Another Question

[Anonymous]

Hello all,

Last November I got a little credit card happy, one of the cards was with furniture store.  I haven't done anything with the card since we have been paying down balances but I got to thinking that I don't want it to go inactive either so I went and made a very small 30$ purchase to show some activity before they closed it. My question is, when is the best time to pay that balance off? Before it reports or after (so it reports something) I am actually not even sure when they report but it seems like if I want to show ability to manage the credit I have to show a balance at least 1 month then PIF the next is that right?. I have read so many threads that I am about super confused.  I want it to show as used on the report and I want it to report as PIF. How does that work?

Thanks in advance to anyone who can shed some light here please.

[Anonymous]

I would let it report, then pay it off. A $30 balance isn't going to have a significant impact on your utilization (and even if it did, that impact would wear off as soon as you PIF anyway).

[Junejer]

Hi Kyzmet, a couple of things to consider: 1) How many total open accounts do you have? You don't want more than half of your total trade lines report a balance. 2). If you are at that point now, then you want to PIF a different account to offset the effect.

[Anonymous]

Hi Kyzmet,

I understand that you are confused.  Some says PIF before closing date and let the CCC report $0 balance, and some says let the CCC report the balance and PIF before due date.

Both, TheNewWorldMan and ByrdMan are correct.  It depend on your cc's util and how many installment loans and revolving accounts you have. 

Message Edited by bunnyrabbit on 03-09-2008 11:14 PM