@SPChaser wrote:I was going along in Reddit and read this post
My question is - if I'm PIF all the time and not allowing a balance to post to a statement, am I really not building credit history with a CCC? Amex, in particular I've read here, pefers transactors rather then revolvers, so would this PIF prior to billing cycle close and never having a statement balance post matter to them?
That statement you quoted is completely wrong. Even if you paid it off before you got the statement, you're building credit history.
I've not heard about every payment needing to be reported. That would be be news to me.
Traditionally, each lender reports to CRA's somewhat differently. For example, Chase would always report to CRA's when you paid down to zero. US Bank reports current stats on the first of the month no matter when your statement is. Lots of strange examples like this.
CRA's normally report the current balance, the total limit, the largest the balance has ever been, the date it was opened. I've read somewhere that they were trying to add the date and amounts of payments to that data as well, but that would involve the lender reporting that data to the CRA's and as far as I know they don't do that. Is this still how it is? The lender knows full well what you spend and when you pay them, though, even if that is not reflected in the actual credit reports.
I pay in full every 2 weeks so most of my cards usually don't report large balances. I don't think it's had any negative impact on my credit seeking, but can't be sure. If anything I think it had helped.
check credit karma and you'll see on each account when its [last payment date] was, regardless if they reported a 0 balance.
