Credit Card Reporting

[Remedios]

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@Arcreactors wrote:

So my wife has a new amazon prime store card. They updated the account on October 1 then for some reason updated the balance on Oct-6. The statement cuts on the 1st and due date is the 25th. 

I have a balance of $102... No minimum payment due on Oct. 25th since this is a new card. Why would they report the balance already? I dont even have a statement yet. My purchases were on the 3rd and 4th.  

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Synch does that often, or at least they did to me. Reported balance almost every time I used the card for a few months. It's not a big deal as they will report again after the statement. 

It's just something that happens frequently with them. 

[Arcreactors]

Ok, so do I really have to keep up with always reporting near 0 balance or does that really only matter a month or 2 before I apply for new credit / mortgage etc. If it wont matter AT ALL in the long run then It seems I can avoid a big headache by just paying on time and then keeping things paid off a month or two out from applying.

Also, Should I be concerned at all with the "high balance"? Does it look negative if I have a 1000 limit and the high balance reports as say 900. Im not talking utilization... just strictly the what the creditor sees as the highest balance charged at a given time.

[calyx]

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@Arcreactors wrote:

Ok, so do I really have to keep up with always reporting near 0 balance or does that really only matter a month or 2 before I apply for new credit / mortgage etc. If it wont matter AT ALL in the long run then It seems I can avoid a big headache by just paying on time and then keeping things paid off a month or two out from applying.

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No, you really only need to keep up with reporting low for things like apping.   Utilization is a point in time and doesn't carry over, so your score won't grow any faster.    

With the increased popularity of trended data, it could be argued that using AZEO is over all not great, because it looks like you're not actually using your credit.

As for the 900/1000 - I know you say utilization isn't what you mean, but it's exactly that.  Whether it is good or bad will depend on the rest of your profile and the lender(s) involved.  Some care, some don't.   You might spook someone into AA, particularly early in a build/rebuild/account.  You might not.