Working on phase 2 of rebuilding, actually managing new accounts correctly.
Have a newer Discover It, $1000 trade line.
Have a newer GECRB/Walmart, $400 trade line.
Paid Discover before statement cut to $19 balance (1.9%). Pulled report today and shows $19 balance (and got some point bumps).
Paid GE today to $100 balance (25%). Waiting until July 2 for it to report.
When it does, my aggregate utilization will drop to 8.5% (119/1400).
Am I shooitng for 1-9% AGGREGATE utilization or 1-9% on EACH card, or both (no more than 9% on any and less than 9 overall)?
I'm finally getting the hang (I think) of paying them before the due date, letting a small balance report show up at CRA and then running spend through them again.
Question on timing though: Do Discover and WM report the last statement balance or the balance at time of reporting?
For example, if I pay Discover and have the $19 balance at statement cut (about 4 days before they report to the CRA) and I spend in the period between cut and report, does it report the statement balance or the balance (statement + spend) at time of report? Do I need to wait until after they report, I guess is my question?
Thanks. You guys have made me in to an addict at rebuilding.
Starting Score: 640 TU / 593 EQ / 596 EX (3/1/13)
@fixingitohio wrote:Working on phase 2 of rebuilding, actually managing new accounts correctly.
Have a newer Discover It, $1000 trade line.
Have a newer GECRB/Walmart, $400 trade line.
Paid Discover before statement cut to $19 balance (1.9%). Pulled report today and shows $19 balance (and got some point bumps).
Paid GE today to $100 balance (25%). Waiting until July 2 for it to report.
When it does, my aggregate utilization will drop to 8.5% (119/1400).
Am I shooitng for 1-9% AGGREGATE utilization or 1-9% on EACH card, or both (no more than 9% on any and less than 9 overall)?
I'm finally getting the hang (I think) of paying them before the due date, letting a small balance report show up at CRA and then running spend through them again.
Question on timing though: Do Discover and WM report the last statement balance or the balance at time of reporting?
For example, if I pay Discover and have the $19 balance at statement cut (about 4 days before they report to the CRA) and I spend in the period between cut and report, does it report the statement balance or the balance (statement + spend) at time of report? Do I need to wait until after they report, I guess is my question?
Thanks. You guys have made me in to an addict at rebuilding.
To the OP its actually let one card report 1-9% and all other report 0 so you may want to pay walmart off totally..
Well, there's always next month I guess 
They only report your highest balance at time of report, I bought my DW some jewelry at 428.00, at the time it was right at statement cut, this is what they reported, I paid off and have made several smaller purchases after and the 428 ( I had a zero balance before the purchase) is still reported as highest balance, you don't need to worry about this if you are not applying for new credit, if you are working on your score, best to let one post a small balance, pay off and start over again, fico doesn't like all zeros.
Best of luck
@Anonymous wrote:They report your balance, period, on the day it is reported to the CRAs.
+1
Sorry guiness, I missed a line, yes they do report your current balance, my bad
Just got a SW alert.
+29 points for paying off Discover. Might even have time to pay off WM too. Curious what kind of bump I'll see with that going to 0%
Yay!
Paying off WM will leave me at 1.9% overall (20/1400) with a zero balance on WM.
Good plan?