I just learnt the hard way that credit score agancies check your card balances BEFORE the autopay day, such that they can see your pending balances. Is there any way to work around this stupid issue? I only use credit cards precisely to build credit score and the benefits. Is there any software that can take care of paying your card any time there is a balance there? Otherwise what is your strategy, check your cards balance every Monday?
I did this manually and it (temporarily) screwed up my credit score (I saw it immediately as I have subscribed to MyFico). Not having credit card balances is a bad thing in America đ
But autopay doesn't seem to solve the issue of spending too much % respect to your credit limit. Sure it ensures not going over the due date, but if you have used >30% of your credit limit during last month that will still punish you (what happened to me). Ideally I would want a software that transfers after every single charge on my card, so balance is always 0. Btw, is it worth MyFico? Better than creditkharma?
Yes, autopay wouldnât solve this. But what I am saying is, having $0 on all cards is âbad thingâ in terms of credit score. You need to have âsomeâ balance on at least one card
Just make sure to pay the card off and leave less than letâs say $100 several days before the statement day and stop using the card before you get the statement
So you schedule that in your calendar for every card? Looking for strategies to minimize the time sunk on this. I imagine every card may have different dates
No need to schedule. Almost for every credit card you can change âdue dateâ. I have 20+ cards. Made due date of half of them to ~10th of the month and the other to ~25th. The real statement will be generated I think +4-5 days after the due date. So youâll know that you need to pay everything off before 10th and before 25th. Just 2 dates to remember
Learnt?
Nothing worse than doing pedantic corrections when you are wrong
Pay pay off 99% of the balance BEFORE the period end, so that the the statement reflects less amount. Been doing that for years
So you track every single credit card and their dates? It seems an overkill. No way to automatize this?
Such a stupid question from op. You dumb shit. Get your limit high eventually and keep it close to 3% unless you make 20k and have 400 score.
Are you angry from cleaning databases at "New"? Need to control this rage
I am angry at how dumb fucks like or rather monkeys have access to technology
Just get more cards and request credit limit increase.
Credit card agencies ONLY see what you have in the statement as the final balance. It doesnât matter if you bought $5 milk once a month and these $5 went into statement or spent $20k, transfer $19995 several days after and once itâs cleared from pending the same $5 go into the statement. All they will see is $5.
Yeah but they see it BEFORE the autopay date, so that means if I am using a generous portion of my credit limit (simply to build points) that will hurt my score since they see high usage of my cards (even if no payment exceeding due date)
Thatâs by design