New Accounts to PIF or not to PIF, that is my question!

[MJPEREZ77]

Just trying to get opinions regarding New Accounts. After recently completing an App Spree for DW, she now has 14 new accounts (Yes I know, I am watching for AA!). We always PIF with exceptions of 0% Special Financing Options on large Purchases. However, since these are all new accounts, that have yet to close on a statement period, my question is should we PIF even though there are no min payments due or should I allow those balances to report, then PIF before close of next billing cycle? Any and all experiences and opinions are appreciated.

 

Thanks

[archimaybe]

To maximize your FICO, let only one card report with a balance of a few dollars. Pay the rest in full before the statement cuts, so that a $0 balance reports.

Edited October 6, 2014 by archimaybe

[MJPEREZ77]

Thanks!

[Cappy]

Just trying to get opinions regarding New Accounts. After recently completing an App Spree for DW, she now has 14 new accounts (Yes I know, I am watching for AA!). We always PIF with exceptions of 0% Special Financing Options on large Purchases. However, since these are all new accounts, that have yet to close on a statement period, my question is should we PIF even though there are no min payments due or should I allow those balances to report, then PIF before close of next billing cycle? Any and all experiences and opinions are appreciated.

 

Thanks

 

From a FICO view, it's best to PIF before the statement date.

From a creditors view, it's all the same if you PIF before or after the statement cuts.

[moneypyts]

If you want your creditors to have confidence in your ability to pay, pay early and pay often.

 

With a new account, run up a charge, and immediately make a payment. That will also ensure that you have the payment system dialed in for your bill pay features on your checking account, or however else you make payments.

 

I also make a point of paying 3x the minimum payment right after a statement cuts with a balance. Like, if there's $5K on a zero interest program, and the minimum payment is $50, I always pay $150 within a few days of the statement. That way you won't look like you're short on cash if they ever review your files.

I have no idea how much this helps, or if it helps at all, but it certainly can't hurt, and it only takes a little bit of effort to pull it off.

FWIW, MP

[SecretAgentWoman]

[off topic]

 

Why, OP, do I have to read your posts in Times New Roman or some other sarif font instead of the default?

[breeze]

[off topic]

 

Why, OP, do I have to read your posts in Times New Roman or some other sarif font instead of the default?

 

 

Why ask this question in such a snarky manner?

 

Consider the possibility that the OP is using a high end mobile device that automatically formats his posts differently than a desktop or laptop, and phrase your question differently.

[SecretAgentWoman]

 

[off topic]

 

Why, OP, do I have to read your posts in Times New Roman or some other sarif font instead of the default?

 

 

Why ask this question in such a snarky manner?

 

Consider the possibility that the OP is using a high end mobile device that automatically formats his posts differently than a desktop or laptop, and phrase your question differently.

 

I don't recall being snarky. I was just curious. How would you phrase my question? Keep in mind, your post sounds 10x more rude than mine, so you may not be the best judge.

[shifter]

[TrevorHere]

 

 

[off topic]

 

Why, OP, do I have to read your posts in Times New Roman or some other sarif font instead of the default?

 

 

Why ask this question in such a snarky manner?

 

Consider the possibility that the OP is using a high end mobile device that automatically formats his posts differently than a desktop or laptop, and phrase your question differently.

 

I don't recall being snarky. I was just curious. How would you phrase my question? Keep in mind, your post sounds 10x more rude than mine, so you may not be the best judge.

 

Mom always knows best, so by default she is the best judge. And, I see nothing wrong with the font at all. Maybe the OP prefers the font and has it set as preferred. Looks fine to me.