How much revolving Credit Card debt do you have? (paying, rates, account)

[mathjak107]

i pay off our cards as soon as i charge , usually the first day the charge posts .,...i never wait for months end . it is just something i have been doing for decades .... every statement shows the months usage no matter how i pay it . it just may get reported a month sooner or later depending on the statement closing date

https://www.thebalance.com/how-havin...t-score-960530

[Mr. Zero]

Originally Posted by skeddy

agreed. No balances at the end of the month, score in 800's.

Same here. We always pay off the full statement balance (or more) and our credit scores are in the 800s as well.

[TheMartianChick]

Originally Posted by mathjak107

i pay off our cards as soon as i charge , usually the first day the charge posts .,...i never wait for months end . it is just something i have been doing for decades .... every statement shows the months usage no matter how i pay it . it just may get reported a month sooner or later depending on the statement closing date

https://www.thebalance.com/how-havin...t-score-960530

From the article:

Having a zero balance on your credit card, e.g. because you pay off your credit card in full every month, doesn’t mean that the zero balance will show up on your credit report — or that the zero balance will be used to calculate your credit score. Here’s why: your credit card details are reported at various times throughout the month (usually on the account statement closing date) and could be reported on a day that your credit card balance is not $0. For example, if you make a purchase $100 on the 5th of the month and pay it in full on the 17th of the month, but your credit report was updated on the 12th of the month, your credit report won't show a $0 balance.


This is exactly the reason that my parents have an issue. Having only a couple of cards, my mother pays the bills within a couple of days of charging and usually only exercises one card per month. No statement has generated yet and the date that her cc companies report hasn't occurred. When the statement eventually is generated, it does show her usage & payment but the credit report may not demonstrate that she has made any charge at all. She may make a charge on the 5th and pay it off on the 10th. If the card statement and credit bureau update occur on the 15th, her credit report will reflect a zero balance and the score is determined based upon that apparent (lack of) activity.

[mathjak107]

and i am telling you for decades we pay the cards right after we charge with no effect .. both scores are in the 800's ... fico has 55 different fico scores that weight different things ..the consumer score you see is very different from the industry tailored scores used . many scores give you no extra points for carrying a balance.

"Is it Better to Have Zero Balance at Month's End or All the Time?
From a credit building standpoint, you’re better off making purchases with a credit card and paying for them in full by the due date than you are not using the card at all. While refraining from tapping into a card’s credit line does illustrate a certain measure of financial self-control, it doesn’t necessarily indicate that you’ll be able to pay back loans and lines of credit according to the terms of your agreements should you ever need to leverage debt. Making purchases with a credit card and proving yourself capable of paying the right amount at the proper time at least gives financial institutions a track record of credit utilization and payment on which to base their estimates for future performance.

payment history and on time payments reflects usage , and credit utilization , whether you have a balance or not .

https://wallethub.com/edu/cs/credit-...balance/25555/


what counts the most ? not a revolving balance ...


1. Payment history
The record of loans or credit lent and how quickly the loan is paid off comprise about 35% of a FICO score. Late payments always cause a FICO score to go down. The longer it takes to make a payment, the bigger the impact on the score. Accounts that are submitted to a credit agency or a filing for bankruptcy also significantly affect a credit score.


2. Credit age
The length of time a person has had credit and the general age of each credit issuance account for about 15% of a FICO score.

3. Debt relative to credit available
The amount of available credit that a person uses makes up about 30% of the FICO score. Just because a person has credit available to them doesn’t mean it should all be used. Using less credit more often and repaying it quickly is a good way to boost your FICO score.

4 Having multiple lines of credit
Having more than one line of credit that is consistently paid off is good. Keep in mind that having different types of credit – revolving credit such as a credit card and installment loans such as a mortgage or car loan – helps boost credit scores.

[Aredhel]

Originally Posted by TheMartianChick

[b]She may make a charge on the 5th and pay it off on the 10th. If the card statement and credit bureau update occur on the 15th, her credit report will reflect a zero balance and the score is determined based upon that apparent (lack of) activity.

So pay the card balance off in full after the statement posts but before the payment is due. Problem solved!

[BeerGeek40]

$146 - to be paid off in a few days

[Thatsright19]

We probably have around 80k to 100k in available credit. I float a balance of 20 to 30k at zero interest or just for the month or so on revolving cash back categories. We’re generally using 5 or 6 cards simultaneously.

Credit scores in the mid 750 ranges. My wife tends to have a higher score than me and gets way way larger balance offers.

[TheMartianChick]

Originally Posted by Aredhel

So pay the card balance off in full after the statement posts but before the payment is due. Problem solved!

That is what I do... Unfortunately, I cannot control the way in which my 85-year-old mother chooses to manage her affairs. She was born during the Depression and really doesn't like any kind of debt.

[PesachSeder]

$0.00

[djsuperfly]

Originally Posted by Aredhel

So pay the card balance off in full after the statement posts but before the payment is due. Problem solved!

Every card I've ever had the statement close date occurs after the payment due date. Wouldn't make much sense to have it any other way.