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building payment history

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Anonymous
Not applicable

building payment history

i have a question, i paid my opensky card down to $0 this month before the statement cut and it updated in my CR to show the $0 balance, however when i go to check the payment history it shows no information available for the month. Does that mean im not getting a posotive payment history since it was at $0? Should i be having a small balance report to all my cards each month to help build my payment history faster?

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Anonymous
Not applicable

Re: building payment history

The only experience I have with this issue is as follows.  I opened a new credit card in March of this year.  (I had a stable credit profile with three old cards and several other accounts up till this point.)  Mostly out of curiosity, I watched my credit reports like a hawk, pulling them frequently, during the first 100 days after I opened it.  I took an immediate score hit after I opened it and then there was no score change.  For the first 70-75 days the new account did not have any "OKs" next to the payment history section, although I was using the card a small amount and paying each staement in full.

 

Then at Day 75 the reports started showing two OKs (for the previous two payments).  Exactly at the same time I got a small but significant boost in my score.

 

That's purely anecdotal, take it for whatever it is worth.  Maybe that's pure voodoo.  But my feeling is hey, you have opened a new card, why not use it a little every month, let the balances report to the credit bureaus, and pay them in full?  It won't hurt you to do that at any rate, and it is creating a kind of payment history.  And if you ever need to maximize your score you can always pay all cards down to $0 except one, and keep your overall utilization at 1-5%.

Message 2 of 3
Revelate
Moderator Emeritus

Re: building payment history


@Anonymous wrote:

i have a question, i paid my opensky card down to $0 this month before the statement cut and it updated in my CR to show the $0 balance, however when i go to check the payment history it shows no information available for the month. Does that mean im not getting a posotive payment history since it was at $0? Should i be having a small balance report to all my cards each month to help build my payment history faster?


Payment history from where?  EQ / TU report the prior month for the current report... so my September card updates put the pretty OK in for August.




        
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