CarefulBuilder14 wrote:For the purpose of improving your FICO scores, it is good to let a small statement balance report to credit bureaus.
Just to clarify, for FICO scoring purposes it's one card reporting a balance with very low utilization (10% or less).
That said, I have balances reporting on all 10 of my cards and a TU FICO of 796 (due for an update any time now).
CarefulBuilder14 wrote:One thing I don't know...does making a lot of small payments on current-period charges make it harder to get a credit limit increase, since the bank sees you're rarely near your credit limit?
First of all, creditors aren't all identical so impact can vary from creditor to creditor. In general, CLI's aren't based solely on usage and payments really don't have much impact. A creditor knows how much you're using the account you hold with that creditor even if you're making multiple payments. It's certainly possible to receive CLI's regardless low usage, low balances, multiple payments, etc. My TrueEarnings card rarely has much of a balance and its CL was nearly tripled recently. There are a lot of other factors that come into play with CLI's.
Additionally, as you stated, low utilization is beneficial. The goal isn't to max out a card though short term high utilization isn't really an issue.
kcm7 wrote:Either you or I may have read actorpat's question wrong, but, the way I read it, he/she wasn't asking if paying early would reduce the rewards -- but whether paying early helps you get your rewards early.
Seems like the question is whether rewards are reduced to me but hopefully the OP can clarify.