ACH Payment/Utilization Time Frame

[j615]

Let's say I wanted to app for a new Chase card (we'll say Freedom for example), but first wanted to bring down my util on my current Chase card (we'll say CSP for example) down to zero before apping. The CSP currently has a balance of 10,000/20,000. I make a 10,000 payment online via ACH pull and notice it immediately resets my available balance to 20,000 even though the payment will show pending for 1-2 days. Can I now app right away for the Freedom with Chase factoring that my util is now zero with them? Or must I wait until the 10,000 payment goes from pending to posted in a couple days?

[Anonymous]

I'd wait until it posts personally.

[Loquat]

Your balance my be zero within your account but your credit report will still show the 50% utilization of your CSP until your account cycles and the new balance is reported.  SO if they pull your CR when you apply that may be a factor to take into consideration.  

[Anonymous]

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@Loquat wrote:

Your balance my be zero within your account but your credit report will still show the 50% utilization of your CSP until your account cycles and the new balance is reported.  SO if they pull your CR when you apply that may be a factor to take into consideration.  

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I was also going to mention this.

Additionally, the 50% utilization will be bringing down the OP's scores a bit.

short version: get that util down, wait for credit reports to reflect it, then app

[OmarGB9]

I would wait till the payment posts. Chase is good about mid cycle reporting, so even if your statement doesn't cut for a while, as soon as you pay down to zero, they'll report it to the bureaus and after a day or so your reports will reflect the zero balance. Only then would I apply. I'm about to do this myself and jump on a Hyatt card.