how to know when the balance is reported to credit bureau?

[Anonymous]

I have a very short history and also a relatively low credit line. I am trying hard to build a better credit but it's hard for me to keep the ultilization always less than 10%.

My understanding is that it's fine if I can keep it less than 10% when the utilization is reported to credit bureau. Is that correct? If so, how do I know when the cc companies report the balance.

I did some search and found one guy says: "any new balance I have accumulated between the due date and closing statement of the card will be reported to the credit bureau." Does it mean that keeping a low balance before due day and not using it before closing day is a good idea?

[Anonymous]

Basically pay the bill 3 days before the statement cuts, leave $10 or something like that to show on statement day. 

Unless it's US bank, which apparently reports the balance you have at the end of the month, regardless of when your statement cuts. 

[Anonymous]

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@Anonymous wrote:

Basically pay the bill 3 days before the statement cuts, leave $10 or something like that to show on statement day. 

Unless it's US bank, which apparently reports the balance you have at the end of the month, regardless of when your statement cuts. 

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Thanks for your answer!

A quick question about the terminology, the "statement cuts" means the "due day", is that correct?

[newhis]

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@Anonymous wrote:

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@Anonymous wrote:

Basically pay the bill 3 days before the statement cuts, leave $10 or something like that to show on statement day. 

Unless it's US bank, which apparently reports the balance you have at the end of the month, regardless of when your statement cuts. 

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Thanks for your answer!

A quick question about the terminology, the "statement cuts" means the "due day", is that correct?

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Statement cuts, is the close day (21-28 days before due day)

[Anonymous]

Here is the timeline: 

Today, 7/20: Charge $5 for a burrito and $1000 for a plane ticket

(For example) your statement cuts on 8/5. This means that is when the statement cycle ends and you are issued your monthly statement. The balance on 8/5 is what is reported to the credit bureaus and what FICO uses. 

What follows is a grace period, usually 25-30 days

Assuming a grace period of 30 days, bill is due on 9/5. This is the due date. You must pay your bill of $1005 by this time to avoid paying interest. 

What you should do, in this example, is on 8/1 or 8/2 push through a $1000 payment. That way on 8/5 you will only have a $5 balance (assuming no other purchases of course). Then the credit agency only sees a balance of $5, though they do see a total spend of $1005. 

[Anonymous]

Here is the timeline: 

Today, 7/20: Charge $5 for a burrito and $1000 for a plane ticket

(For example) your statement cuts on 8/5 with a $1005 balance. This means that is when the statement cycle ends and you are issued your monthly statement. The balance on 8/5 is what is reported to the credit bureaus and what FICO uses. 

What follows is a grace period, usually 25-30 days

Assuming a grace period of 30 days, bill is due on 9/5. This is the due date. You must pay your bill of $1005 by this time to avoid paying interest. 

What you should do, in this example, is on 8/1 or 8/2 push through a $1000 payment. That way on 8/5 you will only have a $5 balance (assuming no other purchases of course). Then the credit agency only sees a balance of $5, though they do see a total spend of $1005. 

[takeshi74]

A CMS like CK also indicates when your accounts report.

[Chaselover]

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@takeshi74 wrote:

A CMS like CK also indicates when your accounts report.

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even though CK is not accurate. 

Best way to get this is by collecting your previous statements and check an approx. date for every statement and keep bal low before that approx. date.