Util before next statement....

[Anonymous]

My limits are so low on my cards. So I always get close to maxing them all out each cycle. I even PIF a couple times before the statement cuts. However even though I am PIF my CK scores always drop because of my utilization. Hopefully they recover each time because I am always PIF before statement. Any way around these drops in scores every 7 days because of util, or am I kind of doomed until I can get these limits increased?

[UpInSmoke]

OP, utilization is calculated once a month (per card). It doesn't matter what the balance is mid-month. The only balance that matters is the balance as if your statement date. The mid-month fluctuations in your score isn't because of utilization (assuming you are PIF each card like you say). Additionally, CK scores DO NOT matter in the least!!! No credit grantor is every going to tell you they pulled your FAKO from CK. I wouldn't worry about those fluctuations. They're irrelevant.

[UpInSmoke]

If you are PIF every month, it doesn't really matter what your credit lines are. However, the higher the lines the less you need to worry about utilization should you not PIF every card every month. Hang in there! Be responsible with what you have and bigger lines are sure to follow.

[Anonymous]

I understand that but I will have to look at temporary drops in score every month even though I'm PIF? Guess that's my concern question. Sorry for the lack of clarity.

[Anonymous]

Changing all your due dates to be the same can help so you aren't paying cards every week.

For best scoring bring all balances to zero except for 1-9% util on one card before the statements cut.

[Anonymous]

I feel like no one is understanding my question......

[Anonymous]

Never mind thank you Fthomasjr that makes sense.

[HeavenOhio]

PIF (pay in full) means to pay the statement balance by the due date. That's a good thing to do.

Pay to zero means to pay before the statement cuts. That'll cause your lender to report a zero balance to the bureaus, and it'll improve your score. However, as WaveRider points out, FICO likes it when one card (a major bank card) reports a small statement balance. It'll ding you if all cards are zero.

It's pointed out above that generally, card companies report the statement balance right after the statement cuts. There are a couple of exceptions. I believe US Bank reports around the last or the first of the month, for instance. Also, Chase will report mid-cycle anytime you pay to zero. That's generally a good thing. But if you want a single card to report a balance, it's probably a good idea to do it with something other than a Chase card.

WaveRider makes a good point by suggesting that adjusting your due dates might help you out. As far as how you arrange your them, do what's best for you. WR suggests having them all happen at once, but I prefer staggered.

[Anonymous]

We understand, maybe you just aren't understanding our answers.

[Anonymous]

I understand how statements work. I understand how util works. I understand when my cards need to be paid. The question was about util reporting mid month for FAKOS...