Hi I am new here on the forum and I have scorewatch and my score dropped today not significantly but it said I had a balance of 456. on Wf cc with a 4000. limit that I pay off each month in full it said it hurt my score. How can I determine the date they report so I can leave a small balance on my card? Thank you in advance In addition this is a new card but I have a great credit history. I don't get the game or how to play the fico score game? If I show no balance they drop me then last month I charged on the WF and they raised me and this month I show a balance they drop me? Dont get all of this Any help would be greatly appreciated
Welcome to the forums!
Almost all lenders report the statement balance: if you have the SW alert just now, most likely your statement closed a few days ago, and if so, that was likely what occurred. Can double check this by looking at the statement that WF generated, and see if the balance matches, though I've never heard of WF doing anything different than that. The other possible case as it's 8/1, is they report the last day of the month which is what 2 lenders I know of do.
Most of our members (when they care about prettying up their report and score) simply pay ahead of the statement/reporting date as you suggest to manage what gets reported to the bureaus, either $0 or a small balance depending on which card they want to show a small balance (don't want everything reporting $0, that is another FICO negative).
