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Discover Card use etiquette?

Regular Contributor

Discover Card use etiquette?

Charged $ 840.00 this month, payed off $770.00 split in tow payments. Cut date was 11/25 with the balance being $70.00 which was paid in full.

This is my second month of card ownership, however no statement actually showed on account until today.(should report to CRAS I'm thinking).

 

My question is, when should I start using the card again? Some on our forum say right away, while others say three business days after statement cuts.

 

Please advise! Thanks for your time!


12/28 EX 745( FAKO)
12/28 DCU 742 FICO
12/28 WM TU 796 FICO
Walmart Discover 15k |CSP 14.4k | Penfed Cash Rewards 9k |DCU 7.5k | Chase Freedom 8k | FNFG 5k | Discover 6.4k| BOA 4k | BCE 3k


7 REPLIES
Established Contributor

Re: Discover Card use etiquette?


jagshere wrote:

Charged $ 840.00 this month, payed off $770.00 split in tow payments. Cut date was 11/25 with the balance being $70.00 which was paid in full.

This is my second month of card ownership, however no statement actually showed on account until today.(should report to CRAS I'm thinking).

 

My question is, when should I start using the card again? Some on our forum say right away, while others say three business days after statement cuts.

 

Please advise! Thanks for your time!


What? Smiley Indifferent Just you use it as you need it. There is no etiquette to using a credit/charge card that I'm aware of. Or perhaps you have particular issues with your CC issuer? If not, use it as you see fit.

 

AmEx Platinum | AmEx BCP | AmEx Delta Gold | CSP | Chase Freedom | NFCU cashRewards Visa Sig | NFCU Plat MC | WM MC | Discover it | JCP


Valued Contributor

Re: Discover Card use etiquette?

+1 with above post

You on this forum too often. Lmao..........


Starting Score: 560
Current Score: 748 Wishlist: CSP, Simply Cash, SPG, BOLD, INK, United MP,
Goal Score: 800


Walmart: 10k |Usaa: 8k|BCE: 13k| Amex: NSPL|Dis: 9.4k|Cap: 5.5k|CAP: 2k|CSP: 13.4k| Pen:4.5k

Regular Contributor

Re: Discover Card use etiquette?


adavis425 wrote:

jagshere wrote:

Charged $ 840.00 this month, payed off $770.00 split in tow payments. Cut date was 11/25 with the balance being $70.00 which was paid in full.

This is my second month of card ownership, however no statement actually showed on account until today.(should report to CRAS I'm thinking).

 

My question is, when should I start using the card again? Some on our forum say right away, while others say three business days after statement cuts.

 

Please advise! Thanks for your time!


What? Smiley Indifferent Just you use it as you need it. There is no etiquette to using a credit/charge card that I'm aware of. Or perhaps you have particular issues with your CC issuer? If not, use it as you see fit.

 


LOL! Thanks for the reply! Im trying to keep utilization low and NOT have new purchases report erroneously and cause reporting issues!

 


12/28 EX 745( FAKO)
12/28 DCU 742 FICO
12/28 WM TU 796 FICO
Walmart Discover 15k |CSP 14.4k | Penfed Cash Rewards 9k |DCU 7.5k | Chase Freedom 8k | FNFG 5k | Discover 6.4k| BOA 4k | BCE 3k


Senior Contributor

Re: Discover Card use etiquette?

Once the statement cuts, that's it.  That's what they report.*  I think people have advised paying a few days before your statement cuts so as to give the payment enough time to clear, and then not to use the card during that period before statement closes if you are concerned that additional charges will post and effect your utilization.  Then, in a game of internet telephone, this practice of not using the card a few days before the statement closes, has probably gotten distorted in a few threads to waiting 3 business days after the statement closes. 

 

*Of course, some issuers don't report statement balance.  This would not apply in those situations.  While I have seen some recent posts stating that Discovery is midcycle reporting, it seems that most of those instances are explained by the person changing their address, asking for a CLI, or taking some other action which triggers the midcycle report.  But I don't have a Discovery anymore, so I'm not sure how they report.


Starting Score: ~500 (12/01/2008)
Current Score: EQ 681 (04/05/13); TU 98 728 (01/06/12), TU 08? 760 (provided by Barclay 1/2/14), TU 04 728 (lender pull 01/12/12); EX 742 (lender pull 01/12/12)
Goal Score: 720


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Regular Contributor

Re: Discover Card use etiquette?


Walt_K wrote:

Once the statement cuts, that's it.  That's what they report.*  I think people have advised paying a few days before your statement cuts so as to give the payment enough time to clear, and then not to use the card during that period before statement closes if you are concerned that additional charges will post and effect your utilization.  Then, in a game of internet telephone, this practice of not using the card a few days before the statement closes, has probably gotten distorted in a few threads to waiting 3 business days after the statement closes. 

 

*Of course, some issuers don't report statement balance.  This would not apply in those situations.  While I have seen some recent posts stating that Discovery is midcycle reporting, it seems that most of those instances are explained by the person changing their address, asking for a CLI, or taking some other action which triggers the midcycle report.  But I don't have a Discovery anymore, so I'm not sure how they report.


Thanks for the reply Walt_K, this has been a long uphill journey to come back to credit worthiness, and I truly don't want any unnecessary bumps in the road. I appreciate it.

 


12/28 EX 745( FAKO)
12/28 DCU 742 FICO
12/28 WM TU 796 FICO
Walmart Discover 15k |CSP 14.4k | Penfed Cash Rewards 9k |DCU 7.5k | Chase Freedom 8k | FNFG 5k | Discover 6.4k| BOA 4k | BCE 3k


Established Contributor

Re: Discover Card use etiquette?

even if a higher amount appears on your credit reports it'll be down next month anyways, unless your about to make a large purchase for a house or car don't worry about it as long as your on time with your payments. use it whenever you want. if your buying a car or house soon keep your balances at 0-2% at all times and use charge cards if you have it instead.


total credit limits $108,400 Credit scores Ex 728 EQ 738 TU 758
Regular Contributor

Re: Discover Card use etiquette?


distantarray wrote:

even if a higher amount appears on your credit reports it'll be down next month anyways, unless your about to make a large purchase for a house or car don't worry about it as long as your on time with your payments. use it whenever you want. if your buying a car or house soon keep your balances at 0-2% at all times and use charge cards if you have it instead.


Thanks Dis... Better to ask than to make a mistake...

 


12/28 EX 745( FAKO)
12/28 DCU 742 FICO
12/28 WM TU 796 FICO
Walmart Discover 15k |CSP 14.4k | Penfed Cash Rewards 9k |DCU 7.5k | Chase Freedom 8k | FNFG 5k | Discover 6.4k| BOA 4k | BCE 3k