Online Credit Report Three Bureaus
2010
Quick question regarding credit cards?
I recently just obtained my first credit card, and before i used it i decided to do some reading so i could see what factors are taken into consideration when my credit score is added up. There was one factor that just completely confused me and i was hoping someone could explain it to me. According to some online references- and a book i read- i read that even if you pay your balance in full every month, that balance can still show up on your credit report depending on when your balance was reported to one of the three bureau’s. My question is, what’s the point of even having a credit card if you pay off your balance in full and on time every month if it’s just going to lower your credit score regardless? It just doesn’t make sense that if you pay off your balance in full every month, that your balance from one month can still show up on your credit report.
It won’t lower your score an appreciable amount. Simply have owed amounts on your report is not necessarily a bad thing. Pay on time and you will be fine. Credit reports generally assume you have been granted credit and are making payments.
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