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CC utl. ?

New Contributor

CC utl. ?

I have a cc through my CU, and it didn't start reporting to the cra's until recently (I'm thinking this could be because I didn't use it at all for like the first 8 months after it was activated.) Anyway, my utl. is way up, like 80% (only have 1000 cl), but anyway, I Really Really Really want to pay that down to help my credit score, but when my bill comes, it will only be for 600 bucks. Is it possible to pay 800, so that my 600 bill will be PIF and the remaining 200 balance that I would be billed for next month could be paid off as well. I wondered if anyone has ever done this before, if it worked. I'm asking because I sometimes over pay bills if I have alittle extra money so that my next months bill are less in case something happens and I don't have as much money next month as I do now, but sometimes (I think it was Sprint) instead of applying my overpayment to the next bill, they just issue me a check back for the difference. (I HATE sprint btw). So anyone with any input, Thanks in advance!!!!
8 REPLIES
Established Contributor

Re: CC utl. ?

to get the best score boost, pay that balance down to 1-9% Util.
New Contributor

Re: CC utl. ?

I know, my question is, could I pay 800 on my 600 bill? (Because my next bill will be for 600 but my total over charges are for 800, 200 I haven't been billed for yet.) You know, when you charge something after the statement is already sent, your utl is still goes up, but the bill is only for what was charged when the bill was sent. Does that make sense?
Established Contributor

Re: CC utl. ?

okay i think i understand a little better now.
 
My guess would be that if your balance is $800 when they receive your payment, they would have no problem applying that entire amount. But if it is $600 when they receive a check for $800, they might, not sure though, not apply the entire 800.
 
hope it helps, if not, i am sure somebody else here would shed some light on this.
Established Contributor

Re: CC utl. ?

yes you can over pay.  Never heard of CCs refunding over payment.  It'll just make your ending balance lower.
New Contributor

Re: CC utl. ?

Yes, That helps Irvin. Sorry of it was alittle unclear at first. I check my balance on the internet to make sure my balances match up, and I know my TOTAL balance is 800, but I viewed my statement online, and my bill is only for 600. So thanks everyone for your input. I'm going to pay the 800.
Established Contributor

Re: CC utl. ?

If you can pay in person may be better.  I have CC that I pay online that will not let me pay over the statement balance, when I owe more.  I don't understand why they do that but some do. Either way the payment will do alot to boost your scores.  Also if that is your only card you may want to consider adding another will give better util % and will also help your scores longer term. Good Luck!
9/18/08 TU=707 EQ=706 EX=702
New Contributor

Re: CC utl. ?

Unfortunetly, I can only send in a payment. So I think I'm still just going to try my luck on that. As far as more credit, I should be receiving my BoA 99/500 soon, after a few months of good standing with them and as soon as I hear back from all the GWs I sent out, and my one PFD, I am going for the Amex Delta sky so I can convert to Blue, thats my ultimate goal...The Amex Blue. So thanks again for all your help.
Highlighted
Frequent Contributor

Re: CC utl. ?

Yes, I do it all the time. If my statement reads x amount of dollars and I KNOW the balance is more because I spent.... I send the money. Send the money