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

2 Comments

hall.finley15h ago

Ever had a credit limit increase request backfire and actually hurt your score in the short term?

jakem9821h ago

That's a smart move, paying down the balance before the statement even cuts. It's all about that credit utilization number they report. Have you thought about just asking for a credit limit increase instead? If they double your limit, your normal spending would be a much smaller percentage, and you might not need the weekly payments. Would that work with your card issuer?

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