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Is it better for the score to leave about 3% balance carry over statement date before the interest hits on each card? Or is it better to PIF for everycard but one before the statement cuts? Which will lead to a better score?
Pay them all off, except one.
Let that one report MORE than zero, but less than 10% of it's credit limit.
@Christina_xyt wrote:Is it better for the score to leave about 3% balance carry over statement date before the interest hits on each card? Or is it better to PIF for everycard but one before the statement cuts? Which will lead to a better score?
The best is to PIF all the cards except one. And have the one card that reports from 1-9%
@tcbofade wrote:Pay them all off, except one.
Let that one report MORE than zero, but less than 10% of it's credit limit.
So I can just pick one card to do so?? Can I just have the same card reports some balance or I should switch among cards each month? I kinda wonder why this would be better than every card has some balance?
@mongstradamus wrote:
@Christina_xyt wrote:Is it better for the score to leave about 3% balance carry over statement date before the interest hits on each card? Or is it better to PIF for everycard but one before the statement cuts? Which will lead to a better score?
The best is to PIF all the cards except one. And have the one card that reports from 1-9%
No wonder my score is bad.. cos all of my cards have a little bit balance..
@Christina_xyt wrote:
@tcbofade wrote:Pay them all off, except one.
Let that one report MORE than zero, but less than 10% of it's credit limit.
So I can just pick one card to do so?? Can I just have the same card reports some balance or I should switch among cards each month? I kinda wonder why this would be better than every card has some balance?
I would switch which cards report each month if you can
@Christina_xyt wrote:
@tcbofade wrote:Pay them all off, except one.
Let that one report MORE than zero, but less than 10% of it's credit limit.
So I can just pick one card to do so?? Can I just have the same card reports some balance or I should switch among cards each month? I kinda wonder why this would be better than every card has some balance?
Because it is. lol.
My THOUGHT is that your next lender doesn't want to see you owing money to every bank in town, but is fine with you having many open, EMPTY credit lines.
If it's possible for you, I would rotate WHICH card carries a balance every now and then. Doesn't really affect score, but if you leave any one account empty for too long, they might close it due to inactivity.
I see!! Thank you both for the advice!