Those That Pay Your Credit Card Balance In Full... Please Come Inside

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Dylan1982
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Location: Chicago

Those That Pay Your Credit Card Balance In Full... Please Come Inside

Postby Dylan1982 » Thu Jun 06, 2013 12:07 am

I have a Chase Freedom card, my CL is $5k. I use my card EVERYDAY for EVERY SINGLE PURCHASE!!!!!!!

I ALWAYS pay my balance off in full every month. But here is my question.

Recently my score (based off of CreditKarma) has dropped b/c I use my CC everyday for purchases, so naturally I am going to have a higher utilization percentage.

When is it a good time to pay the credit card balance in full so that when the 3 bureaus report my score won't drop?

I always pay the balance in full a week before the due date. What is the proper and preferred way? I'm sick of my score taking a hit when in fact it shouldn't be.
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)


paparoach429
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Postby paparoach429 » Thu Jun 06, 2013 1:41 am

Well first of all Creditkarma is only for Transunion and if you are paying a week before the statement cuts then it should report low (as long as you don't charge a lot of purchases to the card in between the day that you pay and the day the statement reports. If you are that worried about Creditkarmas score then pay your bill the day before its due and don't use it until the day after it reports. Your Creditkarma will show it paid down to $0.

Dylan1982
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Location: Chicago

Postby Dylan1982 » Thu Jun 06, 2013 2:15 am

paparoach429 wrote:Well first of all Creditkarma is only for Transunion and if you are paying a week before the statement cuts then it should report low (as long as you don't charge a lot of purchases to the card in between the day that you pay and the day the statement reports. If you are that worried about Creditkarmas score then pay your bill the day before its due and don't use it until the day after it reports. Your Creditkarma will show it paid down to $0.

I just logged onto CreditKarma... My score jumped +29 points back up to 702... I don't get it. CK is also stating that Chase hasn't reported since 4/21/2013, showing that I have a balance of $2,891.... That $2,891 was paid of last month already in FULL!! I have a new balance of $1,571 that isn't due until 6/17/2013....


Ok so how should I pay my balance in full every month? My statement billing cycle for the month of May is from 4/21/2013 - 5/20/2013 and the payment is due until 6/17/2013. Using that info, how would you pay this card in full every month?
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

rockyrock
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Location: Ventura, CA

Postby rockyrock » Thu Jun 06, 2013 3:03 am

Dylan1982 wrote:I just logged onto CreditKarma... My score jumped +29 points back up to 702... I don't get it. CK is also stating that Chase hasn't reported since 4/21/2013, showing that I have a balance of $2,891.... That $2,891 was paid of last month already in FULL!! I have a new balance of $1,571 that isn't due until 6/17/2013....


Ok so how should I pay my balance in full every month? My statement billing cycle for the month of May is from 4/21/2013 - 5/20/2013 and the payment is due until 6/17/2013. Using that info, how would you pay this card in full every month?


Make sure the payment posts by 5/19, that way they have nothing to report.

Your score only cares what is reported. Chase makes $$ every time you use it; they aren't collecting any finance fees from you so to them a payment on 5/19 is no different than 6/17. The dates matter to you though because it is the difference of them reporting 0% utilization vs. 50% or whatever it happens to be after your statement closes.
American Express (2005): Premier Rewards Gold & Blue Cash Preferred
Chase: Freedom & UA Club USAA: Signature Visa & American Express
Discover it Bank of Hawaii Hawaiian Airlines WEMC Synchrony Sam's MC
Navy FCU Platinum Visa Citi Double Cash & AT&T Access MC

Dylan1982
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Posts: 323
Joined: Tue Mar 06, 2012 12:15 am
Location: Chicago

Postby Dylan1982 » Thu Jun 06, 2013 4:13 am

rockyrock wrote:Make sure the payment posts by 5/19, that way they have nothing to report.

Your score only cares what is reported. Chase makes $$ every time you use it; they aren't collecting any finance fees from you so to them a payment on 5/19 is no different than 6/17. The dates matter to you though because it is the difference of them reporting 0% utilization vs. 50% or whatever it happens to be after your statement closes.

Yeah after looking at my statement I was able to figure out the beginning and ending dates.

Thanks for your help...

Now should I leave a little balance on there to give me some utilization say <10%, or should I pay it in full and show 0% utilization??
Chase Freedom - $12,500 (2/2013)
GM Card - $7,700 (7/2002)
CitiBank (Thank You Preferred) - $6,400 (6/2012)
CitiBank (Diamond Preferred) - $4,600 (6/2012)
Rogers & Hollands - $3,300 (3/2006)
Target REDcard - $3,000 (11/2014)
BestBuy - $1,600 (9/2003)
Discount Tires - $1,000 (2/2004)
Kohl's - $300 (4/2012)

rockyrock
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Posts: 800
Joined: Thu Mar 21, 2013 6:06 am
Location: Ventura, CA

Postby rockyrock » Thu Jun 06, 2013 4:21 am

Dylan1982 wrote:Now should I leave a little balance on there to give me some utilization say <10%, or should I pay it in full and show 0% utilization??


Depending on how well you plan your spending it's likely a little will bleed over regardless. You would probably have to cease charging by the 14th to make sure everything clears in time.

I don't pay enough attention to the utilization % to speak on it. Never fear though, there are plenty of folks here that do.
American Express (2005): Premier Rewards Gold & Blue Cash Preferred
Chase: Freedom & UA Club USAA: Signature Visa & American Express
Discover it Bank of Hawaii Hawaiian Airlines WEMC Synchrony Sam's MC
Navy FCU Platinum Visa Citi Double Cash & AT&T Access MC



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