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Utilization Question

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Valued Contributor

Re: Utilization Question

for me

 

US BANK reports end of each month

Discover on the 9th of each month

Penfed on the 6th of each month

Amex on the 20th of each month

"Garden Club Member " Old user name newportguy*** Current Score: myFico EQ - 830 (07/16/2015) Discover TU Fico - 833 (09/03/2016) EX Fico - 839 ( 09/01/2016 ) ******* Amex - BCP 11.5K * Discover - IT 43.5 K * U.S. Bank Cash + Visa Signature 15.3 K * PenFed - Cash Rewards 15K *PenFed Power Cash 19K ** Amex - GDSM 10K ******FICO 800 Club Member ******* EQ 830 *** TU 833 *** EX 839 ***
****** Last HP & New TL was March 6th 2014 *** GOAL: No HP's or New TL's for 2 + years and 840's Scores ******
Message 11 of 30
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Regular Contributor

Re: Utilization Question


@-Wade- wrote:

@LVKalani wrote:

Sorry again, I guess what I'm trying to get to, is a lender won't report a balance + whatevery activity is going on during the billing cycle...


you will need to know when each lender reports to the CB and PIF a few days before that


Okay, well that's a good point you make then, because my AMEX had a statement balance of $XXXX.XX, I paid $YYY.YY immediately thereafter, but they still reported $XXXX.XX a week later yet not $ZZZ.ZZ... Make sense...?

Message 12 of 30
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Valued Contributor

Re: Utilization Question


@LVKalani wrote:

@-Wade- wrote:

@LVKalani wrote:

Sorry again, I guess what I'm trying to get to, is a lender won't report a balance + whatevery activity is going on during the billing cycle...


you will need to know when each lender reports to the CB and PIF a few days before that


Okay, well that's a good point you make then, because my AMEX had a statement balance of $XXXX.XX, I paid $YYY.YY immediately thereafter, but they still reported $XXXX.XX a week later yet not $ZZZ.ZZ... Make sense...?


Login to Amex and  it will tell you when your statement will cut then PIF the day before so you will have a 0 bal report

"Garden Club Member " Old user name newportguy*** Current Score: myFico EQ - 830 (07/16/2015) Discover TU Fico - 833 (09/03/2016) EX Fico - 839 ( 09/01/2016 ) ******* Amex - BCP 11.5K * Discover - IT 43.5 K * U.S. Bank Cash + Visa Signature 15.3 K * PenFed - Cash Rewards 15K *PenFed Power Cash 19K ** Amex - GDSM 10K ******FICO 800 Club Member ******* EQ 830 *** TU 833 *** EX 839 ***
****** Last HP & New TL was March 6th 2014 *** GOAL: No HP's or New TL's for 2 + years and 840's Scores ******
Message 13 of 30
Highlighted
Regular Contributor

Re: Utilization Question


@-Wade- wrote:

@LVKalani wrote:

@-Wade- wrote:

@LVKalani wrote:

Sorry again, I guess what I'm trying to get to, is a lender won't report a balance + whatevery activity is going on during the billing cycle...


you will need to know when each lender reports to the CB and PIF a few days before that


Okay, well that's a good point you make then, because my AMEX had a statement balance of $XXXX.XX, I paid $YYY.YY immediately thereafter, but they still reported $XXXX.XX a week later yet not $ZZZ.ZZ... Make sense...?


Login to Amex and  it will tell you when your statement will cut then PIF the day before so you will have a 0 bal report


LOL, okay - please bear with me for a moment... I know some are more credit savvy than others and some of us are still learning here...

 

I understand the concept of paying PIF prior to a statement cut - I got that much... Some CC's you actually want to run a balance (such as I am hearing Discover...) However, I don't want to reflect a util that is too high... So I want to be clear that a util is based off of a balance after a statement is cut rather than a balance after a statement "+" any activity during the following billing cycle... 

Message 14 of 30
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Regular Contributor

Re: Utilization Question


@LVKalani wrote:

Hello Everyone!!! I have a question about utilization... Is utilization based on the balance after a statement has been cut or is it considered the activity before a statement is cut? I have been 4 months into all this and suddenly now doubting myself on what I've been thinking all this time Smiley Surprised - sorry if this sounds dumb...!?! Smiley Embarassed LOL!!! Thank You in advance with your replies!!! Smiley Happy


Okay, so I had to open up my resources a bit more, research further, and find opportunities for an educated answer... Didn't expect to experience a sense of impatience (completely surprised), so here goes to hopefully help all the others out there that may be seeking the same advice!!! YES, credit utilization (lenders combined) is based on what each lender reports to the CB(s)... What is reported by a lender to the CB(s) will be the most current statement balance (only) at the time it is indeed reported... If a payment has been made by the cc user after the their statement has been cut and before that lender reports to a CB, it will not be reflected!!! Also, once a statement has been cut and there is additional activity (charges) thereafter, it will not be reflected as well to what is reported to the CB(s) - of course, making payments prior to a statement cut will always determine what actual balance will be reported, etc... This information definitely helps whether you decide to and/or or need to leave a balance on a particular CC on abiding what the lenders preferences are for future app approvals, PC's, and/or CLI's (provided with everything else to include & not limited to - AAoA, Inq's, YMMV, etc., etc., etc...) with a particular lender!!! Thank You for your time & patience!!! Smiley Wink

Message 15 of 30
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Established Contributor

Re: Utilization Question


@LVKalani wrote:

@LVKalani wrote:

Hello Everyone!!! I have a question about utilization... Is utilization based on the balance after a statement has been cut or is it considered the activity before a statement is cut? I have been 4 months into all this and suddenly now doubting myself on what I've been thinking all this time Smiley Surprised - sorry if this sounds dumb...!?! Smiley Embarassed LOL!!! Thank You in advance with your replies!!! Smiley Happy


Okay, so I had to open up my resources a bit more, research further, and find opportunities for an educated answer... Didn't expect to experience a sense of impatience (completely surprised), so here goes to hopefully help all the others out there that may be seeking the same advice!!! YES, credit utilization (lenders combined) is based on what each lender reports to the CB(s)... What is reported by a lender to the CB(s) will be the most current statement balance (only) at the time it is indeed reported... If a payment has been made by the cc user after the their statement has been cut and before that lender reports to a CB, it will not be reflected!!! Also, once a statement has been cut and there is additional activity (charges) thereafter, it will not be reflected as well to what is reported to the CB(s) - of course, making payments prior to a statement cut will always determine what actual balance will be reported, etc... This information definitely helps whether you decide to and/or or need to leave a balance on a particular CC on abiding what the lenders preferences are for future app approvals, PC's, and/or CLI's with a particular lender!!! Thank You for your time & patience!!! Smiley Wink


Thanks for posting what you've learned....so let me ask based off what I'm hoping I'm understanding this as...

 

So for example, my Chase freedom statement cut on 8/4. The statement balance was $42.08. Throughout the time I got my card up until the statement cut I spent ~$500 but kept making payments every couple of days. Does this mean that Chase will report $42.08?

Message 16 of 30
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Regular Contributor

Re: Utilization Question


@AvadaKedavra wrote:

@LVKalani wrote:

@LVKalani wrote:

Hello Everyone!!! I have a question about utilization... Is utilization based on the balance after a statement has been cut or is it considered the activity before a statement is cut? I have been 4 months into all this and suddenly now doubting myself on what I've been thinking all this time Smiley Surprised - sorry if this sounds dumb...!?! Smiley Embarassed LOL!!! Thank You in advance with your replies!!! Smiley Happy


Okay, so I had to open up my resources a bit more, research further, and find opportunities for an educated answer... Didn't expect to experience a sense of impatience (completely surprised), so here goes to hopefully help all the others out there that may be seeking the same advice!!! YES, credit utilization (lenders combined) is based on what each lender reports to the CB(s)... What is reported by a lender to the CB(s) will be the most current statement balance (only) at the time it is indeed reported... If a payment has been made by the cc user after the their statement has been cut and before that lender reports to a CB, it will not be reflected!!! Also, once a statement has been cut and there is additional activity (charges) thereafter, it will not be reflected as well to what is reported to the CB(s) - of course, making payments prior to a statement cut will always determine what actual balance will be reported, etc... This information definitely helps whether you decide to and/or or need to leave a balance on a particular CC on abiding what the lenders preferences are for future app approvals, PC's, and/or CLI's with a particular lender!!! Thank You for your time & patience!!! Smiley Wink


Thanks for posting what you've learned....so let me ask based off what I'm hoping I'm understanding this as...

 

So for example, my Chase freedom statement cut on 8/4. The statement balance was $42.08. Throughout the time I got my card up until the statement cut I spent ~$500 but kept making payments every couple of days. Does this mean that Chase will report $42.08?


If I may, I'm going reiterate... Your balance was $42.08 as of your "last" statement, correct? Then you charged up to $500 since then but you have NOT receieved another statement from them as of today, correct? If Chase has not reported to the CB(s) yet but reports to them before the next statement, it will ONLY be $42.08 - AS FAR AS I UNDERSTAND IT... However, once the next statement cuts & it includes the $500.00 - it will then be reported to the CB(s) as $542.08 (or however they round it off)...

Message 17 of 30
Highlighted
Regular Contributor

Re: Utilization Question


@LVKalani wrote:

@AvadaKedavra wrote:

@LVKalani wrote:

@LVKalani wrote:

Hello Everyone!!! I have a question about utilization... Is utilization based on the balance after a statement has been cut or is it considered the activity before a statement is cut? I have been 4 months into all this and suddenly now doubting myself on what I've been thinking all this time Smiley Surprised - sorry if this sounds dumb...!?! Smiley Embarassed LOL!!! Thank You in advance with your replies!!! Smiley Happy


Okay, so I had to open up my resources a bit more, research further, and find opportunities for an educated answer... Didn't expect to experience a sense of impatience (completely surprised), so here goes to hopefully help all the others out there that may be seeking the same advice!!! YES, credit utilization (lenders combined) is based on what each lender reports to the CB(s)... What is reported by a lender to the CB(s) will be the most current statement balance (only) at the time it is indeed reported... If a payment has been made by the cc user after the their statement has been cut and before that lender reports to a CB, it will not be reflected!!! Also, once a statement has been cut and there is additional activity (charges) thereafter, it will not be reflected as well to what is reported to the CB(s) - of course, making payments prior to a statement cut will always determine what actual balance will be reported, etc... This information definitely helps whether you decide to and/or or need to leave a balance on a particular CC on abiding what the lenders preferences are for future app approvals, PC's, and/or CLI's with a particular lender!!! Thank You for your time & patience!!! Smiley Wink


Thanks for posting what you've learned....so let me ask based off what I'm hoping I'm understanding this as...

 

So for example, my Chase freedom statement cut on 8/4. The statement balance was $42.08. Throughout the time I got my card up until the statement cut I spent ~$500 but kept making payments every couple of days. Does this mean that Chase will report $42.08?


If I may, I'm going reiterate... Your balance was $42.08 as of your "last" statement, correct? Then you charged up to $500 since then but you have NOT receieved another statement from them as of today, correct? If Chase has not reported to the CB(s) yet but reports to them before the next statement, it will ONLY be $42.08 - AS FAR AS I UNDERSTAND IT... However, once the next statement cuts & it includes the $500.00 - it will then be reported to the CB(s) as $542.08 (or however they round it off)...


I just checked your siggy, your CL is $500 just like mine - how are you able to put $42.08 and then another $500 on your card?!? LOL!!! can I trade cards with you?!? LMAO!!!

Message 18 of 30
Highlighted
Established Contributor

Re: Utilization Question


@LVKalani wrote:

@AvadaKedavra wrote:

@LVKalani wrote:

@LVKalani wrote:

Hello Everyone!!! I have a question about utilization... Is utilization based on the balance after a statement has been cut or is it considered the activity before a statement is cut? I have been 4 months into all this and suddenly now doubting myself on what I've been thinking all this time Smiley Surprised - sorry if this sounds dumb...!?! Smiley Embarassed LOL!!! Thank You in advance with your replies!!! Smiley Happy


Okay, so I had to open up my resources a bit more, research further, and find opportunities for an educated answer... Didn't expect to experience a sense of impatience (completely surprised), so here goes to hopefully help all the others out there that may be seeking the same advice!!! YES, credit utilization (lenders combined) is based on what each lender reports to the CB(s)... What is reported by a lender to the CB(s) will be the most current statement balance (only) at the time it is indeed reported... If a payment has been made by the cc user after the their statement has been cut and before that lender reports to a CB, it will not be reflected!!! Also, once a statement has been cut and there is additional activity (charges) thereafter, it will not be reflected as well to what is reported to the CB(s) - of course, making payments prior to a statement cut will always determine what actual balance will be reported, etc... This information definitely helps whether you decide to and/or or need to leave a balance on a particular CC on abiding what the lenders preferences are for future app approvals, PC's, and/or CLI's with a particular lender!!! Thank You for your time & patience!!! Smiley Wink


Thanks for posting what you've learned....so let me ask based off what I'm hoping I'm understanding this as...

 

So for example, my Chase freedom statement cut on 8/4. The statement balance was $42.08. Throughout the time I got my card up until the statement cut I spent ~$500 but kept making payments every couple of days. Does this mean that Chase will report $42.08?


If I may, I'm going reiterate... Your balance was $42.08 as of your "last" statement, correct? Then you charged up to $500 since then but you have NOT receieved another statement from them as of today, correct? If Chase has not reported to the CB(s) yet but reports to them before the next statement, it will ONLY be $42.08 - AS FAR AS I UNDERSTAND IT... However, once the next statement cuts & it includes the $500.00 - it will then be reported to the CB(s) as $542.08 (or however they round it off)...


Hmmm interesting. Thanks. This particular card is tricky because I make payments every couple of days (it's my "everyday" card and only has a limit of $500). I guess I'll see what they report on my CR. Heck, the account hasn't even shown up on my CR and I've had the card since 7/27.

Message 19 of 30
Highlighted
Established Contributor

Re: Utilization Question


@LVKalani wrote:

@LVKalani wrote:

@AvadaKedavra wrote:

@LVKalani wrote:

@LVKalani wrote:

Hello Everyone!!! I have a question about utilization... Is utilization based on the balance after a statement has been cut or is it considered the activity before a statement is cut? I have been 4 months into all this and suddenly now doubting myself on what I've been thinking all this time Smiley Surprised - sorry if this sounds dumb...!?! Smiley Embarassed LOL!!! Thank You in advance with your replies!!! Smiley Happy


Okay, so I had to open up my resources a bit more, research further, and find opportunities for an educated answer... Didn't expect to experience a sense of impatience (completely surprised), so here goes to hopefully help all the others out there that may be seeking the same advice!!! YES, credit utilization (lenders combined) is based on what each lender reports to the CB(s)... What is reported by a lender to the CB(s) will be the most current statement balance (only) at the time it is indeed reported... If a payment has been made by the cc user after the their statement has been cut and before that lender reports to a CB, it will not be reflected!!! Also, once a statement has been cut and there is additional activity (charges) thereafter, it will not be reflected as well to what is reported to the CB(s) - of course, making payments prior to a statement cut will always determine what actual balance will be reported, etc... This information definitely helps whether you decide to and/or or need to leave a balance on a particular CC on abiding what the lenders preferences are for future app approvals, PC's, and/or CLI's with a particular lender!!! Thank You for your time & patience!!! Smiley Wink


Thanks for posting what you've learned....so let me ask based off what I'm hoping I'm understanding this as...

 

So for example, my Chase freedom statement cut on 8/4. The statement balance was $42.08. Throughout the time I got my card up until the statement cut I spent ~$500 but kept making payments every couple of days. Does this mean that Chase will report $42.08?


If I may, I'm going reiterate... Your balance was $42.08 as of your "last" statement, correct? Then you charged up to $500 since then but you have NOT receieved another statement from them as of today, correct? If Chase has not reported to the CB(s) yet but reports to them before the next statement, it will ONLY be $42.08 - AS FAR AS I UNDERSTAND IT... However, once the next statement cuts & it includes the $500.00 - it will then be reported to the CB(s) as $542.08 (or however they round it off)...


I just checked your siggy, your CL is $500 just like mine - how are you able to put $42.08 and then another $500 on your card?!? LOL!!! can I trade cards with you?!? LMAO!!!


Haha...I literally make payments every few days because of the amount of everyday spending I do on it. I wish transactions would post faster than they do so it let's me pay more than is actually posted. So many in "Pending" for days...it's annoying.

Message 20 of 30
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