Utilization rate: closing date vs. reporting date

[facutardeat]

Hello all,

Here is a link to my initial post, which gives a brief rundown of my current situation.

My question here is about calculation of the utilization ratio.

The next closing date for my BofA BankAmericard Cash Rewards card is May 19.  I just called customer service and was told that BofA reports to the various credit bureaus at the end of each calendar month (in this case, May 31).

My next payment due date is May 16 (tomorrow).  I have already paid in full ($0 balance).  

Going forward, I plan to pay this card in full every month.  In order to maintain that 0% utilization ratio, should I make sure to pay the balance in full prior to each statement closing date, or prior to the last day of each calendar month when BofA reports to the credit bureaus?

Thanks very much in advance.

* EDIT * - - Additional question: how long, generally speaking, does it take for your CR to update following the date when the creditor reports?

[Revelate]

That's not my experience with BOFA, and hasn't been for the years I've been a customer there: I am not certain the CSR was right on that account... pay it before the statement date in BOFA's case.

Statement generated May 9th.

Scorewatch saw the balance update on EQ May 10th.

EX is usually quick for me to update things, Transunion appears to be slow at least based on the monitoring solutions I use but it's usually within a few days to a week at most and that could be my freebie CK monitoring.

[facutardeat]

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@Revelate wrote:

That's not my experience with BOFA, and hasn't been for the years I've been a customer there: I am not certain the CSR was right on that account... pay it before the statement date in BOFA's case.

Statement generated May 9th.

Scorewatch saw the balance update on EQ May 10th.

EX is usually quick for me to update things, Transunion appears to be slow at least based on the monitoring solutions I use but it's usually within a few days to a week at most and that could be my freebie CK monitoring.

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Thank you for the info.  Based on everything I've read so far (on these forums, various online articles), what you're saying sounds correct.

For purposes of calculating the utilization ratio, I'll be sure to pay the balance prior to the statement closing date.