35 Point Jump!!!

[Anonymous]

I am confused.  Does this mean that if you pay your min payment or if you pay in full before the due date that it will have less of an impact on your score?

[Anonymous]

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ZANIDEE wrote:

I am confused.  Does this mean that if you pay your min payment or if you pay in full before the due date that it will have less of an impact on your score?

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I'm not sure what you are asking.

I'll attempt to answer though.

If you pay your CC before they report each month and it keeps your utilization to less than 9%, but more than 0%, then yes the CC utilization will not bring your scores down, like it would if you only paid a min payment and your cards reported a large balance and took your utilization percentage to 50%.

[Anonymous]

How do I know when they report each month?  Is it the payment due date?

[Anonymous]

Do some searching for "CC name + reporting date" and you might turn something up.

[haulingthescoreup]

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ZANIDEE wrote:
How do I know when they report each month?  Is it the payment due date?

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As llecs sidewinder said, do a search. But no, it's not the due date. It's generally the statement date --the date the statement shows up on your screen, or the date typed on your printed/ mailed statement.

The exceptions to the statement date are generally American Express, HSBC/ Orchard bank cards (not store cards), and US Bank, although there could well be others.


eta: wow, this has been a looooong day... Thanks, llecs!

Message Edited by haulingthescoreup on 05-09-2009 09:54 PM

[llecs]

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haulingthescoreup wrote:

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ZANIDEE wrote:
How do I know when they report each month?  Is it the payment due date?

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As llecs said, do a search.

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If you want to give me credit, then I'm OK with that. Though I think it was Sidewinder who suggested that.

[BungalowMo]

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@Anonymous wrote:
How do I know when they report each month?  Is it the payment due date?

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What I did is through the Credit Check Total site I was getting daily reports when I went to their site.  Through those daily reports I could see when suddenly a tradeline was updated with a payment.  TU usually updates first, then the others follow suit.  I wrote those reporting dates on the envelopes I keep my bill stubs in.  That way I easily know when they will be reporting.

[Anonymous]

Thanks for the info.  I will keep on eye out & see if I can track when they update payments on my reports.

[USSVOYAGER]

Congrats!!! That does give a good feeling indeed. Last year September when my realtor checked my FICO score was in the mid 500s because I was carrying such leavy loads on my credit. At the end of December I paid off all of my debt except my car loan and kept my credit clean. Occasionally I would use my card for a small purchase (reccomended no more than 7% of your limit).

Last week my FICO score was 721!!!!!!

Amazing huh

Cheers all

Patrick

[Anonymous]

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BungalowMo wrote:

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@Anonymous wrote:
How do I know when they report each month?  Is it the payment due date?

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What I did is through the Credit Check Total site I was getting daily reports when I went to their site.  Through those daily reports I could see when suddenly a tradeline was updated with a payment.  TU usually updates first, then the others follow suit.  I wrote those reporting dates on the envelopes I keep my bill stubs in.  That way I easily know when they will be reporting.

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You know when the CRA updated, but not when the creditor reported, unless it gives you reported on date, like TC does.