@jamesdwi
Yes, EX shows balance history- which is what I was referring to by highest balance reported.
Yes, EX shows balance history- which is what I was referring to by highest balance reported.
If it's your only card and want to generate a good score, you should make sure the balance on the 4th is $90 or less (=<9% of your $1000 CL).
Then any time between the 5th and 29th, pay off the full balance. I would just pay it soon after the 5th, but definitely not too close to the 29th, as you want to make sure your payment is received before the due date. Pay in full if you want to avoid paying interest. If you cannot pay in full, try to pay at least a little more than the minumum amount due, as apparently only paying minimums tends to make credit card companies nervous.
Somebody explained it here:
@megaman1 wrote:Thanks again everyone!! You guys are all so helpful!
Also, do you guys think it's strategic to have utilization close to 9% then utilize it less and less as time goes on? Or should I keep my utilization relatively similar each month? Or does it really not matter as long as it's within the 1%-9% range?
Seriously, read the link I posted above.
You're over thinking it. And what is correct procedure when you are about to apply for more credit (new credit card, or credit limit increase, or a loan, etc) is different from what you should normally be doing.
The balance on your statement is whatever the current balance on your card is when the statement cuts (in your case, on the 4th). If your statement comes out and says you owe $100 dollars and you keep using the card and then pay $100 dollars on the due date, then whatever unbilled balance from your transactions between the time you got the bill on the statement and the time when you paid the bill will be included on the next statement's balance owed. Plus any transactions between the time you paid the bill and when your statement cuts. What some people do, when trying to play the numbers, is to watch the current balance for your card online at the bank's website (this is much more up-to-date than the bill from the last statement which doesn't show recent transactions). Pay the entire current balance (or leave whatever small amount you decide to show usage on one card) by the due date and then stop using the card until the statement cuts.
EDIT: I just re-read your question and am not sure if my answer is what you were looking for. If you are asking about saving interest while in the grace period, it doesn't matter if you pay for transactions from the last bill right after the statement cuts or wait until the day they are due. If you are paying in full, you are always in the grace period so you don't get charged interest, no matter when you pay, as long as its paid by the due date listed on the statement.
EX:694 TU:744 EQ:777