Is it better to PIF before first ever statement ever cuts on a brand new card??? Or is it better to report a small balance on my brand new card (kind of let itself plant on my credit report) Or, it doesn't matter at all?
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@Vegas247 wrote:Is it better to PIF before first ever statement ever cuts on a brand new card??? Or is it better to report a small balance on my brand new card (kind of let itself plant on my credit report) Or, it doesn't matter at all?
Personally I don't think it matters either way. If it fits your plans better to PIF, then I would do just that. Every one of my cards I PIF on their very first statement and stiil do to this day all except for one. Although some folks will say it's good to rotate which card reports a balance from time to time, but all in all, you should be able to use your credit how ever you choose as far as charging and paying the bill. 
@takeshi74 wrote:What are you trying to do? Define "better". Better for what?
1. Better for my overall credit scores
2. Better for my internal scoring for that new card
I'm actually worried that it will look like i'm not using the card if I PIF before statement cuts.....but I don't want to report a balance on the new card because I have dedicated another card to report a small balance......I'm doing the 1 card reports 1-9% util and the 4 other cards report a $0 balnce for maximum FICO score....
Bump
If you are not apping or going for a CLI then it makes no difference whether you PIF before or after the statement. Since util has no memory and you know what it takes to boost your scores, IMO it's just not something I worry about on a regular basis.
I let all of my CC's cut a statement and MOST of the time when I plan out an app spree is when I do the PIF to prepare for the spree. Now with that being said, I have had some unplanned sprees where I did have balances reported. It worked out for me but I can't help but believe I would have gotten better CL if I would have followed my own logic...LOL!!
I let all of my CC's cut a statement and MOST of the time when I plan out an app spree is when I do the PIF to prepare for the spree. Now with that being said, I have had some unplanned sprees where I did have balances reported. It worked out for me but I can't help but believe I would have gotten better CL if I would have followed my own logic...LOL!!
@Rhaeny wrote:
If you are not apping or going for a CLI then it makes no difference whether you PIF before or after the statement. Since util has no memory and you know what it takes to boost your scores, IMO it's just not something I worry about on a regular basis.
I let all of my CC's cut a statement and MOST of the time when I plan out an app spree is when I do the PIF to prepare for the spree. Now with that being said, I have had some unplanned sprees where I did have balances reported. It worked out for me but I can't help but believe I would have gotten better CL if I would have followed my own logic...LOL!!
I let one already cut with a small balance, and last night PIF the new Discover Card's first cut statement....I just don't want it to look like I don't use the card....I want that little OK in the little box on my credit reports....do I still get the OK in that little box if balance is 0 for this/that particular month?
@Vegas247 wrote:
@Rhaeny wrote:
If you are not apping or going for a CLI then it makes no difference whether you PIF before or after the statement. Since util has no memory and you know what it takes to boost your scores, IMO it's just not something I worry about on a regular basis.
I let all of my CC's cut a statement and MOST of the time when I plan out an app spree is when I do the PIF to prepare for the spree. Now with that being said, I have had some unplanned sprees where I did have balances reported. It worked out for me but I can't help but believe I would have gotten better CL if I would have followed my own logic...LOL!!I let one already cut with a small balance, and last night PIF the new Discover Card's first cut statement....I just don't want it to look like I don't use the card....I want that little OK in the little box on my credit reports....do I still get the OK in that little box if balance is 0 for this/that particular month?
Yes. But as Rhaeny indicated if you are applying for anything, the micromanaging of your util will become exhausting. Current lenders can see your internal payment/usage history. If you are worried about sp CLI's or auto CLI's, keep apping to a minimum IMO
Also, please allow responses before bumping your thrrad. A two hour period before 9 am is not unusual. Thanks!
@Rhaeny wrote:
If you are not apping or going for a CLI then it makes no difference whether you PIF before or after the statement. Since util has no memory and you know what it takes to boost your scores, IMO it's just not something I worry about on a regular basis.
I let all of my CC's cut a statement and MOST of the time when I plan out an app spree is when I do the PIF to prepare for the spree. Now with that being said, I have had some unplanned sprees where I did have balances reported. It worked out for me but I can't help but believe I would have gotten better CL if I would have followed my own logic...LOL!!
I would also add that if your working with a thin profile or may be near your credit ceiling you may not want multiple balances reporting all at once as this could when combined with other factors set off concern with a lender. For example, if you just did an app spree to aquire new credit lines and then you have multiple balances reporting on different lines a lender (even if you subsequently PIF) could view that as someone who is running into financial problems and therefore may take AA. I think the best policy is to try to minimize drastic changes to your credit report (when you have new cards reporting keep your util down for a few months until things are established). If you have balances reporting all over the place, wait until you get your util down before an app spree (this is a good policy no matter what).