@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
I use my credit card all the time, I pay off the balance before the bill is due.
Exactly, so as for as the credit agencies are concerned that means your not using it, it needs to report a balance however big or small for them to safely assume you are using and paying your card off every month, they can't see your purchases, only the credit card issuer can, the agencies only see the statements reported balances, so $0 statement looks like no use.
Edit: to be clear I am not saying pay interest, simply let your statement close with $10 and then pay it off immediately after your statement generates every month within the grace period, no interest and your building your scores with "responsible" use. Even though I agree I wish paying off before the statement counted because that is very responsible use.
So what happens when all my cards report $0?
I know AZEO would be best if you want to app for something but does it really matter if you don't have any upcoming apps?
Sorry for the delay! Busy with work and missed your reply. I'm pretty sure that 0% util just comes across as "inactive" if thats how you'd like to put it. I don't imagine it would really hurt you but it definitely won't help your score grow as your not showing responsible USE of your credit. Key word there is they want to see you using and paying off your credit in order to increase your score and show your less risky of a borrower as time goes on. Hope that helps!
All zero does carry a scoring penalty, usually about 15-20 points. It's very possible that OP stands to gain 15-20 points once he/she reports a small balance on the only card.
