What is a good credit balance to have?

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Postby DavidNY » Wed Mar 13, 2013 6:59 pm

mattymatt808 wrote:Paying in full every month actually does not directly help or harm your credit, but it does prevent you from paying interest. If at any point you are paying interest on a credit card you are probably more than negating the benefits of the rewards it offers, so absolutely pay in full every month as it is the only way to "win" with a rewards card..

That's it .

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Postby Daniel » Thu Mar 14, 2013 12:16 pm

DavidNY wrote:That's it .

Agree 100%

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Postby exdoll » Fri Mar 22, 2013 4:51 am

For the past 2 years I always try to have a zero bal. reported, because in the past when a small amount was reported I watch my plus score drop from 10 to 24 points, I check my score's 4 times a month from all three credit bureau plus from MyFico (I pay 4 sub. fee's a month) Example : in nov. csp got me good ! I paid 10 minutes after my statement close so they reported $ 1879 bal. my line is $ 23000 , my Equifax was 762 then when bal. was reported, my score drop to 738 . When the zero bal. was reported next month my score jumped up 763. Even with a low bal. of $ 22 reported I still watch my score drop by 12 points. Not just plus scores , it did the same thing with my fico score to

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Postby Codeguru » Tue Apr 02, 2013 12:14 pm

So, the general consensus is that in order for the credit score number to increase, all I have to do is not have a balance when the statement date arrives?

Because I was assuming that in order for people to want to give you more lines of credit, meaning bumping up your score, they would WANT you to be the kind of person that pays the most amount of interest possible and gets screwed over like that but still pays anyway.

But the truth is they give you more score for just making use of their credit without them making money through interest, but only on the fees they charge businesses to swipe credit cards?...

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