@Anonymous wrote:
What accounts factor in to your utilization score portion? Is it all accounts or just your revolving accounts? If I pay my card in full every month before the due date, how can i be assured they are reporting a 0 balance? Do cards all report a certain day of the month, and if so what if my due date is after that date?
Utilization of installment loans is factored but it's effect is minimal. Revolving utilization is the key factor. It is 30% of your total score.
I've answered part of your question in the thread you started in Rebuilding Your Credit but I'll put it here also.
Balances are reported on your monthly statement. So you need to know that date to detemine how much utilization to have report each month. For example my Cap 1 card posts a statement on the 12th or 13th of every month, Discover always on the 13th, BoA on the 13th or 14th, Citi on the 7th.
You can call the CC issuer and ask when the statement will post each month or wait until you get the first one. Just remember to pay any balance before the due date to avoid any finance charges.
How do you know for sure the payment has posted correctly? I check all my accounts every day to make sure everything is correct.
From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772
You can do the same thing with hard work
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