cancel
Showing results for 
Search instead for 
Did you mean: 

Pay off CC balance In Middle of Month....

Andy77
Valued Contributor

Pay off CC balance In Middle of Month....

 

I have a NFCU card and a few times I have paid off the balance in full in the middle of the month, kept using the card and when the statement closed it reported a balance. I was not charged interest because I did pay the balance in full.

 

Question...

 

Does the computer recognize that I paid the balance in full, even though there is a balance reporting to the credit bureau ?

 

 

Message 1 of 4
3 REPLIES 3
HeavenOhio
Community Leader
Senior Contributor

Re: Pay off CC balance In Middle of Month....

For the purposes of utilization on your credit report, the only thing that matters is the balance that reports. It doesn''t matter how you got there, and your score doesn't care if you've paid in full or if you're paying interest.

 

Some banks report payment information, and credit reports are able to reflect that. That gives lenders a look at your payment habits. However, no current FICO score takes this information into account.

Message 2 of 4
rostrow416
Frequent Contributor

Re: Pay off CC balance In Middle of Month....

You don't have to pay the statement amount due until the due date - no interest accrues.  On the day the account reports to the credit bureaus, it reports the current balance that is on the account as of that day.

Amex Gold | Purdue FCU $20,000 | TFCU Plat Visa $12,500 | PenFed Platinum Rewards $10,000 | Synchrony Premier MC $10,000 | SG Visa $10,000 | NFCU MoreRewards $7,000 | NFCU cashRewards $14,000 | Discover IT $3,000 | Capital One BuyPower $850

B&H Payboo Card $15,000 | Amazon Prime Card $10,000 | PC Richard Card $10,000 | Target RedCard $2,000 | Walmart Store Card $1,400 | Shell Gas Card $1,200 | Overstock Store Card $3,850 | Kohl's Store Card $2,500


Spring Cleaning:
C̶a̶p̶i̶t̶a̶l̶ ̶O̶n̶e̶ ̶Q̶u̶i̶c̶k̶S̶i̶l̶v̶e̶r̶ ̶$̶1̶,̶0̶0̶0̶ | C̶r̶e̶d̶i̶t̶ ̶O̶n̶e̶ ̶V̶i̶s̶a̶ ̶$̶1̶,̶2̶0̶0̶ | M̶e̶r̶r̶i̶c̶k̶ ̶B̶a̶n̶k̶ ̶$̶2̶,̶7̶0̶0̶ | M̶a̶r̶v̶e̶l̶ ̶M̶a̶s̶t̶e̶r̶c̶a̶r̶d̶ ̶$̶1̶,̶̶2̶0̶0̶ | C̶o̶m̶e̶n̶i̶t̶y̶ ̶M̶a̶s̶t̶e̶r̶C̶a̶r̶d̶ ̶$̶1̶,̶1̶8̶0̶
Message 3 of 4
Swolehas
New Contributor

Re: Pay off CC balance In Middle of Month....


@HeavenOhio wrote:

For the purposes of utilization on your credit report, the only thing that matters is the balance that reports. It doesn''t matter how you got there, and your score doesn't care if you've paid in full or if you're paying interest.

 

Some banks report payment information, and credit reports are able to reflect that. That gives lenders a look at your payment habits. However, no current FICO score takes this information into account.


I've heard that US Bank uses the credit utilization on each card that was reported on the 1st of the month instead of statement balances.

Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.