Utilization Question

[SouthJamaica]

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@FlaDude wrote:

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@Anonymous wrote:

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I understand that FICO is based on the reported balance, but I'm paying off what I'm using before the statement cuts so I'm never carrying a balance. But yet you're saying it's bad to use 50% of my utilization during the month even though I pay it off before the due date?

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The reported balance is the statement balance, this is what CC companies report to the credit bureaus. If you are paying after that, your lender would know that, but the CBs wouldn't so other lenders wouldn't know.

The major exception is Chase, they do a mid cycle report any time the balance is paid to zero.

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There are other exceptions as well.

[Anonymous]

I understand that FICO is based on the reported balance, but I'm paying off what I'm using before the statement cuts so I'm never carrying a balance. But yet you're saying it's bad to use 50% of my utilization during the month even though I pay it off before the due date?

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This post ^^ was a bit ambiguous..

Statement date

Due date

These are 2 different things. which date are you paying it off by? 

[Anonymous]

He’s paying it before the statement cuts that means before the statement date, before the statement is generated.