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Originally Posted by vsjhoc
Actually, it doesn't matter whether you pay in full or carry a balance to the next month. What matters is what your balance is on the day that the credit card company reports it to the credit bureau. Say your your bill is $100 and it is due on the 31st. You pay it off in full on the 30th. But if your credit card reports on the 29th, it will say you have a balance of $100. I think you can find out from the credit card companies what day they report on, if you want to get totally anal about these things.
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Well, that's the problem - I never wait for the bill, I usually just transfer the amount from chequing as soon as I get home.
Of course, that means that my payments post before the charges on a regular basis, which supposedly drives my creditors nuts(not that it has stopped them from upping my limits every six months or so).
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Originally Posted by vsjhoc
I have also heard that about 25% utilization is primo. FICO and the credit bureaus have always tried to keep this stuff hidden so that people like us don't learn how to outsmart the system!
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Within the last month I have been offered over $100k of *new* credit. On top of the $150k I have already. That's scary!
Jackie