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You always want to pay the entire balance off (if you can) before the due date, in order to avoid finance charges. What everyone is referring to is the balance at the time the statement closes. The statement balance is what reports to the CRAs and appears on your CR. You don't want to pay your entire balance before the statement closes, if you are trying to maximize your score.
@hpertrain wrote:I kkep seeing posts that say keep at least a $5.00 balance on your revolving creditcard accounts versus a 0 balance. I'm in the habit of paying my credit card balance down to 0 after using one each month. Am I missing something? Should I pay the entire balance off except for $5.00,will that increase my score?
the second one is better. 1-9% util on all for max fico points.
section8 wrote:
Can anyone tell me if:CC1 $10CC2 $10CC3 $0CC4 $0CC5 $0CC6 $0Is better then:CC1 $10CC2 $10CC3 $10CC4 $10CC5 $10CC6 $10?
@fused111 wrote:the second one is better. 1-9% util on all for max fico points.
@Anonymous wrote:Can anyone tell me if:CC1 $10CC2 $10CC3 $0CC4 $0CC5 $0CC6 $0Is better then:CC1 $10CC2 $10CC3 $10CC4 $10CC5 $10CC6 $10?
@Anonymous wrote:Well, that brings me back to #1, since I have other accounts. I wish we could find out for sure...