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!
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? 
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.
Starting Score: 560
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?
LOL! Thanks for the reply! Im trying to keep utilization low and NOT have new purchases report erroneously and cause reporting issues!
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)
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.
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.
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...
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