How much more than the minimum should someone pay?

[Anonymous]

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@toi34 wrote:
@ longtimelurjer
Wrong again....
One cannot build credit and thus Fico points if Fico's algorithms assume you never use your credit. Do your research.

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OK, that's certainly within forum guidelines!

"Carry a balance" means pay less than the full amount by the due date, incurring interest unless you have a 0% APR.   What you are referring to is letting a balance report, which can be done by paying by due date rather than before the statement cuts.

And even if all cards report 0 balance, each individual company will report the on time payments, your accounts age etc, and you "FICO points"   Letting only one balance report is just a way of optimizing score, not at all necessary to get a good score.

Sorry

[JKSIMMONS]

Does anyone have a "best practices" for carrying pancakes around in my front pocket?

It may be off topic but it's my topic.

[toi34]

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@Anonymous wrote:

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@toi34 wrote:
@ longtimelurjer
Wrong again....
One cannot build credit and thus Fico points if Fico's algorithms assume you never use your credit. Do your research.

---

OK, that's certainly within forum guidelines!

"Carry a balance" means pay less than the full amount by the due date, incurring interest unless you have a 0% APR.   What you are referring to is letting a balance report, which can be done by paying by due date rather than before the statement cuts.

And even if all cards report 0 balance, each individual company will report the on time payments, your accounts age etc, and you "FICO points"   Letting only one balance report is just a way of optimizing score, not at all necessary to get a good score.

Sorry

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Again, you and the other poster don't know everything....I have CU cards that report on the same day as statement cuts; OP may have 0% interest for a certain timeframe. My point is you don't know and it's not for you or anyone else to judge. Stick to your own credit situation. OP specifically said not to add comments that suggest snarkiness. Get off your high horse and be cordial.

[Anonymous]

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@hwturner17 wrote:

Does anyone have a "best practices" for carrying pancakes around in my front pocket?

It may be off topic but it's my topic.

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As a certain poster might say, there is no one-size fits all answer to this. We need to know your goals for carrying them, any prior baddies with pancakes or your front pocket, have you considered using apples or your back pocket.  No easy answers

[Anonymous]

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@toi34 wrote:

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@Anonymous wrote:

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@toi34 wrote:
@ longtimelurjer
Wrong again....
One cannot build credit and thus Fico points if Fico's algorithms assume you never use your credit. Do your research.

---

OK, that's certainly within forum guidelines!

"Carry a balance" means pay less than the full amount by the due date, incurring interest unless you have a 0% APR.   What you are referring to is letting a balance report, which can be done by paying by due date rather than before the statement cuts.

And even if all cards report 0 balance, each individual company will report the on time payments, your accounts age etc, and you "FICO points"   Letting only one balance report is just a way of optimizing score, not at all necessary to get a good score.

Sorry

---

Again, you and the other poster don't know everything....I have CU cards that report on the same day as statement cuts; OP may have 0% interest for a certain timeframe. My point is you don't know and it's not for you or anyone else to judge. Stick to your own credit situation. OP specifically said not to add comments that suggest snarkiness. Get off your high horse and be cordial.

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Irony at its finest!

I mentioned 0% APR.  And reporting on same day as statement cuts is totally irrelevent.  We are talking about paying before due date.  You have made some strong statements that are actually wrong.  I was correcting them.  I am not being snarky to the OP, I was merely correcting your comments that you need to "carry a balance" to get a good credit score.  I have not done that and my score is fine.

[JKSIMMONS]

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@Anonymous wrote:

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@hwturner17 wrote:

Does anyone have a "best practices" for carrying pancakes around in my front pocket?

It may be off topic but it's my topic.

---

As a certain poster might say, there is no one-size fits all answer to this. We need to know your goals for carrying them, any prior baddies with pancakes or your front pocket, have you considered using apples or your back pocket.  No easy answers

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***slow clap*** thank you so much for your wisdom.This has been bothering me for quite some time

[toi34]

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@Anonymous wrote:

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@toi34 wrote:

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@Anonymous wrote:

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@toi34 wrote:
@ longtimelurjer
Wrong again....
One cannot build credit and thus Fico points if Fico's algorithms assume you never use your credit. Do your research.

---

OK, that's certainly within forum guidelines!

"Carry a balance" means pay less than the full amount by the due date, incurring interest unless you have a 0% APR.   What you are referring to is letting a balance report, which can be done by paying by due date rather than before the statement cuts.

And even if all cards report 0 balance, each individual company will report the on time payments, your accounts age etc, and you "FICO points"   Letting only one balance report is just a way of optimizing score, not at all necessary to get a good score.

Sorry

---

Again, you and the other poster don't know everything....I have CU cards that report on the same day as statement cuts; OP may have 0% interest for a certain timeframe. My point is you don't know and it's not for you or anyone else to judge. Stick to your own credit situation. OP specifically said not to add comments that suggest snarkiness. Get off your high horse and be cordial.

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Irony at its finest!

I mentioned 0% APR.  And reporting on same day as statement cuts is totally irrelevent.  We are talking about paying before due date.  You have made some strong statements that are actually wrong.  I was correcting them.  I am not being snarky to the OP, I was merely correcting your comments that you need to "carry a balance" to get a good credit score.  I have not done that and my score is fine.

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...and so is mine. In fact, doing it my way netted me 11 points in February/March, and 23 points in March/April. My balances from my January shopping spree will be paid off in May, and I guarantee that I will net more Fico points for the April/May cycle. Paying your balances off overtime will net Fico points, period.

[Josh2942]

I would set up a month to pay off every card and than divide your payments accordily. For example if you have a 1k balance and want to pay it in 6 months pay 200 a month

[Anonymous]

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@toi34 wrote:

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...and so is mine. In fact, doing it my way netted me 11 points in February/March, and 23 points in March/April. My balances from my January shopping spree will be paid off in May, and I guarantee that I will net more Fico points for the April/May cycle. Paying your balances off overtime will net Fico points, period.

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Right, as I said in the original post you attacked, you gain positive history by sticking to the terms of the credit agreement, which basically means paying at least the minumum by payment due date.  You made the claim that you had to carry a balance to gain positive history.  And that is not true, period.

[mrlh1980]

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@Stralem wrote:

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@mrlh1980 wrote:

Why not paid in full? I don't spend whatever I can't pay in full. I love the American Express charge card for this. I'm sure other companies would like to see paid in full vs not paid in full. I even spoke with a credit analysts from Bank of America, she mentioned what they like to see is payments in full. That shows great responsibilities. Then she mentioned about my utilization being 5% is great. Now, this month my utilization went to 2%. Which only gave me 8 points on Transunion from 755 to 763

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Yeah, because the only reason people carry balances is to buy the newest sneakers and video gaming machines.

Sudden vehicle repair costs and unexpected medical expenses?

Pssssssh!

Judgemental **bleep**.

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It's called saving. I have saving just in case something happen. I'm sure they taught you this in school. Rule of thumb you should have at least 6 months savings.