Re: High Balance vs. Reported Balances
10-08-2012 09:00 AM
not sure I totally understand the question, but I'll try to answer.
If you use up 100% of your credit limit and then make a payment for 90% of what the new balance is (lets say its the day it posts) you'll be back down to 10%.
If this all happens before the statment cuts and info is sent to the credit reporting agencies then all will show up on your credit report your utilization of 10%. It won't show that you used 100% of your credit limit for like 3 days.
The high balance on your credit reports just shows what the highest balance you ever had reported on your credit reports.
I've messed around with it for a couple months I would make sure no matter what I had exactly 9% balance reporting. for 2 months once I got the card up to 9% I SD it for the rest of the month and paid it off as soon as the statement cut. Then for 2 months I used up 100% of my measly 300 CL (i'm paying for a cruise so I made a 300 payment) paid off all but 9% as soon as it cut and then paid off the balance the day after the statement cut. Both times my "highest balance" never once went up to $300. I've since just started using as much or as little of that 300 as I wanted and just make sure I pay off the balance before the statment cuts.
Current: Eq- 624 Ex - 631 (lender pulled) TU - 661 (lender pulled)
Goal 700+ across all three