Credit card utilization

[Anonymous]

Is credit utilization reported monthly? If I had a high utilization last month but this month is back to where it should be, how soon will this be reported? 

[Anonymous]

It updates whenever the card reports the balance to the CRA's. For example: My statement date for my Capital One card is the 6th of every month and on the 9th whatever balance I have left on the card (if any) that's what get's reported. I'm sure others will chime in as well!

[Remedios]

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@Anonymous wrote:

Is credit utilization reported monthly? If I had a high utilization last month but this month is back to where it should be, how soon will this be reported? 

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As soon as your card reports.

Most report right after statement date.

US Bank reports last business day of the month.

Allow at least 7 days for update to reflect on all three CRAs, some are slower than the others, even though they recieve data at the same time. 

[Kree]

Some companies will report "off cycle" or outside of their regular reporting schedule when you pay a balance down to zero.

Utilization has no "memory" the reports only care what your score is now. Theoretically you could go from 0% to 100% to 0% and have the exact same score as you started with.  Althoguh high Uti could have other negative effects.

Welcome to the forum.

[Anonymous]

It should report anywhere from a couple days to a week after your statement cuts. So let's say your statement cuts today, 02/12/2020, you should expect to see the balance/utilization reflecting on your CR between 02/13 - 02/19.

[Anonymous]

This is very helpful. Thank you so much. I've been wondering if it updates monthly or if this utilization is just going to be a burden on my credit report. 

[SouthJamaica]

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@Anonymous wrote:

This is very helpful. Thank you so much. I've been wondering if it updates monthly or if this utilization is just going to be a burden on my credit report. 

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It updates daily as new balances report.

[Anonymous]

Check your credit card statement's "closing date".  Good luck.

[Anonymous]

Make an account at Credit Karma go to utilization and it will show you the day of the month each reports. Just be aware there’s usually a one day variance based on the months.

I found this is the easiest place to get all the dates in one spot nice and easy and quick.