UTL Question

[Shockedimpy]

I'm sorta confused on UTL and the effects on my credit report....every time I use my card, and pay 85% of what I owe monthly, I always seem to get dinged via myfico. IE: your amount owed went up 800%..balance went up $160......yet when I pay off my card and havnt used it in a few weeks it doesn't report that...or does it take longer to report it? I can't seem to gain much points, yet if I use my card I seem to lose points.

I probably should pay in full each month then? I only carry a balance because I am constantly using the card and paying it off per usage. All very overwhelming

[Anonymous]

It depends on when your card reports.
When it reports you should have a low utilization.
Most recommend under 9 % for one revolving account. The others $0.
But reporting no balance will bring your credit score down.

Call you credit card rep and ask when the card reports each month.

With mine it's 5 days after my statement cuts.
If I try to pay when my statement cuts the credit card company doesn't process my payment before it reports.
So I make sure to pay my card right before the statement cuts so it will show my payment.

[Anonymous]

Are you relying on paper statements for making your payments?