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Personal Finances / Buying or Selling a Home


Subject:  Re: Debt-to-income ratio if self-employed Date:  2/12/2013  1:49 PM
Author:  CCinOC Number:  124741 of 128866

I think it has a high likelyhood of helping keep the balance low- and from what I can see it won't hurt anything. (other than costing extra time to check the balance and make the payment, and having on average a little less $ in checking account). Depending on when the bank reports to the credit bureau, and when the OP pays, the OP might normally have 2, 3, 4, 5, or 6 weeks worth of purchases. (worst case is they report the day before OP pays, and therefore it's all of the previous bill's purchases, plus 2 weeks worth of purchases since then.) If instead the OP checks the balance weekly, and pays weekly, the largest the balance can be is just over 1 week's worth of purchases (1 week plus whatever time it takes to get the payment there). In the past, I know that some banks will tell you when they report - so you could pay just a few days before they send their data to the bureaus.

This is like running through raindrops hoping you won't get wet. Why doesn't the OP just stop using credit for two cycles? Easy peasy.
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