Paying off credit card

[Anonymous]

Is it better to pay off the card before the statement closes, or after the statement posts?

[Anonymous]

Depends on how you want it to report. When is it reported? Is it maxed out? What's your utilization? Do you have other cards that will report also?

[tonyjones]

Before the statement closes, because when it closes that's when they report it to all three CRA.

[Anonymous]

Discover 700
Amex BCE 6500
Chase Freedom 2300
Chase Sapphire Preferred 5400

My utilization is always under 20%. Currently I have $350 on the freedom card.

[Anonymous]

---

@tonyjones wrote:

Before the statement closes, because when it closes that's when they report it to all three CRA.

---

Unless it's US Bank, who reports at the end of the month.

[takeshi74]

What are you specifically trying to accomplish?  "Better" doesn't really mean anything without clarification.  If you need to adjust the reported balance/utilization for a period then you need to reduce or pay off the balance prior to the report date whether it's the statement date or another date that the account reports.

I don't pay prior to report date but my utilization naturally falls under 10% with my limits and spend and I'm fine with my scores even with the number of balances reporting.  I personally find it "better" to not worry about it.  YMMV.  Don't assume that your notion of better is univeral no matter what the topic.  Always clearly indicate what you mean when you use the word.

[Anonymous]

Univeral? You mean "Universal". Thank you and God Bless Takeshi74. If you're going to be snarky.......spell check.

[tufa4311]

The point @Takeshi74 was trying to make, albeit in a somewhat immature and unhelpful way, was it really depends on what your goals are. If you want your balances to report as zero then fully pay them off before the card does its monthly report (confirm with them when that is to be sure). However, if you want a balance to be reported, and most agree that you should have one of your cards reporting between 1-9% utilization every month, then you should not pay off your balance until after it reports (as long as that balance is not greater than 9% util).

If you'd like more detailed suggestions specific to your situation please note what your personal goals are - do you want to apply for more credit? Do you want to apply for a mortgage, get a loan, pay off a loan, simply increase your credit score, increase your available credit, etc. Once you provide your specifics and your goals the community can get a better understanding of where you are and where you want to go and thus make better suggestions for you.

Good luck!