He folks, I'm in the process of repairing my credit and have a general question. I have a BOA secured credit card and am aware of the notion of not going over 10% of your credit line. I spoke to a bank representative today who said they report the "high balance" to the credit bureaus the day after the cycle closes. I've paid the entire balance on every statement so at the beginning of the next cycle my balance is always zero. My concern is if I were to go over 10% at some point during the cycle but made a payment before the cycle ended that brought the balance below 10%, would I still show up the credit bureaus as having eclipsed the "red line?" Thanks for your input.
The "high balance" will be whatever your highest balance is when BoA reports. Are they reporting a CL to your account? I'm also pretty sure it's month-to-month you want to keep your total utilization between 1% and 9% (since they round up so 9.4% = 10% and 10.1% = 11%). For instance... I got myself into trouble a few years back so on one of my accounts the high balance was $2610 and the CL was $2600.