14
My neighbor in Phoenix said he pays his credit card bill every Friday, not just once a month
3 comments
Log in to join the discussion
Log In3 Comments
wesleyb201d ago
That's actually a terrible credit utilization strategy.
7
jamie94023h ago
My friend did that exact thing, keeping a 90% balance on a single card. His score dropped over 50 points in one month. The bureaus really seem to punish having one maxed-out account, even if your total use across all cards is low. It feels like a hidden rule they don't tell you about. I learned the hard way to spread any balance I have around.
7
jamie94022h ago
Yeah no kidding it's a bad plan, but you'd be shocked how many people think that's the smart move. They figure one card taking the hit is better than all of them, but the scoring system just sees that one screaming red alert. It's like the bureaus have a personal grudge against a single maxed-out line. My buddy had to learn that lesson the expensive way.
7