CO reporting questions

[Anonymous]

Hello,

as as I am still fairly new to the forum, I was wondering if anyone could please help me with a few questions.

i have recently opened a CO platinum with a 300 CL. My first statement cut yesterday for a balance of 9.00, I have been primarily using it as a debit card and making multiple payments over the last few weeks to show CO I can use high limits and manage it responsibly, so that when I hit the luv button they will show me some love in a CLI.

my question is when should this report to the CRA's, and will it report my current balance or my statement balance? I am afraid to use it until I find out as my statement balance has a untilization ratio of 3%, but if I use it and the use a current balance then my UR will be higher, any thoughts or experiences from anyone else out there with CO?

also as it is my first statement, how long before it may report to the CRA'S ?

thanks everyone , this forum has been a life saver

[tufa4311]

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@Anonymous wrote:

Hello,

as as I am still fairly new to the forum, I was wondering if anyone could please help me with a few questions.

i have recently opened a CO platinum with a 300 CL. My first statement cut yesterday for a balance of 9.00, I have been primarily using it as a debit card and making multiple payments over the last few weeks to show CO I can use high limits and manage it responsibly, so that when I hit the luv button they will show me some love in a CLI.

my question is when should this report to the CRA's, and will it report my current balance or my statement balance? I am afraid to use it until I find out as my statement balance has a untilization ratio of 3%, but if I use it and the use a current balance then my UR will be higher, any thoughts or experiences from anyone else out there with CO?

also as it is my first statement, how long before it may report to the CRA'S ?

thanks everyone , this forum has been a life saver

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The balance reported will be the balance on your statement. Determine your statement cut date, either by asking or just looking at CK to see when it posts, then ensure your balance is whatever you want it to be prior to the statement cut. Since it is your first month and it won't be on CK then I say take the leap and ask when the first statement will be cut.

[Anonymous]

Thank you for the response, I actually had called them 3 days ago and was informed that it would be cut on the 25th of every month with my due date to be the 22nd. So based off what I am hearing they go by the statement date, which posted yesterday, so I can start reusing my card again without worrying if the current balance over the next few days will post instead of the statement balance? Is that correct?

[tufa4311]

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@Anonymous wrote:

Thank you for the response, I actually had called them 3 days ago and was informed that it would be cut on the 25th of every month with my due date to be the 22nd. So based off what I am hearing they go by the statement date, which posted yesterday, so I can start reusing my card again without worrying if the current balance over the next few days will post instead of the statement balance? Is that correct?

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That is correct, now that the statement date has passed, and your balance on the statement date is the one that will be reported to the CR's the next date to consider is the due date - if you prefer not to incur any interest pay the full  balance that shows on your statement prior to the due date.

[Anonymous]

Thank you I went only and say my first statement which reflected the 9.00 balance that I left to have my utilization ration at 3%, I also scheduled my first statement balance payment tomorrow, so now I am planning on doing the same thing all over again til the next statement cuts on 8/25.