Impact of short term balance transfer

[Anonymous]

Hi everyone!

I have the following cards:
Citi Doublecash - $3,000 limit, currently balance $0, with then payment due on 10/4
Capital One Venture - $5,000 limit, balance at $2.4k, payment due date on 9/15
And 2 others for a total cl of 10.5k

If I transfered the balance of the venture to the Doublecash, would my short term untilization go down until my Doublecash posts a new statement in Oct? I'm not able to pay the balance in full until the 3rd week of sept, and would pay it in full before Oct. I don't want to take the fico hit from the untilization, and would be willing to pay the balance transfer fee to do so. am I right in assuming my fico wouldn't report until Oct? Thanks

[Anonymous]

FICO scores update daily, but utilization changes are only reported when the statement closes. 

Statements usually close 2-3 days after the payment due date but this isn't always the case, you'll have to check the date on your previous stataments to get an exact date. I'd guess though that your Citi DC will close on the 6th or 7th of next month and if you're able to pay off the balance transfer amount by then, then your scores will not take a hit as you're hoping to accomplish. 

You should do the balance transfer ASAP though if you want this to work, they can take about a week to process and if it doesn't go through before your Cap1 statement closes, then you'll have to wait until next month's statement to report a lower balance.