@Anonymous wrote:
I have Discover CC. The billing Statement closing date is the 10th of each month, reports to the credit beaurus on the 10th and payment is due the 5th.
I am trying to keep my CC utilization rate less than 10%.
I want to understand the concept fully.
If I charge $200 worth of charges within the billing cycle but pay off $100 before the statement cuts does that mean it will only report $100 balance or the full $200?
Thanks!!
Discover will report the balance that's present on the date statement closes.
So, if you make payment before statement closes, you will reduce amount that's reported.
In a nutshell, yes $100.00
