When's the best time to pay credit card bill? (for your score)

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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American Express Charge Card Update

Postby Maximilian » Mon May 07, 2012 10:21 am

I charged around $60K on my American Express charge card and waited for the cycle to close. After checking my credit report, this amount is now reflected under 'Installment' category and NOT revolving accounts. This is what I was hoping for. Mind you I saw an increase of 30-40 points across different credit bureaus.

Based on my credit portfolio, I have reasons to believe that the credit spike was the result of further diversifying my portfolio. Prior to my American Express charge card, I only had 4 revolving accounts and one installment (small CD loan purely to help me build credit here in the US) account. Now I have total of 2 installment accounts and 4 revolving accounts.

Hope this info helps anyone who's trying to build credit from scratch and/or improving their current scores.


PS: I'm about to test Carshem's theory of having a card with a balance of 1-9% to see if that will further increase my credit score. Will post an update on 05/17/2012.

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Postby Crashem » Mon May 07, 2012 10:44 am


Really curious about the lift too. Are you getting FICO scores or some other scoring system btw? Probably most accurate score (assuming bureaus have all same info) is the EQ Fico score from myfico as it the basically the scoring model used by most lenders using a vanilla eq fico scoring model. As for the "highest" score, it will be somewhere in that 1-9% range. You have to play around with it to find your sweet spot which will change as your score changes.
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Postby SuperKirby » Sun Aug 18, 2013 9:35 pm

FutureBillionaire wrote:if you have a card like a Visa Signature that doesn't report a credit limit, your utilization can be negatively impacted if you carry a balance. I would recommend not carrying a balance on those types of cards.

Apologies for bumping such an old thread, but this statement has me concerned...

For awhile I kept telling my GF to pay off all her other revolvers off, and to keep the balance on the BofA Visa Siggy instead (if she doesn't have the funds to pay everything off of course).

Since it doesn't count as her utilization (which is currently reporting around 5%), it seems to make her score excellent (FICO 710, FAKO 725). Her balance on her BofA Visa Siggy is actually $4K/$5K CL. This is actually her highest CL for a revolver and if it was reported as part of the utilization, it would make her overall UTIL around 60%!

I figured since it reports as a 'charge' card rather then a revolver, then it's okay to keep the higher balance if I had to choose between the BofA Visa Siggy vs her other revolvers.

So how is her UTL being negatively affected? I'm worried i've been giving her the wrong info for months, lol - i guess.

ETA: (Sorry, just realized this is off topic from the thread title. Mods - let me know if i need to make a new thread or something)

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Postby FutureBillionaire » Mon Aug 19, 2013 4:10 pm

I believe that is shows up as credit used without actually having an available credit limit. It's my understanding that it raise utilization based on what I've seen on my own reports.
Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

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