Util before next statement....

[Anonymous]

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@UpInSmoke wrote:
OP, utilization is calculated once a month (per card). It doesn't matter what the balance is mid-month. The only balance that matters is the balance as if your statement date. The mid-month fluctuations in your score isn't because of utilization (assuming you are PIF each card like you say). Additionally, CK scores DO NOT matter in the least!!! No credit grantor is every going to tell you they pulled your FAKO from CK. I wouldn't worry about those fluctuations. They're irrelevant.

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I don't know that this is 100% accurate - seems that several lenders report on different days that are not the statement date. You can figure out when they report, and base your payments off of that, however.

[Kforce]

I have found 3 dates and balances that my Banks, and Credit Unions report to the Credit Bureau.

1. Statement Balance / Reported 1 to 3 day's after statement cuts.
2. Statement Balance / Reported at end of the month.
3. End of month Balance / Reported at end of month.

    (Regardless of when you statement cuts, or what balance is on your statement)

You need to experiment with each CC and see whether they report the statement balance, or snap-shot balance,

and when they report to Credit Bureau.

CK updates each week. checking CC-Util reported for each credit-card each week for a month+, across end of month, while keeping track of your statement reported balance and snap-shot end of month balances. You can learn both which balance reports and when it is reported. This will make it clear as to when to pay down each card.

[NRB525]

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@Anonymous wrote:
I understand how statements work. I understand how util works. I understand when my cards need to be paid. The question was about util reporting mid month for FAKOS...

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The mid-month balance is not used by any of these banks to report your FICO score. US Bank reports just after the first of each calendar month, but you don't have US Bank yet.

Your limits with Capital One and BofA are very low. Your main goal right now should be to just use the cards without going over the limit, pay on time, pay multiple times per month if you want to keep using the cards, and just not worry about what the utilization reports, either mid-month or at the statement.

The FICO score and utilization does not matter unless you are applying for a new card. And with Capital One, it is likely that as you show you are bumping your head on their low limit, they may give you a CLI to help you out.

After a time with Bank of America, you can ask for a CLI and they can do a HP to see about raising your limit. I'd wait a bit for BofA, but it is a possibility.

It is frustrating not to have the credit lines you would like, especially with really low limits like this. When it comes time to apply for another separate bank card, then look at the timing of when your statements come out, and pay down the balances to reduce utilization and have one card report a small balance, the other cards zero. After the app, then you are off to the races again with using these cards heavily and paying regularly.

Off to the marathon race that is

Good luck!

[Anonymous]

My balances are zero every time a statement cuts for all 3 cards. Very rarely I'll leave like $10. Guess I will just have to ignore the mid month util and continue PIF like I always have. Thanks guys and gals.

[NRB525]

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@Anonymous wrote:
My balances are zero every time a statement cuts for all 3 cards. Very rarely I'll leave like $10. Guess I will just have to ignore the mid month util and continue PIF like I always have. Thanks guys and gals.

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Ok, well that could be the reason your scores take a hit. All cards at zero, all cards, leads to a score drop.

Let one card report a balance on the statement, so that at any given day, the last statement on at least one card has a balance.

But my main suggestion is, with cards that have this low of a limit, "utilization management" is too difficult to try to do monthly. Apparently you are good at it, perhaps too good at it

[Kforce]

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@Anonymous wrote:
I understand how statements work. I understand how util works. I understand when my cards need to be paid. The question was about util reporting mid month for FAKOS...

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Both Fako and Fiko update all the time not just monthly. (Both can be differant mid month)

Util is reported monthly by each CC., however any day of the month you look at it,

the "Snap-Shot of Util" is a mix from the previous month and current months reported cards.

If card "A" reports on the 5th, card "B" the EoM, card "C" on the 12th.

On the 17th you have last months B and this months A&C

On the 1st you might have a 2 month old "B", last months "A"&"C"

It is a "snap-shot in time", It is possible to see data across 3 month if there is any delay in reporting,

or the checking dates are just right.

Your FICO and Fako change every day.

With low Cl your daily numbers will move more than someone with a larger CL,

It will get better with time.

[Kforce]

Changing all your statement dates to the "same day", would eliminate the

mid cycle score changing due to Util. This will also make micro-managing easyier.

[Anonymous]

I wish I could comprehend that. If I PIF I just don't see why it matters when my dates are. I'm also leaving Vegas after a 3 day ragefest so my brain doesn't work.

[Kforce]

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@Anonymous wrote:
I wish I could comprehend that. If I PIF I just don't see why it matters when my dates are. I'm also leaving Vegas after a 3 day ragefest so my brain doesn't work.

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If you have been PIF for a long enough period that what is calculated at a given day shows as 0 for all cards, the

changes in score are from something else not util. I was just trying to show that util is a mix of time that can be greater than

a month, and has history from the previous month if viewed mid-month. (How long have you been PIF?)

In CK you can see the util that they are using for calculation. If they are all 0,

the issue is something else. Many things can change during a month and mid-month.