While trying to improve your credit score, is it better to carry small balance or have cards paid off? ?
By admin - Last updated: Tuesday, March 2, 2010 - Save & Share - 2 Comments
Posted in improve credit score • Tags: Balance, Better, Cards, carry, Credit, Improve, Paid, Score, Small, Trying • Top Of Page
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2 Responses to “While trying to improve your credit score, is it better to carry small balance or have cards paid off? ?”
Comment from mister ed
Time March 2, 2010 at 8:20 pm
pay off completed each month!!!
Comment from BobWang
Time March 2, 2010 at 7:25 pm
You achieve the highest FICO scores by allowing 1 to 3 cards to report a small balance of < 10% your credit limits when your statements close.
You should pay that balance before the due date, so you do not pay interest.
Paying interest by revolving, or rolling over, a small balance does not help you FICO score any.
Join CreditBoards.com to see how the pros massage their FICO scores.
The screenshot hopefully demonstrates that I can play the game pretty well