- Centurion Member
- Posts: 151
- Joined: Mon Apr 22, 2013 10:05 pm
- Location: New York, NY
One of the most frustrating things to me about keeping track of credit utilization is that banks are free to report utilization numbers to the credit bureaus whenever they want, and have statements generate whenever they want.
For example, with Chase, my statement always closes on the 19th of the month and my bill is always due on the 16th of the following month. Chase always reports my utilization numbers from my statement close date of the 19th.
Meanwhile, with U.S. Bank, the only thing that stays constant is my due date on the 16th, but the statement close date seems to very every month because the statement period is always exactly 30 days. Also, they report credit utilization numbers on the last day of every month. I don't particularly like this, mainly because if your due date is the 2nd, for example, you'll show a lot higher utilization than someone whose due date is the 27th.
Does anyone know what Bank of America does? I have a friend who is seeking my help in managing his utilization, but I don't know when Bank of America reports utilization to the credit bureaus, and if their statement close dates are the same every month.
Chase Sapphire Preferred Visa Signature: 11/2013, $15,000 CL
Chase Freedom Visa: 11/2009, $4,700 CL
U.S. Bank Cash+ Visa Signature: 11/2013, $11,200 CL