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making minimum payments = negative account?

Established Contributor

Re: making minimum payments = negative account?

kevinjjc wrote:
Making minimum payments will keep your account positive, but don't expect any CLI's, and you might get balance chased.

+1, seems like Lenders get nervous if you have a large balance and are only making the min payment for months. thats when they like to start balance chasing, which will probably kill your util.

Starting Score: EQ 609, EX 633(Fako), TU 700
Current Score: EQ 699, EX 758, TU 733
Goal Score: 720 across the board
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Message 11 of 13
New Contributor

Re: making minimum payments = negative account?

Yes, as long as you pay the minimum you'll be fine on your payment history. Paying on time is a HUGE facor on your FICO score. You will still want to pay down your balance to better your score as well. Good luck!

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Message 12 of 13
Valued Contributor

Re: making minimum payments = negative account?

my best buy store card is my oldest card at 2 years and a month. ive held balances for more then 50% of th credit line on 0% interest. there has been span's of when i only made minumum payments. 4/5 months at a time. 

working for 8/9 dollars an hour and buying game systems/ games/ and tvs. is part of my younger teenager self. (not the case anymore)

i was never EVER late. no i didnt pay in full but i did pay at least the minumum if not more.  

my reports have no negatives. 

all paid as agreed. with ok in every little box . 


edit: forgot to mention that my cl was 2k when i opened the card and now is at 2.5k. i recently held a 2k balance with making only min payments for 4/5 months since there was no interest and i wasnt planning on buying anything or apping for anything. 


as soon as i decided it was time for a new car, i called them and authorized them to pay my account in full through my checking account (this was 2300 dollars out of 2.5k) and i have not seen a decrease or a line closure. 


but as stated my reports have no negatives what so ever so every case is ymmv as always. 

Current: Discover Fico 709 3/15 Walmart Fico 743 4/15

Inquiries (24 Months): EQ 6 TU 1 EX 6 | Most Recent: 4/09/2015
Over 12 Months:9

2015 Goals:
Lower Utility
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Message 13 of 13