- Centurion Member
- Posts: 188
- Joined: Tue Jan 10, 2012 7:11 pm
- Location: New York, NY
Well, you don't want to pay off all your cards before the statement date because, believe it or not, that negatively impacts on your score. I have never quite figured out why, but credit is all a game anyway.
Be sure that you understand that you're looking at two different dates, statement date and due date. You can carry balances past either of the dates if you want, it's just that you'll be paying interest if you don't pay off completely by the due date. Just keep your overall usage under 30%. Around 10% is better.
Rory mentioned not carrying a balance on five cards. I don't know what he meant by that; I have never heard of such a thing. Other than keeping one's total usage under 30%, I have never heard of there being any problems with carrying a balance on one card, five cards, or twenty. Although I have heard of some creditors considering individual card usage and balances as well as overall balances when deciding whether or not to approve a credit line. YMMV.
Cards and Credit lines Acquired:
Escape by Discover (7.75K), Barclay Holland America Visa (7K), Macy's store card (7K), Bloomingdale's store card (2.6K), Citi Custom Credit Line (3.5K), PayPal Smart Connect credit line (2.7K), Chase Freedom Visa (5K), Chase United MileagePlus Visa (5K), Chase Sapphire Preferred Visa (6K), Amazon store card (2.2K), Lord & Taylor store card (550), Nordstrom store card (1500), Gold Delta SkyMiles from American Express (3K), Discover It (6.5K), PayPal Credit Line (1K).