utilization rate reporting

[twist7d7]

so about 5 months ago I was approved for the discover it card with $800 limit. this was my first card and i use it every day for small and large purchases. i went on credit karma today to check my score and its sitting at 688. my utilization rate is at 29% tho!!! I max the card out every month and pay it down to 0 before the payment is due. Does anyone have any tips on how this can be? is using the card like this hurting my credit? would i be better off with an amex charge card? 

[user5387]

The balance on the statement date is typically what is reported to the credit bureaus.

If you then pay that balance at some point in the next 20-25 days (grace period), you will avoid interest but your payment will not affect the reported balance.

Since that balance is used to calculate your utilization, you might wish to pay before the statement date.

There are many threads around here that discuss this issue in depth.

[JustinS]

Going strictly by what you stated it would seem like a payment you made didn't post against the actual balance before it reported. Also keep in mind sometimes creditors don't report exactly on the statement date. I'm unsure what discover's procedure is on that (only recently was approved for mine) but it may be that you made a charge after the statement cut but before it reported to the CRAs. I'd definitely recommend looking at an additional card and/or amex charge as you stated. If you're certain you intend to PIF monthly than a charge card is probably a better way to go.

[twist7d7]

i would always PIF i just dont know if amex would approve me for the card i just got a amex BCE with 2k limit and have 3 HPs on my record. im thinking about waiting 90 days and to build a relationship with amex first then go for the gold card or green card. my credit score is 688 if i didnt mention that before

[user5387]

The Amex charge cards require heavy spending to justify the AF.

If you have two CCs, you can rotate them and pay them down or off just before the statement date, and thereby control your reported utilization.