When to pay off my credit cards so it reflects on my credit score at the end of the month?

[vinogradov8]

At the end of the month (maybe next month) I will be financing a vehicle. I want to save as much on interest as possible so I want to do everything in my power to raise my credit score. I pay bills and spend everything through credit cards that I pay off every month, I actually pay them off several times throughout the month because I have the best rewards on my lower balance cards.

Anyways, when do I have to keep my utilization low so that it shows up as 1-5% on the credit report they pull? Are their credit reports updated daily (display the score the day of the pull)?

Thanks

[user5387]

The balances reported to the credit bureaus are typically those of the statement date each month.

If you want to control such balances, you typically need to pay before the statement date.  This is distinct from paying after the statement date and before the due date.

There may be a time lag between the statement date and an update on your report, and I would suggest pulling your reports to ensure that they have been updated.

[vinogradov8]

Credit Karma showed my utilization at 23% as of today. It's hard to keep utilization low when you have a 2.5k credit line while using credit cards for everything. 

[user5387]

Controlling reported balance means not using a particular CC for a few days before the statement date, or possibly overpaying in advance of future charges.

[vinogradov8]

I usually send payments as soon as I make them but i've noticed that it takes 3-4 days to post if you send from an outside source rather than 1 business day when you pay through the credit company portal (which limits you to paying only what you owe). 

[takeshi74]

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@vinogradov8 wrote:

Are their credit reports updated daily (display the score the day of the pull)? 

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Reports and scores are but your creditors don't post updates for your accounts to the CRA's on a daily basis.  It's probably too late for this month but you should have enough time to plan it our for next month.

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@vinogradov8 wrote:

Credit Karma showed my utilization at 23% as of today. It's hard to keep utilization low when you have a 2.5k credit line while using credit cards for everything. 

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@vinogradov8 wrote:

I usually send payments as soon as I make them but i've noticed that it takes 3-4 days to post if you send from an outside source rather than 1 business day when you pay through the credit company portal (which limits you to paying only what you owe). 

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You may need to pay some bills directly instead of running them through your cards until your desired utilization reports.  You may need to pay cards directly.  You have to decide whether the desired reported utilization or the rewards and pushing payments are the bigger priority.

[kroberts67]

Once I PIF by due date I dont use that card until statement cuts.  Its only a matter of a few days in most cases.  During that time I use a different card that has a statement cut at opposite time of the month.  I alternate this way to keep balances from reporting.

[PaBill]

My cards post the day after the statement closing date (I've asked).  If I want a zero balance to show, I PIF 2 work days before the statement date.  I just paid a card off on 1/30 and the account came up with a $0 balance on the statement date on 2/2.  It would have been reported to the CRBs onn 2/3...