@takeshi74 wrote:
@masscredit wrote:
@Anonymous wrote:
Does anyone know what day capital one reports utilization?
For me it's a few days after the statement closes.
You and some others in this thread are confusing update date with report date. Creditors that report at statement end report on statement date. However, it can take CRA's several business days to update. Balances are not updated on your reports in real time.
@CreditGuy03 wrote:
Be careful playing the game with CAP 1.
They charge all interest and fees AFTER the statement closes which means the interest and fees are reported to the bureaus. I had my card at a zero balance and then when the new statement cut it said I owed 112 bux.
All creditors add intest at the end of the cycle. If you want to avoid having interest impact your repotred balance then you need to ensure that you're not subject to interest. If you carried a balance it can take a couple of cycles to pay off the residual interest. Make sure you understand how your grace period works and when it is applicable and when it is not.
@DaveInAZ wrote:
So I think it's best to rotate the cards you let report with $0 balance.
Best is highly subjective just as it is on any topic and it's for each to determine. I don't bother with this as I'm fine with my scores even with balances reporting on pretty much all 12 of them. I think 2 happen to be at 0 this month.
@takeshi74 wrote:
@masscredit wrote:
@Anonymous wrote:
Does anyone know what day capital one reports utilization?
For me it's a few days after the statement closes.
You and some others in this thread are confusing update date with report date. Creditors that report at statement end report on statement date. However, it can take CRA's several business days to update. Balances are not updated on your reports in real time.
@CreditGuy03 wrote:
Be careful playing the game with CAP 1.
They charge all interest and fees AFTER the statement closes which means the interest and fees are reported to the bureaus. I had my card at a zero balance and then when the new statement cut it said I owed 112 bux.
All creditors add intest at the end of the cycle. If you want to avoid having interest impact your repotred balance then you need to ensure that you're not subject to interest. If you carried a balance it can take a couple of cycles to pay off the residual interest. Make sure you understand how your grace period works and when it is applicable and when it is not.
@DaveInAZ wrote:
So I think it's best to rotate the cards you let report with $0 balance.
Best is highly subjective just as it is on any topic and it's for each to determine. I don't bother with this as I'm fine with my scores even with balances reporting on pretty much all 12 of them. I think 2 happen to be at 0 this month.
All I did was this -
Capital One; statement released 24th of the month, due date for the balance is the following 21st.
I paid the card down to $18 of a $229 CL or 8%. Once the statement posted, that was the balance on it. A few days later I paid that balance. Experian monitoring shows that $18 balance, but I won't be paying interest on it because I paid it off to zero WAY before the due that.
This balance has been reported to TU via CK and Experian.
My SDFCU card only whos zero balance and the $275 CL. According to Experian monitoring that comes out to 4% of available credit used out of $504 in revolving credit.
The statement on that card will be released 1/15. I have already paid the card down from it's high of about $249 to $149 and I will pay that down to 8-9% of the CL before the 15th.
I will call them on Monday as I am unclear as to when the statement releases and the due date is. I don't have to pay it down to zero I don't believe, I can pay it down to $27.36 and still be under 9% for my total CL.
The high balance on both cards is because not of my doing but other sh*t. One is Christmas in general and the other is a call to the plummer. The Cap One is creeping up to about 60% of it's CL but I will pay it down to about $18 again way before the next statement.
I am using the cards for EVERYTHING.
Even though I am in the middle of car shopping, the cards come first however.
