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@ccpat wrote:Why do some say PIF before due date and others PIF after reporting?
PIF before the due date if you want to minimize the balance on your statement. If you don't care, then just PIF after the statement cuts.
@Anonymous wrote:Ok..I have a question regarding utilization. With a total combined CL of around 20k, and fairly new AAoA, what would be a good target for utilization to make my garden grow.. Would it be in the 8-12% range? Or, am I better just making smaller purchases on my cards, and PIF when the statement cuts?
As low as possible. We can't tell you exactly where you'd maxmize point gain for revolving utilization drop and where you would start to see less gain per % drop. You'd have to test and monitor while accounting for other data changes to determine that.
That said, you don't need to constantly keep it that low. Generally keep in under 30%. If apping or requesting a CLI then you want it as low as possible as a report and score will be referenced and the balances and limits on that report will be considered. Preiovusly reported balances and limits won't matter.
@Anonymous wrote:Would I be safe to assume that I do have to use the cards so that a payment history will show?
Not necessarily. I have several accounts with no usage that show payment history. It really all depends on the specific creditor. You want sufficient usage to avoid account closure due to inactivity but you need to confirm what that policy is with each of your creditors and ensure that you meet at least the minimum requirements.
@ccpat wrote:Why do some say PIF before due date and others PIF after reporting?
It's all about what balance one wants to report. If you're fine with the balance reporting as is then pay after the report date. If you want to reduce the reported balance then pay the balance down with sufficient time for the payment to clear prior to the report date. Pay any remainder of the statement balance, if applicable, by the due date.
My spend and limits have been falling at about 6% and my FICO 8's are above 800 even with most cards reporting balances so I don't worry about it and just pay by due date. However, one looking to eke out additional points when applying may want to reduce reported balances and number of balances.
@elim wrote:big spend and big payments on less than half your cards every month, in some sort of overlapping rotation, and PIF = nice CLI mode,
Do not rely solely on the usage meme. It is also not just about the account itself. Any CLI is determined based on what one's entire credit profile and income qualify for. This is only anecdotal but several of my cards have received large CLI's with little or no usage.
@Anonymous wrote:Ok..I have a question regarding utilization. With a total combined CL of around 20k, and fairly new AAoA, what would be a good target for utilization to make my garden grow.. Would it be in the 8-12% range? Or, am I better just making smaller purchases on my cards, and PIF when the statement cuts?
If you're trying to optimize your score best thing is to keep overall utllization -- based on balances reported on statements -- at 9% or less. Ideal is all but one accounts reporting zero balance, with one account reporting 9% or lower.