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[rots5]

In that case it was reported the CB that you did $0 in spending last month and you don't owe any money.

In general its best to have the statement close with a balance so its gets reported the CB. Then when you pay it, it gets marked as paid on time -( on the CB's books) which builds/establishes your credit. 

Without out, when applying for loans/cc's/mortgage in the future, lenders will have no way to determin that you are responsible and pay your bills.

but wont they see that money went thru my account and that i never had a balance or even a late fee?'
ok thanks for the advice though

[Saver2000]

The CB doesn't moniter your account on a daily basis.  They get updated once a month from the cc company.  That update usually takes place on tge statement closing day (or the day after) and reflects the statement balance.

If your statement balance is $0 or negative,  they will have no idea that you did any spending that month.

Your right that they will see that there aren't any late payments,  but if you never had a payment due, then it doesn't mean anything, bec you couldn't have paid late even if you wantes to!

Not having a balance isn't good, and having too high of a balance isn't either good. Many suggest that a balance of 10% or less of your CL is what it should be at.

Your report wont have any negatives on it, but like I said, for future loans they will have nothing to look back at and base your creditworthyness on.

[AJK]

If your statement balance is $0 or negative,  they will have no idea that you did any spending that month.

Nor will they know if you did $100,000 in spending and paid it off in full one day AFTER the closing date as soon as the next reporting day comes, contrary to what your implying.

The outcome will be the same: in previous months your CR will show no late payments. Creditors will be unable to see whether or not you spent a lot of $ or no $ at all.

[Saver2000]

Nor will they know if you did $100,000 in spending and paid it off in full one day AFTER the closing date as soon as the next reporting day comes, contrary to what your implying.

I
I was replying to rots question.  Read his question and then read my response.

The outcome will be the same: in previous months your CR will show no late payments. Creditors will be unable to see whether or not you spent a lot of $ or no $ at all.

Incorrect.

[AJK]

By all means, you keep believing that.

[Saver2000]

By all means, you keep believing that.

Thanx for not making me argue it out with you. 

Just for rots sake,  I'll clarify what I posted above.

You credit shows the balance that was on your cc when it closed. If its $0 or a credit balance it will reflect $0.

If you pay your statement in full before it closes, you will not have any signs on your report of responsibility/(payment pattern) on your credit report.

Having no payment patterns on your credit report wont be a positive when taking out a loan/applying for a cc. 

I'm speaking from experience.

[AJK]

Having no payment patterns on your credit report wont be a positive when taking out a loan/applying for a cc. 

I'm speaking from experience.

You make sense (mostly) until the above.

You can speak from experience, but the fact is that CRAs don't show "payment patterns" in the manner you're suggesting. They only show one month's util %--the latest--and that's it (aside, possibly, from a high balance).

[HelpMe]

Thanx for not making me argue it out with you. 

Just for rots sake,  I'll clarify what I posted above.

You credit shows the balance that was on your cc when it closed. If its $0 or a credit balance it will reflect $0.

If you pay your statement in full before it closes, you will not have any signs on your report of responsibility/(payment pattern) on your credit report.

Having no payment patterns on your credit report wont be a positive when taking out a loan/applying for a cc. 

I'm speaking from experience.

Are you sure. From my EX report on a 12k CL.

The following data will appear in the following format:
account balance / date payment received / scheduled payment amount / actual amount paid
Jan 2012: $0 / January 22, 2012 / $10 / $112,900

[rots5]

Thanx for not making me argue it out with you. 

Just for rots sake,  I'll clarify what I posted above.

You credit shows the balance that was on your cc when it closed. If its $0 or a credit balance it will reflect $0.

If you pay your statement in full before it closes, you will not have any signs on your report of responsibility/(payment pattern) on your credit report.

Having no payment patterns on your credit report wont be a positive when taking out a loan/applying for a cc. 

I'm speaking from experience.

guys its the 9 days, im sorry im causing this lol

but thank you, i understand the logic in it all, BUT.... why then on my 5th cc in a yr is my CL so flippin high....

i went from 2k to a heck of a lot more on a student living...plus everytime i speak to chase i tell them, look you see i do a tremendous amount of spending and never had a late fee, and they always say, yes mr. rots we hate  costumers like u ... (i have gotten this comment a couple of times...of course as a complete joke)

[sruly101]

The CB doesn't moniter your account on a daily basis.  They get updated once a month from the cc company.  That update usually takes place on tge statement closing day (or the day after) and reflects the statement balance.

If your statement balance is $0 or negative,  they will have no idea that you did any spending that month.

Your right that they will see that there aren't any late payments,  but if you never had a payment due, then it doesn't mean anything, bec you couldn't have paid late even if you wantes to!

Not having a balance isn't good, and having too high of a balance isn't either good. Many suggest that a balance of 10% or less of your CL is what it should be at.

Your report wont have any negatives on it, but like I said, for future loans they will have nothing to look back at and base your creditworthyness on.

thanks for this info!! is it a diffrents if my statement closes with $1 or with more, when i pay it in time?

if its more then  just $1, will it be better for my credit or the same??? (hope u understand what im asking)

[Saver2000]

You make sense (mostly) until the above.

You can speak from experience, but the fact is that CRAs don't show "payment patterns" in the manner you're suggesting. They only show one month's util %--the latest--and that's it (aside, possibly, from a high balance).

 

Not sure what you mean by that. My CR shows more that just one month of history.

My experience is with a family member that applied for a chase card last week. When calling recon, they said that they cannot approve her bec even though she has two store cards, there is no sign of useage/payment.

The cardholder has used the card many times and always paid it off within a day or two of using it.

[Lou Bob]

thanks for this info!! is it a diffrents if my statement closes with $1 or with more, when i pay it in time?

if its more then  just $1, will it be better for my credit or the same??? (hope u understand what im asking)

I always got the impression from around here that its good to let it close with 5-9 percent of the CL as opposed to above OR below that.

[Mimi K.]

You make sense (mostly) until the above.

You can speak from experience, but the fact is that CRAs don't show "payment patterns" in the manner you're suggesting. They only show one month's util %--the latest--and that's it (aside, possibly, from a high balance).

-1
many times they do

[sruly101]

I always got the impression from around here that its good to let it close with 5-9 percent of the CL as opposed to above OR below that.

thanks

[AJK]

Not sure what you mean by that. My CR shows more that just one month of history.

My experience is with a family member that applied for a chase card last week. When calling recon, they said that they cannot approve her bec even though she has two store cards, there is no sign of useage/payment.

The cardholder has used the card many times and always paid it off within a day or two of using it.

History of on-time payments? Yes, of course. History of exact util %? Not available on a CR.

What CR are you talking about? Where did you get it from?

I have no idea how a Chase CSR would be able to see util % of a non-Chase card from, say, 6 months ago.

[Saver2000]

History of on-time payments? Yes, of course. History of exact util %? Not available on a CR.

What CR are you talking about? Where did you get it from?

I have no idea how a Chase CSR would be able to see util % of a non-Chase card from, say, 6 months ago.

Who said anything about utilization ratio?

[AJK]

<facepalm>

[meshugener]

And btw, they are able to see utilization ratio on non-chase accounts.
I see on my EX report the balance each closing statement, the available credit for the entie card history.

[AJK]

You see what your exact util % is for all of your cards from, say, six months ago?

Where did you get this EX report?

[meshugener]

On the EX report I get free from Ex every time a FI pulls my credit, I see the current available credit and if the limit was raised or lowered during the card's history, I see exactly what the limit was from month x year x to month x year x.