No. of Recommendations: 1
I have been tracking my scores for over a year. All of the updates to my balances have matched up with statement balances. While the CCs could send in your account information to the CRAs at anytime they decide to, they appear to just want to do it when they process your statement.

Your score is maximized if you have a moderate balance. On the equifax site, there is a simulator that lets you play with paying off balances. Find out what range maximizes your score. For me, it is approximately between $500 and $1000. If I owe less than $500, my score goes down. Since they are going by the statement balance, I make an online payment a few days before the statement closing date to knock the balance down to around $500. I then pay the statement balance in full by the due date. I maximize my score and I don't have to pay interest charges.

Alan
Print the post  

Announcements

UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement