Questions on utilization and credit scoring

[taxi818]

We'll discover is not true pre qualiify. As it will say same thing if you put Mickey Mouse in name field. If you say more about your scores I will let you know.

[takeshi74]

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@Anonymous wrote:

My understanding ( Guys please correct me if im wrong) for sample, my 1K CL I can charge as much as 800-900$ but before my due date and my report date I would paid it down to $1-$20 to keep my utilization below 9%.

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Yes but the due date doesn't really matter. The reporting date is what matters.  For cards that report on statement date the reporting date will always fall before the due date for the given cycle.  What confuses some is that cycles overlap so that the prior cycle's due date is usually just prior to the next cycle's statement date.

[mongstradamus]

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@takeshi74 wrote:

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@Anonymous wrote:

My understanding ( Guys please correct me if im wrong) for sample, my 1K CL I can charge as much as 800-900$ but before my due date and my report date I would paid it down to $1-$20 to keep my utilization below 9%.

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Yes but the due date doesn't really matter. The reporting date is what matters.  For cards that report on statement date the reporting date will always fall before the due date for the given cycle.  What confuses some is that cycles overlap so that the prior cycle's due date is usually just prior to the next cycle's statement date.

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I am an confused about utilization and scoring in general. My chase card just reported balance where utilization sent from 6 to 12% and my score actually increased so I don't really know if the 9% rule is still in effect 

[taxi818]

That is not true. My statement date is about 3 days after my due date. So you are right. But if your date is first. Pay then. And let statement cut.

[ACsteel]

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@takeshi74 wrote:

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@Anonymous wrote:

My understanding ( Guys please correct me if im wrong) for sample, my 1K CL I can charge as much as 800-900$ but before my due date and my report date I would paid it down to $1-$20 to keep my utilization below 9%.

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Yes but the due date doesn't really matter. The reporting date is what matters.  For cards that report on statement date the reporting date will always fall before the due date for the given cycle.  What confuses some is that cycles overlap so that the prior cycle's due date is usually just prior to the next cycle's statement date.

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You should never carry a balance unless you have to, why would you ever want to pay interest? The balance you create should be 1 - 9%, but you should always pay in full every month.