credit utilization tidbit and some questions

[Anonymous]

I pay my card off totally every month, my payment is due on the 20th and it covers activity up through the 10th (rougly)

In order to get my utilization down to zero I was going to pay the balance today off and then intended to not use my card until after the 1st of the month

Come to find out, myCC reports the utilization on the DUE date. So my charges between the 10th and the 20th have already been reported. Paying the running balance today didn't do me a bit of good. The next report won't go in until the 20th of NEXT month and to get down to zero util. I'll have to pay off my balance due PLUS the charges that I don't REALLY have to pay until the 20th of March.

Kind of a pain but now that I know the rules I can deal with it!

Bottom line is make sure you know how YOUR CC reports!

I also have a couple of questions.

I have an old HELOC that is closed but the credit union never reported it closed.

It last reported in 6/07 but it still has a $37,000 balance under "recent activity"

Is this dragging me down?

Also I'm an "authorized user" on my wife's CC. Does that balance count against me?

[RobertEG]

1.  If the HELOC is still showing as an open account TL with a balance, then it is counting against your %util.  Is it reporting as installment or revolivng?  Some HELOCs report as revolving, since it is an account that enables you to draw against its limit.  I would definately get this cleared up with the OC if it is paid.  Having it reported as closed is not important.  Having the current balance report as %0 is.  A creditor is required to accurately report current information.  Just call them and ask them politely to update your credit file by showing zero balance.

This should be no biggie, as they dont want to be accused of inaccurate credit reporting.

2  If you are an AU, yes, it counts the same as any other TL in FICO scoring.  So, yes, the balance counts against you.

[Anonymous]

l the only CRA I can access online is Experian

The other two say I can only get thiers by mail, I'm guessing that's because I have a dispute being investigated

Anyhow Experian shows the account as open, never late, last updated 6/07 and "recent balance" $37,000 dated 6/07

It's an installment account

so I'm not sure how the computer deals with that

I'm hoping if I get that wiped off and pay my CC's down to zero on the REPORTING dates (instead of the dates the bill is due)...... that might give me the 14 points I need to re-fi if rates dip a little lower