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Nice weather up here at the 700's. quick question about PIF

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Valued Member

Nice weather up here at the 700's. quick question about PIF

Hello everyone,

I'm finally on the 700 woot woot, I manage to get a loan from a friend with no interest to finish paying all my debt beside my car loan.
All my credit cards are paid in full but im curious how to use this to my advantage. For my understanding lets say Card #1 I let a dollar balance when the statement closes, then I paid this dollar right after getting the statement and then spend another dollar right before the statement closes again?

For exp.
The billing cycle is from the Nov 10th to Dec 9th, on Dec 8th I do a 1 dollar charge on the card, so ill have a balance on the cycle of Dec10 to Jan 9th, then I pay this dollar as soon as I get the statement then I charge another dollar on Jan 8th to have a balance for the next cycle and so on.
Is this how this work?image.png

 






Message 1 of 6
5 REPLIES 5
Senior Contributor

Re: Nice weather up here at the 700's. quick question about PIF

Congrats! You can let $10 report and dont be a cheapo. LOL!!!!!! Let whatever you chose to report as long as its below 8.99%. Statement date comes and passes. Then PIF whatever you left for the statement date before the next due date. Its that simple. Most importantly. Make sure you pay your friend back. Your lucky you have them. Too many horror stories on here about co-signers and such.





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 2 of 6
Valued Member

Re: Nice weather up here at the 700's. quick question about PIF

Strong bond with him, i was really surprised by it. I merge it with some money from stuff i sold and decided to pull the trigger and just paid everything.
You mean pay the amount so is PIF then do another small charge to it so it shows a balance for next statement or is it every other statement let the small charge.






Message 3 of 6
Senior Contributor

Re: Nice weather up here at the 700's. quick question about PIF

We call it rinse and repeat. Whatever you chose to let post on every months statement date and then PIF before the due date is fine. Charge all you want. Just pay it down to what you decide to have report each month before the statement date.





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 4 of 6
Valued Member

Re: Nice weather up here at the 700's. quick question about PIF

I'm so sorry I was thinking something else and reading your post i just realize it. lol i was worry about the interest. but I see what you mean now. Thanks again. Also Cash back rocks have stacked up almost $150 in 4 months woot woot






Message 5 of 6
Senior Contributor

Re: Nice weather up here at the 700's. quick question about PIF

Booyah! Thats how you play the game. Some people love their cash back cards and then run a balance and then pay interest. Why?  I call it profit for us. The banks are going to pay me to use their card. I'm not going to pay them to use them. Now if an emergency came along. That's a different story. Then m a y b e I'd carry a balance. Smiley Happy





My posts are JMHO. I DO NOT claim to be a FICO expert. Just sharing my experiences from rebuild to recovery after BK DC. My siggy is not to brag at all. Just to show fellow members what can be accomplished when you do it right and play the FICO Credit Game.
Message 6 of 6
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