CC Strategy

[NeverTubetheGoose]

I am an AU on a Citi cashback rewards card. Obviously we want to keep util under 30% but does it have to be under 30% for the entire month or just on the day they report to the bureaus? Can we charge more than the 30% to get the rewards points, but PIF before they report and not have it affect our scores?

[Anonymous]

By the time it reports. You can charge and pay as much as you want during the month. 

[NeverTubetheGoose]

Good to hear. Thank you!

[NeverTubetheGoose]

Follow up question. How do I know what day the cards report the to 3B?

[Anonymous]

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@NeverTubetheGoose wrote:

Follow up question. How do I know what day the cards report the to 3B?

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Go on creditkarma and click on the credit account and it'll tell you the time it reported the last month. Should be the same every month. For me its usually 3 days after the statement cuts it gets reported. But as long as you pay it before the statement cuts you'll get that 0 balance reported.

[NeverTubetheGoose]

It looks like the closing date is the 21st and that's the day they report to the 3Bs. So I should schedule my payments to PIF on the 20th?

[Anonymous]

If it will post to your account by the next day then I think you can.  You do have to remember to pay your statement balance by the due date or you will pay interest.  Or at least the min payment to avoid a late fee.  The due date is usually a few days before closing.  

[FireMedic1]

The 30% util on the net is baloney. You can use the card as much as you want. Its the reported amount that reports is what you want at <8% that you pay before the statement cuts. The more you swipe the more the company makes. Then when you ask for a CLI. The better chance you have of a decent CLI depending on who the creditor is.