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Should I leave a balance?

Regular Contributor

Re: Should I leave a balance?


@Girlzilla88 wrote:

I always use the heck out of my limit then pay it to 0 when payment due then have a TINY bit showing as long as all of your cards add up to the 8.9% then the AZEO method still applies for example I have one card at 5% one card at 2% and one at 1% and it works Smiley Very Happy    But I still use my limit and be sure to pay down to 0 when payment is due then get it up to the 1 or 2% etc when the statement hits Smiley Happy


Hmm...cool, thanks for sharing. So not QUITE AZEO, but more ALMOST zero across the board?



Current Scores Dec 2018 – FICO 8
Message 11 of 16
Regular Contributor

Re: Should I leave a balance?

That is the way I do it some people do 0 but some cards frown and can penalize you for having 0 some will even forgive up to I think it's 4 dollars so I found that's my sweet spot for my cards but perhaps if someone has different cards the 0 would work better for them?    I'm just going by my big point jumps my score literally just jumped 60 points on my Experian from taking my higher CC back down to the 5% and still keeping tiny tiny balance on the other cards but over 5 bucks as long as the statement reflects no more than 8.9% together on mine I consistently see jumps Smiley Happy

Starting Score: 537
Current Score: 713
Goal Score: 775


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Message 12 of 16
Regular Contributor

Re: Should I leave a balance?


@Girlzilla88 wrote:

That is the way I do it some people do 0 but some cards frown and can penalize you for having 0 some will even forgive up to I think it's 4 dollars so I found that's my sweet spot for my cards but perhaps if someone has different cards the 0 would work better for them?    I'm just going by my big point jumps my score literally just jumped 60 points on my Experian from taking my higher CC back down to the 5% and still keeping tiny tiny balance on the other cards but over 5 bucks as long as the statement reflects no more than 8.9% together on mine I consistently see jumps Smiley Happy


Wow, that's awesome - real time experience! First of all, congrats on the big jumps - I can see your progress in your profile. Second, thanks for sharing your actual results, pretty awesome stuff!



Current Scores Dec 2018 – FICO 8
Message 13 of 16
Highlighted
Regular Contributor

Re: Should I leave a balance?

Yea np, I actually raised mine from lower 500's in Feb. 2018 to 755 December 2018, but I took advantage of it and refinanced my car and opened two unsecured cards, I was due for a CLI on my Amex today but found out they will be doing a HP so I decided to wait since I'm shooting for a Mortgage application literally tomorrow now that my scores reflect back over 700 Smiley Happy     I'll need to update my current scores tomorrow I didn't want to do the refresh until tomorrow right before I meet with the Mortgage person I work with haha.     But yes anytime I do it that way I see 20 point jumps, 40 point jumps and recently a 60 point jump so I know it works for me Smiley Very Happy    I hope it helps you too!

Starting Score: 537
Current Score: 713
Goal Score: 775


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Message 14 of 16
Regular Contributor

Re: Should I leave a balance?

VERY nice work, G-zilla - very happy for you! And no shame at all - you have to milk the score-thing for absolutely everything you can when it comes to nailing the mortgage! How are your mortgage scores - FICO 5/4/2?



Current Scores Dec 2018 – FICO 8
Message 15 of 16
Regular Contributor

Re: Should I leave a balance?

I'm refreshing them tomorrow Smiley Very Happy     I don't want to shoot it to soon and it not reflect the most recent right before I go see him Smiley Very Happy    But my Experian updated itself today so I know my Experian Fico 8 is sitting at 705 right now 

Starting Score: 537
Current Score: 713
Goal Score: 775


Take the myFICO Fitness Challenge








Message 16 of 16