Non-AZEO Question

[Anonymous]

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@UpperNwGuy wrote:

If you pay all your cards in full after the statement cuts, it really doesn't matter how many statements cut with a balance.

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Hi UNWG!  Can you clarify what you mean?   Are you saying that (for example) if a person had 10 credit cards on his report and nothing else, then whether he had 1 card with a small statement balance or 10 cards with a small balance he'd have the same score?

That's untrue for all FICO models, and for some models the scoring difference can be quite substantial.

[SouthJamaica]

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@Anonymous wrote:

Our OP indicated in his initial post that two of his cards always reported a balance and three always reported $0.  ("I let these 2 cards report a statement balance, then PIF before due date.")

The OP is confused because SouthJ missed that and told him that he has a penalty for all of his cards reporting a balance.

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Thanks for catching my mistake @Anonymous  I will update my earlier post.

[SouthJamaica]

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@j615 wrote:
Hmm. I guess I’m confused a bit now from the previous replies. I always thought if there was a balance printed on the monthly statement, it would count as a balance being reported? Am I getting this wrong... or just not understanding it?

I closed my mortgage last year with best rate possible and won’t be buying again anytime soon, so good that I don’t need to worry about mortgage score right now. But it’s good info to know for the future. Thank you all!

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My apologies @j615 I had misread your original post, and thought you were paying everything before the statements cut. I've edited my earlier post.