Help with CC Payment!

[Deleted User]

xlnc99 wrote: »

Ok so there is no way to have a 0 balance reported on a credit card every month unless u dont use it at all for that one month?

So what difference apart from the interest rate/charges does it make paying in full or half or min etc each month if there will still always be a balance showing on your credit report.

More confused now!

Why do you want a zero balance being reported?

They will report the statement balance and then the following month they will report the payment amount made against that statement balance.

If you're paying in full then this will balance it out and lenders will also see this, thus making any references to payments and utilisation null and void.

Sncjw

I would check your statement see when the payment date is due. You need to pay your money before this date

boo_star

Why are we still entering this troll?

xlnc99

so the best method seems to be paying min by DD and then full balance before statement due date to keep balance low for statement and reducing credit utilisation

Willing2Learn

I have had an Aqua card for the last seven years and never noticed that the 'payment due' date was not 56 days. I just assumed. Still, I never paid any late payment fees or interest as I have always paid in full.

[Deleted User]

The best method for you would be a full pay DD.

The way you try to manage your finances is too complicated for you to handle yet.

Willing2Learn

xlnc99 wrote: »

so the best method seems to be paying min by DD and then full balance before statement due date to keep balance low for statement and reducing credit utilisation

Deleted_User wrote: »

The best method for you would be a full pay DD.

The way you try to manage your finances is too complicated for you to handle yet.

I pay my Aqua statemented balance as described by xlnc99. Although, I have no regard for 'utilisation' as it always gets paid in full.

phillw

xlnc99 wrote: »

so the best method seems to be paying min by DD and then full balance before statement due date to keep balance low for statement and reducing credit utilisation

They see how much you pay each month, so if they see a low balance and a high payment every month then will be able to tell you are trying to game the system. Why do you want people to know that you will go out of your way to mislead them?

People who haven't got anything to hide just set the DD to pay in full.

xlnc99

phillw wrote: »

They see how much you pay each month, so if they see a low balance and a high payment every month then will be able to tell you are trying to game the system. Why do you want people to know that you will go out of your way to mislead them?

People who haven't got anything to hide just set the DD to pay in full.

Im sorry but i understand what you mean by trying to 'game the system'.

I am just trying to work out the best method to pay the balance in full each month so it looks best on my credit file. I appreciate that DD in full each month as others said is the easiest way. But to get my credit utilisation down on my credit report i was thinking pay min amount on DD then 48 hours before the statement pay in full so balance will be showing 0 or very little on my files each month

Its not a way of beating any system just trying to make my CC utilisation as low as possible and improve my credit file. I have read on here alot of people do it this way, including willingto learn who just mentioned it himself

Willing2Learn

xlnc99 wrote: »

I appreciate that DD in full each month as others said is the easiest way. But to get my credit utilisation down on my credit report i was thinking pay min amount on DD then 48 hours before the statement pay in full so balance will be showing 0 or very little on my files each month

Its not a way of beating any system just trying to make my CC utilisation as low as possible and improve my credit file. I have read on here alot of people do it this way, including willingto learn who just mentioned it himself

Although I use the same method to clear my credit card balance, it has nothing to do with utilisation (because if you pay the full balance due, then utilisation is irrelevant). I just prefer to be pushing funds into an account, instead of the money being pulled (by DD).