Loading…
23
Everyone says pay every card down to zero each month, but that backfired on me
Last month I finally paid off my Capital One card down to $0 after carrying about $1,200 on it for two years. My score dropped 12 points in three weeks. I called the bank and the rep said it was because I let all my cards report a zero balance at the same time, so the scoring model had nothing to look at. Turns out you want one small balance to hit the statement, like $15 on gas, then pay the rest. Now I keep a $20 Netflix charge on one card on purpose. Has anyone else here seen their score dip after paying everything off at once?
1 comments
Log in to join the discussion
Log In1 Comment
michael_williams23d ago
Man, this is the same thing as when you finally get your desk totally clean at work and then nobody trusts you with anything because it looks like you have no work to do. Systems just hate seeing a blank slate, they want proof you're still in the game. Keeping that Netflix charge rolling is genius honestly.
7