Reply
Established Member
Posts: 13
Registered: ‎02-01-2010
0

Credit Card Utilization/Reporting Dates/Paid in Full ?s

Hi, I would guess this has been answered before, but through my searching I haven't hit on the right keywords.  I have 4 cards.  I only use them for the points and pay in full each month.  My Discover is the one I use the most.  I generally charge ~$1500 and pay it about 2 weeks be4 the bill would be due.  Would it be better for me to split my charges more between my cards?  My Ebay & ON I only use when a place doesn't take Discover, or occasionally when they have a good promo (use card 4 times get $20 gift certificate).  I would say I charge between $10 & $50 each month and again, pay in full.  My CC was only used for the dentist and it is empty.

 

If I pay in full and early is the utilization a big deal?  Should I split it up more b/t the 3 cards.  I just like the Discover rewards the best Smiley Happy  Currently my scores from a tri-pull mortgage pull are 702, 708, & 735 - the biggest reason for being lower is that I've only been using credit for ~2.5 years (before that I didn't use any credit for over 10 years).  I don't need to use cards at all.

 

For reference my credit lines:

Discover $3000

Ebay Mastercard $ 3600

Old Navy Visa $1800 

Care Credit $3000

 

Thanks! 

Highlighted
Super Contributor
Posts: 5,703
Registered: ‎10-06-2007
0

Re: Credit Card Utilization/Reporting Dates/Paid in Full ?s

Since you can PIF, I would experiment.  I would try a single card reporting a balance of 9% or less of its CL.  You can make an extra payment before the statement date if you charge more than 9% so only 9% reports.  I would than see what happens when you have a second card report.

 

For my credit profile, TU dosen't want any CC to report a balance and EQ likes 1.  Knowing the reporting date is key to control how much actually gets reported.  Since you can PIF, you are in control so just get the reporting dates and you'll be good to go. 

11/28/2014 FICO: EQ: 796 EX:788 TU:803
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. 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.