Yup- they report the statement balance to the credit bureaus

Jul 30, 2014
8:10:16pm

cheezedawg

So if you charge a bunch to your card one month, your utilization will be high and your score will drop until the next month.

If you are really concerned about it you can pay down the balance before your statement closes.

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cheezedawg

Bio page: cheezedawg
Joined: Oct 4, 2007
Last login: May 4, 2024
Total posts: 66,382 (16,751 FO)

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Messages

Author

Time

I'm late to the party, but I finally got my first credit card. General tips?

ldssdl

7/30/14 7:22pm

Max it out ASAP. Credit bureaus love this.

SandYFan

7/30/14 7:23pm

Never use more than 20% of your available credit. Always pay it off every month

RexIdaCoug

7/30/14 7:25pm

I haven't heard the 20% thing before. Can you explain why?

ldssdl

7/30/14 7:26pm

here you go

RexIdaCoug

7/30/14 7:28pm

For clarification you are saying do not carry a balance forward more than 30%

SanDiegoCoug

7/30/14 7:36pm

My understanding is that credit utilization is

RexIdaCoug

7/30/14 7:41pm

^^This is true.

Jonce17

7/30/14 8:00pm

Yup- they report the statement balance to the credit bureaus

cheezedawg

7/30/14 8:10pm

This is going to sound really naive, but...

ldssdl

7/30/14 8:39pm

I think so....

RexIdaCoug

7/30/14 11:07pm

Not exactly

supertux

7/31/14 9:20am

examples:

supertux

7/31/14 9:25am

Use creditkarma.com and creditsesame.com to see your credit score for free.

supertux

7/31/14 9:25am

Statement balance != current balance. You can have a current balance of 100%

supertux

7/31/14 9:13am

Ok. So when/how is the statement period different than the due date?

ldssdl

7/31/14 9:16am

RE: Ok. So when/how is the statement period different than the due date?

supertux

7/31/14 9:20am

Nonsense. max it out every month and pay it off every month

Bob Vance

7/30/14 9:44pm

Get a pretty one with lots of fish on it.

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