balance in full after the statement cuts.  This is what the card issuers expect you to do.

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Message 4 of 24
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Senior Contributor

Re: Changing from PIF Before Statement to After Statement Cut

While I do see the advantage of PIF becore te cut date if someone is trying to maximize scores for an upcoming app, I never really understood it as the norm. All that does is tell potential Lenders that you don't use the cards you have. IMO






Message 5 of 24
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Community Leader
Senior Contributor

Re: Changing from PIF Before Statement to After Statement Cut

Unless you're doing AZEO, I would totally let the balance report before paying. (Unless your utilization is really high, of course!) 

Discover It: 19.7k
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Once you go Berner, you never go back.
Message 6 of 24
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Frequent Contributor

Re: Changing from PIF Before Statement to After Statement Cut

I think I will take a modest approach and let 2 report a while. Then 3, and so on. I only have 4 cards at the moment. VS I really never use anyways (one of those regret cards LOL). I have it stuck in my head to only allow one to report under 9% from the rebuilding days. 




TU 756 EX 730 EQ 775
Message 7 of 24
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Established Contributor

Re: Changing from PIF Before Statement to After Statement Cut

@Gmood1 

 

"..I don't pay any of my CCs before statement cuts. Looking at the cards in my signature. Does it look like banks have an issue with it? lol.."

 

LOL good stuff! Smiley LOL






Potential Future Cards

Message 8 of 24
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Regular Contributor

Re: Changing from PIF Before Statement to After Statement Cut


@Wavester64 wrote:

@Gmood1 

 

"..I don't pay any of my CCs before statement cuts. Looking at the cards in my signature. Does it look like banks have an issue with it? lol.."

 

LOL good stuff! Smiley LOL


Nope. But it looks like you have an issue filling out 4506-T's! I see a lot of $25,000.... $25,000.... $25,000... Smiley Happy

Message 9 of 24
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Frequent Contributor

Re: Changing from PIF Before Statement to After Statement Cut

I might try the same thing, normally I just pay each account as I go along but now I think having balances report could be helpful in the long term for showing more full payment histories and credit usage to credited that check.
as of 7/26/20
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Message 10 of 24
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