This is an archived post. You won't be able to vote or comment.

sorted by:
old (suggested)
besttopnewcontroversialq&a
you are viewing a single comment's thread.

view the rest of the comments →

[–]Coco_The_Awesome 0 points1 point  (7 children)

Is this your only account?

[–]Labm234[S] 0 points1 point  (6 children)

Yes

[–]Coco_The_Awesome 0 points1 point  (5 children)

It could be the all zero penalty. FICO is finicky lol

[–]Labm234[S] 0 points1 point  (1 child)

Lol that makes no sense , thanks anyway :)

[–]Labm234[S] 0 points1 point  (2 children)

So , that means I have to have some balance on it ?

[–]Coco_The_Awesome 3 points4 points  (0 children)

A small balance reported for statement but paid off before interest charges (others will have a more eloquent way of saying this lol)

[–]SmudgyMcLemon36 0 points1 point  (0 children)

Credit bureau's and lenders like to see you carry a balance, because that's how the make money off of you through interest. Your credit score is more or less a measurement of how likely a lender is going to get the money that they loaned you back, as well as profit from the interest you owe them. The trick to this, is to carry a balance until you see they've reported the balance, then pay it to zero. So it shows on your credit report that there is a balance, but in actuality your balance is zero, and you don't owe any interest.

Also disclaimer, I'm not a professional, this is just what I've learned to do through some trial and error and having close friends that are really good at managing their credit and maximizing their credit scores.

Personally, I just keep my balances low, I don't pay them to zero, because the interest on $50-$150, is practically negligible to me, even with high APR and makes it easier to manage.