Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
CreditBuilder85

1 Contribution
0 People Helped
Paying your card balance( and left les than 10%) before the bill cycle close, helps my credit?
Ok here is the thing...
I'm working on create my credit, I have no credit History(start 8 months ago)..
I have a reward card from AMEX, What I'm doing is using that card for all my purchases to get points, but one week before the bill cycle end y pay almost all the ballance and left in the card les than the 10% of the Credit Limit...
Example:
CL: 2000
During the month I use the card for almos 1000 in purchases (50%)
One week after the bill end i made a payment of (900) the bill ends with 100 that is 5% of the CL...
then before the bill comes i payoff my balance.
Is this a good approach to increase my Credit Score and get rewards at the same time?
Thanks.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
675 Contributions
353 People Helped
Most Helpful Response

Helpful to 1 out of 1 people

I think you have it right, but just in case let me go over it. 

2000 credit limit / 1000 balance

statement date is say the 15th of each month.  on the 13th you are paying it down to $180.

after the statement cuts you pay of the remaing balance.

it this is correct then yes you are doing it right

Reply by
CreditBuilder85

1 Contribution
0 People Helped

Thanks for your Response....

Yes, I'm doing exactly what you said.

My concern is because in my  CK Report there is a field for every Credit Card named: Highest Balance

this Higuest Balance show:1000, even when the balance field value is $180..

My Concern is if the Highest Balance field can have a negative impact on my credit.

Top Contributor

Reply by
johnnybinsea

675 Contributions
353 People Helped
Helpful to 1 out of 1 people

The highest balance is fine.  As a matter of fact it could help in a manual check, because it shows that you can run up your balance and still pay it off.  On one of my cards it shows a high balance of $8500.  It has not hurt me at all.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.