@Anonymous wrote:
@rmduhon wrote:
With a due date of July 25th, your first statement will be June 28th. Cap1 statements are 3 days after the due date. So you can use the QS however much you want to (without going over limit of course) and pay it down before the 24th or so. First payments can take a bit longer to process than subsequent ones.
Might also want to mention "pay it down before 24th but don't let anything else post between the 24th and the 28th as anything new will also appear on your credit reports as utilization".
It adds confusion for sure but whatever balance is reported on the 28th, including new charges posted between your actual payment date and the statement date, will report as utilization.
I know this doesn't apply here with the Cap1 probably, but one thing that I learned the hardway when I was attempting to get all, except one, credit card to report a $0 balance is to be weary of cards with an annual fee that charge the fee monthly. Merrick, First Premier, and Credit One all charge their annual fee this way and it'll get charged on the statement date. The problem here is that you can PIF, the statement cuts, along with the AF, and they report the small AF balance. Which is a pain in the arse. In those cases, I simply add the monthly AF charge to my PIF amount so it reports 0% utilization. I'll be canceling my AF cards soon, but I'm keeping them on right now as they're helping with AAoA.
