I'm awful with the calendar and math (FICO UTL)

[Jungook]

So I'm pretty awful at figuring out when my FICO score will be updated and I just can't seem to do the math on the amount of days for the credit bureaus to update.

I currently have 67% UTL on my credit card and I plan on paying that down to 3% before my Discover IT card reports on the 2nd of each month (so May 2nd in this case). I am looking towards applying for new credit once my UTL is brought down but I just can't seem to figure out when I can. From what I've tried to understand, I'm going to have to wait till June to see my credit bueaus updated with my 3% UTL?

Any insight would be great. Thanks.

[user5387]

You need to pay down the balance, and then the updated balance needs to report to the bureaus.

If both these things are done by May 2, then a score calculated against a fresh report that is pulled after this date should show the effect of the lower utilization.

[gdale6]

If the Discover is your only CC you would pay all of it off but a few bucks a few days prior to the statement cut date and not use it till the day after the statement is cut. Discover will report within a few days of the statement and its usually reported to all CRAs within a week of them reporting. Your new util would most likely be on file by May 10.... You might want to consider becoming a member of a credit monitoring service that allows daily pulls then you can see the timing and get to know the approx times your balances actually appear at the CRAs, this is very useful as you obtain more cards, it helps in the management of your FICO scores..

[Jungook]

Ohhh my bad. I was thinking for some reason the FICO UTL was based on last month's balance rather than your current one cause I had a fairly high UTL at the end of one month and I thought no way could my score be this high so I thought it was judged on the last month's balance.

Silly me! I do wonder how high my score will be now since UTL is a big factor and it will be under 10%. 

Thank you everyone