am I overthinking this?

[Anonymous]

I've got about $50K in available CC credit on 5 cards

Right now I'm showing about $1100  of utilization on 2 cards

If I wait a week that'll go down to $330.......on one card

will that be so low as to hurt me?

or should I just have my bank pull now?

[Junejer]

IMO, no! I think that one card reporting is optimum. At least for me and my bucket.

[RobertEG]

I think you would probably get more by paying off 4 of the 5 cards doen to no balance.  You currently have 40% of your cards with balances.  However, you wont see the benefit for 1-2 months, so how soon do you need to app?

[Anonymous]

well I can pay off one card before the 9th and get it to zero

then I'll only have one card reporting

but the balance would only be $331 of $50,000 available

will I get dinged for using too little?

why would it take 1-2 months to show up?

don't they adjust the score "daily"?

I don't have any real timeline to apply...... right now my banks 30 yr rate is 5.125% and I have a 6.375%

I'd like to refinance somewhere around 4.50% and I think we'll see that and maybe lower in the next few months

I'd probably bite at 4.75% and just lock it so............

[Junejer]

As I stated in my previous post. You are not having too little report. What is the CL on the card with the $331? You won't likely get dinged until you show $0 on all cards, so don't worry about that, right now.

Your CR may potentially change daily, but that's subject to when the CCCs are going to report to the CRAs, typically monthly on the statement dates. When does your statement cut on this card with the balance? Who is the card with?

[Anonymous]

OK the $771 will drop off around the 10th and be paid down to zero

the $316 is on a BoA VISA Signature so it doesn't show a "limit" but I read elsewhere here that they use your high balance to compute the limit for credit utilization and that was about $9300

so the $316 will about $3.4%.......... I can't get that number lower until the 25th of this month

if I can get them all to zero except that one I might have my bank pull my score if the  30yr rates drop significantly

otherwise I guess I could wait

man this is really a game....

[Junejer]

---

AKCheese wrote:

OK the $771 will drop off around the 10th and be paid down to zero

the $316 is on a BoA VISA Signature so it doesn't show a "limit" but I read elsewhere here that they use your high balance to compute the limit for credit utilization and that was about $9300

so the $316 will about $3.4%.......... I can't get that number lower until the 25th of this month

if I can get them all to zero except that one I might have my bank pull my score if the  30yr rates drop significantly

otherwise I guess I could wait

man this is really a game....

---

Yes it is a game. Once you learn the rules, it's rather fun defeating the system. Just watch out for rule changes by lenders (CLDs and other AA).

You should expect to see the CRAs update 7-14 days after the 10th then.

[Anonymous]

so my credit score won't actually change until 7-14 days after the CCC reports the balance to the CRA?

I thought it was more or less the next day or whenever it got entered in their data base...... kind of like updating a spreadsheet....

no?

[Junejer]

Once the statement drops, the CCC has to get around to reporting the information to the CRAs. That may take a few days. Then the CRAs have to get around to inputting the information, which may, in turn, take a few more days. Most members here have figured out that EX is the quickest to update, then either TU or EQ, depending upon who you talk to about it.

[Anonymous]

Good to know!

Experian is the only free report I've been able to get online

and they indeed DO seem to be almost overnight at least as far as posting the balances

not sure about updating the point score