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Sorry for hijacking your thread. I'm rather ignorant about how this stuff is reported and am just trying to figure things out. Just to clarify things for me, is this right?: If the billing period is 1/10 to 2/10 and I charge $500 during this period and the payment due date is 3/5 but I have charged an additional $100 between 2/10 and 3/5 then if I pay what my statement says ($500) it will be reported that I have a $100 balance (even though I don't carry a balance over from month to month). However, if I had gone online on 3/5 and seen the additional charges and paid the total $600, then it would be reported that I have a $0 balance?
So assuming I understand things correctly and this is how the OP is getting his 0$ balances on all but one card, is this the best way to do things?
@NikoD wrote:What does "after the statement date" mean? Do people think that if they pay even before they get the CC statement that that makes a difference? As long as you pay before the due date so nothing is rolling over into the next month, I thought it didn't matter if you pay it off the day you made the purchase or the day your CC payment is due. Or am I confused about what you guys are talking about here?
There is strong possiblity a balance have at some point been report in all those years. For example for my i have paperless statements so I receive emails when my statements are ready. If I receive a email and then go check the statement and it have a balance then that is the balance that is reported. my BofA statement cut and it had a balance of 5 dollars when I paid the 5$ the min I seen the statement even though my account updated the next day when I pulled my TU a few days after the balance that showed up under BofA was 5$. My cap1 167 was the statement balance 167 was reported etc.. I find that whatever the statement balnce is is the amount that will report to the CB the trick is the statement usually cuts a couple days are so after the due date atleast for me.
Thank you evil_ducky and everyone else. Everything is much clearer to me now. I feel better equipped now to keep my score up where it is.
@titanofold wrote:For score optimization you want all but one CC reporting $0. That final CC you want to report between 1% and 9% of its CL.
You may use the cards how you like, but you want to use them in lieu of using your check card or cash so you're able to PIF each month.
You only need to worry about optimization when you're going to apply for a new TL or if you're seeking a CLI. The FICO score has no memory of your utilization.
As long as you're paying as agreed or better than agreed, it will report as pays as agreed to the bureaus. The CCCs, however, only report when there's something to report. Typically they'll report monthly, but some won't report unless there's a change to the balance or the CL besides you making a payment.
+1...excellent answer...do this!