CREDIT WEIGHT FACTOR -Raise Score

[RAISEUP]

First, thanks to everyone out there contributing to this forum.

In other news...after learning, reading and experiencing the importance of paying down the debt on credit cards, I thought it would be interesting for (us -yeah, it fells like us vs. them doesn't it?) to post when (our) creditors actually report to the CRA's (they) for example. I called First Premiere and they report on the 9th of every month.

What this means is that if (we) have a card with $300 limit and are maxed to $290. Its smart move for that boost to make sure if possible to have $200 of that paid by the 8th. This has definitely been proven to in my experience to raise scores.

[Anonymous]

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RAISEUP wrote:

I called First Premiere and they report on the 9th of every month.

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Just a small correction. They report YOUR account on the 9th. They likely report someone else's on a different day.

Most are very willing to change your payment due date and/or statement close date. This can be very helpful say if your mortgage or rent is due on the 1st, but your car note is due the 15th and you'd rather pay all your CCs on the 15th as well. It can make financial matters a bit easier and predictable.

I offer up this bit of info because many report to the CRAs on or after your statement close date. It's the ethical thing to do. Payment due date is the 15th, statement close date is the 18th, they report to the CRAs on the 19th. If you PIF, or down to between 1 and 9 percent util, ontime then you reap the benefits on your CRs.

With other OCs, their reporting may not be tied to statement closing dates. But, you can always ask if they will change the date they report, or if you can change the statement close date and in doing so change the date they report.

[Anonymous]

Although myFico are the only scores that matter...I tried this and did not see a single point increase in my Fako Scores (Truecredit)...

I charged $494 on my $500 CL card. They reported it and next month i paid it down to 5 bucks. When that low balance got reported, my score was exactly 0 points higher than it was when i had $494 reporting..

[MidnightVoice]

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Irvin wrote:

Although myFico are the only scores that matter...I tried this and did not see a single point increase in my Fako Scores (Truecredit)...

I charged $494 on my $500 CL card. They reported it and next month i paid it down to 5 bucks. When that low balance got reported, my score was exactly 0 points higher than it was when i had $494 reporting..

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MY FAKO scores are more or less set in stone