PIF Question

[Believe1970]

I was recently approved for a Discover Card with a $1000 credit limit. Not big but it's a start. I've raised my score to mid 650+ on all thre CRA's. My question is at what point of the bill cycle do you PIF? Can you pay when you charge it or should you wait?

[tntexans72]

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@Believe1970 wrote:
I was recently approved for a Discover Card with a $1000 credit limit. Not big but it's a start. I've raised my score to mid 650+ on all thre CRA's. My question is at what point of the bill cycle do you PIF? Can you pay when you charge it or should you wait?

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You can PIF after the 1st statement is posted when you log in.

You can pay when you charge, but you would have to PUSH the payment through your bank for the amount owed.

[john398]

You probably should pay just before the statementt cuts so it shows 0 on your cred it report

[Anonymous]

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@Believe1970 wrote:
I was recently approved for a Discover Card with a $1000 credit limit. Not big but it's a start. I've raised my score to mid 650+ on all thre CRA's. My question is at what point of the bill cycle do you PIF? Can you pay when you charge it or should you wait?

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Hi Believe,

Congratulations!      You are right ~ 

Could you please tell us about your ccs?

How many, CL, Current Balance.

Example:

Card A    1k CL        0 Bl

Card B    2k CL    200 Bl

Answer to your question for just Discover card will be already answered by previous members.

Keep in your mind, payment from the bank ... it takes few days to delivery.  So, make sure to make the transaction at least 3 business days prior to its closing or due date. 

[Believe1970]

Thanks.
Barclay - $2200 - $760.40 bal
Orchard - $900 - $0.00 bal
First Premier - $425 - $0.00 bal
Credit One Bank - $600.00 - $0.00 bal
Discover - $1000 - $ 0.00 bal

[Anonymous]

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@Believe1970 wrote:
Thanks.
Barclay - $2200 - $760.40 bal
Orchard - $900 - $0.00 bal
First Premier - $425 - $0.00 bal
Credit One Bank - $600.00 - $0.00 bal
Discover - $1000 - $ 0.00 bal

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So, you have total of 5 ccs include Discover.   I see one of your ccs util is high as 34.56%  and total util is almost 14.84%.

If you want to, you can carry the balance up to $90 and reduce the Barclay balance down to as much as possible to less than $200.

[Believe1970]

Will do. Thanks.

[Anonymous]

You're welcome ~   Good Luck! 

Make sure to bring the Discover's balance down between $1/mo~$50/mo after you bring the Barclays' balance down to below $200. 

If you can, try to keep it down in between $1/mo~$100/mo.  And keep the other 3 ccs balance on $0/mo.