@Scupra wrote:
@Anonymous wrote:I try and pay off all my cards before the monthly closing date each month. If my balance is ZERO after payment and the reported balance is zero, how will "Credit Card Activity" show up and will that adversely affect my credit? Thank you.......
It won't negatively affect your score and lenders can see the payment amount made in that month. What will "hurt" is if you have all your cards reporting $0 bal every month. FICO likes to see one card at less than 10% util and all others at 0.
why will all reporting $0 hurt? i have read on over 20 different websites just the opposite. the rule is much simpler than that: the lower the utilization the better, and never surpass 30% total or on a single card. if you have a $1,000 limit card that reflects $10 every month but shows to be paid on time, it doesnt help or hurt any more than if it showed $0 because the payment still shows as on time. doesn't matter if it's 0. that shows self control. also, following your 10% rule, if that $1,000 card reported $100 on it every month and showing paid, that'll still look worse than if it said $0 and the payment was made. All that is reported is if the payment was made on time or not, the amount of the payment, the credit limit and the balance reflected on the account. the credit bureaus don't care if you use a card 100 times a month or once every year. they just wanna see the payment reported as on time and the utilization low. only the bank cares how often you actually use it so they can make their money.
if you still think i am incorrect, please direct me to a credited website and i will gladly retract my above statements 
@Anonymous wrote:
@Scupra wrote:
@Anonymous wrote:I try and pay off all my cards before the monthly closing date each month. If my balance is ZERO after payment and the reported balance is zero, how will "Credit Card Activity" show up and will that adversely affect my credit? Thank you.......
It won't negatively affect your score and lenders can see the payment amount made in that month. What will "hurt" is if you have all your cards reporting $0 bal every month. FICO likes to see one card at less than 10% util and all others at 0.
why will all reporting $0 hurt? i have read on over 20 different websites just the opposite. the rule is much simpler than that: the lower the utilization the better, and never surpass 30% total or on a single card. if you have a $1,000 limit card that reflects $10 every month but shows to be paid on time, it doesnt help or hurt any more than if it showed $0 because the payment still shows as on time. doesn't matter if it's 0. that shows self control. also, following your 10% rule, if that $1,000 card reported $100 on it every month and showing paid, that'll still look worse than if it said $0 and the payment was made. All that is reported is if the payment was made on time or not, the amount of the payment, the credit limit and the balance reflected on the account. the credit bureaus don't care if you use a card 100 times a month or once every year. they just wanna see the payment reported as on time and the utilization low. only the bank cares how often you actually use it so they can make their money.
if you still think i am incorrect, please direct me to a credited website and i will gladly retract my above statements
How about a former administrator of these forums talking about CC Utilization?
Is he credited enough?
@MarineVietVet wrote:
@Anonymous wrote:
@Scupra wrote:
@Anonymous wrote:I try and pay off all my cards before the monthly closing date each month. If my balance is ZERO after payment and the reported balance is zero, how will "Credit Card Activity" show up and will that adversely affect my credit? Thank you.......
It won't negatively affect your score and lenders can see the payment amount made in that month. What will "hurt" is if you have all your cards reporting $0 bal every month. FICO likes to see one card at less than 10% util and all others at 0.
why will all reporting $0 hurt? i have read on over 20 different websites just the opposite. the rule is much simpler than that: the lower the utilization the better, and never surpass 30% total or on a single card. if you have a $1,000 limit card that reflects $10 every month but shows to be paid on time, it doesnt help or hurt any more than if it showed $0 because the payment still shows as on time. doesn't matter if it's 0. that shows self control. also, following your 10% rule, if that $1,000 card reported $100 on it every month and showing paid, that'll still look worse than if it said $0 and the payment was made. All that is reported is if the payment was made on time or not, the amount of the payment, the credit limit and the balance reflected on the account. the credit bureaus don't care if you use a card 100 times a month or once every year. they just wanna see the payment reported as on time and the utilization low. only the bank cares how often you actually use it so they can make their money.
if you still think i am incorrect, please direct me to a credited website and i will gladly retract my above statements
How about a former administrator of these forums talking about CC Utilization?
Is he credited enough?
and by the way, i wasn't meaning to insinuate that i am more knowledgeable than any other. i was displaying my findings which took hours upon hours to conjur up so that's why i requested to be proven wrong from a credited source.
You are correct in saying that the reported on time payment is what we want to show on our reports. Unfortunately FICO prefers that you carry a balance less than 9% one ONE card while ALL others report 0% util. This is to optimize your FICO score.
This link has a good explanation:
http://www.bankrate.com/finance/credit-cards/tiny-card-balance-helps-credit-score.aspx
The other credible resource I would lead you to is the one you're on
Take a look around and you will see plenty advice to report a small balance. I'm not saying you need to pay interest, just have to play the reporting game! I have also let a small balance report one month and not the next month and can confirm it makes a score impact. No offense taken, we all learn new things every day!
This link has a good explanation:
http://www.bankrate.com/finance/credit-cards/tiny-card-balance-helps-credit-score.aspx
The other credible resource I would lead you to is the one you're on
Take a look around and you will see plenty advice to report a small balance. I'm not saying you need to pay interest, just have to play the reporting game! I have also let a small balance report one month and not the next month and can confirm it makes a score impact. No offense taken, we all learn new things every day!
@Scupra wrote:
You are correct in saying that the reported on time payment is what we want to show on our reports. Unfortunately FICO prefers that you carry a balance less than 9% one ONE card while ALL others report 0% util. This is to optimize your FICO score.
This link has a good explanation:
http://www.bankrate.com/finance/credit-cards/tiny-card-balance-helps-credit-score.aspx
The other credible resource I would lead you to is the one you're on
i will read that. thanks for providing it 