05-05-2009 06:15 PM
I was approved for a BofA credit card in April. It started reporting on credit reports within 2 days. I called today to see when my due date was and I was told that my statement date is May 20th and my due date is June 9th. I also asked the rep if I paid off my balance ($50) BEFORE the statement date, will they report a zero balance...she told me that they report the average usage of the card quarterly and not the amount at the end of the statement...
Does this make sense to anyone, because I am completely confused!
05-05-2009 06:19 PM
05-05-2009 06:24 PM
What the rep told me made no sense to me! I kept asking her "Are you sure"? "None of my other cards report that way" and she just kept saying the same thing! I think she gave me headache! I kept thinking...how can I keep my utilization % down if they keep reporting my average usage!
05-05-2009 06:26 PM
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.