AboveAverage

No balance or 10-20% or lower on CC balances?

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Hi,

Guys, I know this has been talk about numerous times, but do you guys think I will get a FICO jump keeping no balance on my CC balances OR do I have to show a balance when the OCs report to the CRAs? I find it much more important to make sure that my CCs are paid off and then use them again, but take a look at my signature! TU has shot up sweetly from 614-642-673!! But then look at EX. I went from 621-664-654... :( I think it was because my BOA secured showed up. That's the only thing I can think of. But all of my scores are overall improving. I'm trying to get that nice (legal) FICO jump as quickly as possible (not to be confused with simply quickly...I know this takes time...but I want to make sure it's not slower than it needs to be).

Thanks guys.

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Well....I'll beat Willingtocope to it:

If you want your "sucker score" to improve - keep 10-20 percent balance on the card. If you want your "mortgage score" to increase - pay it off so it reports 0 balance.

Realistically, any difference IMHO will not be that much - so why pay the interest? Sure, it may be 1 or 10 points, but realistically, why pay interest? for a few arbitrary points when at that time you're not really making a biig app (home/car)?

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The mortgage score is really what is up. Thank you gentlemen...you made a very important decision very easy for me.

I'll basically do what I've been doing. But I'll make sure that everything reports as zero. It's more important that I spend with my credit so that I can get favorable CLIs with the stuff I got. But it's even more important that I get a very favorable mortgage. I know I can get a mortgage right now.....but I want a better one when the time is right.

BTW, I currently NEVER pay interest on my CCs...it just always happens that I have a balance reporting. I pay my CCs off every two weeks, but APRs are not an issue with me currently. It will only happen should a terrible emergency befall me. It is my hope though...that I can tap into cash I would have saved up on top of my collateral I got with my secured card. With my tax refund that I'm getting hopefully this week, I want to pretty much use some of that cash so I can go back to paying my groceries with cash. If I can do that, my CC util will really just switch to bill paying only, as well as clothes from Macys and Bloomies.

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