c/credit-score-help

A guy at the bank told me something about credit cards that actually made sense

I was at the Wells Fargo on Main Street last Friday trying to figure out why my score dropped 12 points. The banker, this older guy named Ray, looked at my report and pointed out one card was at 89% of its limit. He said, 'Look, even if you pay it off every month, that high balance gets reported and hurts you. Try paying it down before the statement closes, not after.' I'd always just paid the bill when it came. Has anyone else tried this trick of paying early to keep the reported balance low? Did it help your score?

1 comments

kelly.parker•12h ago

My credit card payment strategy changed completely after a 30 point drop

I used to pay my card once a month, right before the due date, thinking that was smart. My score was stuck around 720 for years. Then last November, I checked and it had dropped to 690 because my reported balance was over 50% of my limit. Now I make small payments every Friday, so my statement balance is under 10%. My score is back up to 735 after four months. It's a hassle but it clearly works. Does anyone else micromanage their payments like this, or is there a better way?

2 comments

wrenk91•1d ago

I thought paying off a card early was pointless, but my FICO jumped 40 points

I always paid my Capital One card on the due date, thinking that was fine... but my score was stuck at 680. My friend in Phoenix said to pay it down right after the statement cuts, so I tried it last month. My reported balance went from $900 to $50 and my score is now 720. Has anyone else seen a big jump just from changing the timing of a payment?

2 comments

janaw11•1d ago

Question about a credit check at a car dealership that tanked my score

Honestly, I was at a Ford dealership in Austin trying to get a loan for a used truck. The sales guy said they needed to run my credit to see my options, which I thought was fine. Tbh, I didn't know they'd pull from like 5 different banks, so I got 5 hard inquiries on my report that same day. My score dropped 28 points right before I was trying to apply for a mortgage. Some people say you should always shop around for rates, but others say you need to tell them to only use one credit pull. What's the right move when you're at a dealership so this doesn't happen?

2 comments

hannah240•3d ago

Co-signed for a relative's car? Check your report now.

I did this years ago and just found out their missed payments are on my record. It's dragging down my score and I had no idea.

2 comments

angelab76•4d ago

Freelancing made my credit score drop suddenly

I didn't plan for the income changes. How do you keep your score stable with irregular pay?

2 comments

rowan109•4d ago

Shoutout to my credit union for helping with a credit report error

I finally got a mistake removed from my credit file. It took forever and was so annoying. I had to call the credit bureaus multiple times. They each told me to contact someone else. I mailed in documents twice because they said they never got them. After months, it was fixed and my score went up. I'm relieved but the whole thing should be easier.

2 comments

matthew_stone•9d ago

Overheard a conversation at the diner that flipped my thinking on credit checks

Always shrugged off those soft inquiries as no big deal. The cook here got denied a side gig because of one, so I'm way more careful now.

3 comments

clairefisher•9d ago

Broker recommendations that don't immediately pull credit?

I want to shop around for mortgage rates, but I don't want a bunch of hard inquiries on my credit report right now. Are there any good brokers who can give accurate quotes without a hard pull?

2 comments