Three Credit Questions.

[Kishan]

1. I am not carrying over a balance, however there may be a discrepancy between availible credit and balance, however my balance is paid in full. Will this harm me in any way?

2. I have a citi platinum for students, where I enrolled in "Click to pay," so I can pay my CC online. I usually pay it off whenever I feel necessary, multiple times through the month, a max of 4 payments in a month. Should I pay the entire balance once so it is recorded on my statement? Does the balance on my statement reflect anything?

3. This is my first CC, and I have a $2k limit. I have kept a zero balance for three months, and have paid off around $1500. Could this be considered too much?

Thanks for reading this. I understand this may be minutia, but I definitely want spotless credit.

Thanks,
Kishan

 

[RossMAN]

1)

however there may be a discrepancy between availible credit and balance

Why or how?

If you're looking at your credit report, those are usually 2 months behind in reported data.

Paid in full ON TIME = best possible solution

2) As long as you pay the minimum monthly payment on or before the due date, you are ok.
It is best to pay off your balance every month to avoid interest charges.

3) WTF? I don't understand what you're asking.

 

[laurenlex]

I am stupid. I like posting here. But I think for early credit accounts it is good to hold a balance and pay it off slowly. This shows you are not just dealing coke, but can handle a small debt.

Keeep paying on time (duuuhhhh), but PAY more than the minimum, but do keep a balance for a while. Then incure more debts, and pay it off, ON TIME, but not at the max and not at the min.

Your credit rating will go up in a hurry. Your credit score will not be real high until you have a big debt to pay. Buy a house early, if you can swing it, and if you pay on time, you will be a credit guru.

 

[simms]

Nope. I'm 19 with a 720. I just pay my bills on time, all the time. Never missed once. I had one MBNA, for about 7 months, and got another with a GOOD bank. Closed the MBNA one (I'm dumb). Got another VISA with a bank.

Simon

 

[Dulanic]

Overall your balance over time makes no difference except for that exact month, there is no record of what your balance was each month except for that current month (Actually its usually 2 months delayed). Having a open account is all you need, even if it has a $0 balance for 4 years, it will show as paid on time every month. I have a credit card I havent used in 6 years I keep open and it always reports as paid on time, I keep it open because it is my oldest account.

 

[Yossarian]

Originally posted by: laurenlex
I am stupid. I like posting here. But I think for early credit accounts it is good to hold a balance and pay it off slowly. This shows you are not just dealing coke, but can handle a small debt.

Keeep paying on time (duuuhhhh), but PAY more than the minimum, but do keep a balance for a while. Then incure more debts, and pay it off, ON TIME, but not at the max and not at the min.

Your credit rating will go up in a hurry. Your credit score will not be real high until you have a big debt to pay. Buy a house early, if you can swing it, and if you pay on time, you will be a credit guru.

it makes me so mad to see you write that! it is bad BAD BAD advice!!! you're just throwing your money away.

 

[Kishan]

Originally posted by: RossMAN
1)

however there may be a discrepancy between availible credit and balance

Why or how?

If you're looking at your credit report, those are usually 2 months behind in reported data.

Looking at my citicard statement. It says something to the effect of Availible Credit:$1750.25. Current balance: $0. How is this reported to the credit bureaus? Should I even be worrying about this?




2) As long as you pay the minimum monthly payment on or before the due date, you are ok.
It is best to pay off your balance every month to avoid interest charges.

I pay multiple times in one month. Would it look bad to have an $800 balance, even though it will be paid off? Or pay $200 4 times in one month? Does it even matter?





3) WTF? I don't understand what you're asking.
Maybe I should clarify that one. I haven't kept a balance over to another month. However I have spent and paid off around $1500. Am I spending too much on the card? Similar to danman's problem.

 

[Kishan]

Originally posted by: Yossarian

Originally posted by: laurenlex
I am stupid. I like posting here. But I think for early credit accounts it is good to hold a balance and pay it off slowly. This shows you are not just dealing coke, but can handle a small debt.

Keeep paying on time (duuuhhhh), but PAY more than the minimum, but do keep a balance for a while. Then incure more debts, and pay it off, ON TIME, but not at the max and not at the min.

Your credit rating will go up in a hurry. Your credit score will not be real high until you have a big debt to pay. Buy a house early, if you can swing it, and if you pay on time, you will be a credit guru.

it makes me so mad to see you write that! it is bad BAD BAD advice!!! you're just throwing your money away.

yes, i believe yossarian is correct. This is definitely one of those urban legend types, where it makes sense to have the CC companies make some interest off you, "because it will make them feel good." Bad advice I hear.

 

[jagec]

Originally posted by: KPSHAH316
1. I am not carrying over a balance, however there may be a discrepancy between availible credit and balance, however my balance is paid in full. Will this harm me in any way?

2. I have a citi platinum for students, where I enrolled in "Click to pay," so I can pay my CC online. I usually pay it off whenever I feel necessary, multiple times through the month, a max of 4 payments in a month. Should I pay the entire balance once so it is recorded on my statement? Does the balance on my statement reflect anything?

3. This is my first CC, and I have a $2k limit. I have kept a zero balance for three months, and have paid off around $1500. Could this be considered too much?

Thanks for reading this. I understand this may be minutia, but I definitely want spotless credit.

Thanks,
Kishan

1) doesn't make much sense. If your balance is always paid in full by the time it is due, you're in good shape. I don't understand what you mean about a discrepency.

2) Once again, as long as your entire balance is paid off before it is due, you're in good shape. Just make sure they aren't charging you a transaction fee or something every time you pay.

3) "Too much"? I think that you're spending too much money, yes...but I don't think that's what you're talking about. What do you mean?

 

[simms]

Originally posted by: Yossarian

Originally posted by: laurenlex
I am stupid. I like posting here. But I think for early credit accounts it is good to hold a balance and pay it off slowly. This shows you are not just dealing coke, but can handle a small debt.

Keeep paying on time (duuuhhhh), but PAY more than the minimum, but do keep a balance for a while. Then incure more debts, and pay it off, ON TIME, but not at the max and not at the min.

Your credit rating will go up in a hurry. Your credit score will not be real high until you have a big debt to pay. Buy a house early, if you can swing it, and if you pay on time, you will be a credit guru.

it makes me so mad to see you write that! it is bad BAD BAD advice!!! you're just throwing your money away.

OP is soooo wrong. Pay your bills on time and in full.

I bolded the parts that are true.

 

[Kishan]

Originally posted by: jagec

Originally posted by: KPSHAH316
1. I am not carrying over a balance, however there may be a discrepancy between availible credit and balance, however my balance is paid in full. Will this harm me in any way?

2. I have a citi platinum for students, where I enrolled in "Click to pay," so I can pay my CC online. I usually pay it off whenever I feel necessary, multiple times through the month, a max of 4 payments in a month. Should I pay the entire balance once so it is recorded on my statement? Does the balance on my statement reflect anything?

3. This is my first CC, and I have a $2k limit. I have kept a zero balance for three months, and have paid off around $1500. Could this be considered too much?

Thanks for reading this. I understand this may be minutia, but I definitely want spotless credit.

Thanks,
Kishan

1) doesn't make much sense. If your balance is always paid in full by the time it is due, you're in good shape. I don't understand what you mean about a discrepency.

2) Once again, as long as your entire balance is paid off before it is due, you're in good shape. Just make sure they aren't charging you a transaction fee or something every time you pay.

3) "Too much"? I think that you're spending too much money, yes...but I don't think that's what you're talking about. What do you mean?

clarification 2 posts above. Should have mentioned my basis of information is the citicard statement, not a credit report of some sort.