joshdebeaumarchais wrote:(1) Does anyone know what time of the month Discover most likely reports my balance to credit bureaus? Will it still most likely be a few days before my due date?
AFAIK it is after the statement closes. You can ask Discover directly.
joshdebeaumarchais wrote:(2) With my new card (which has a credit limit 5 times higher than my old card), what percentage of my credit limit should ideally be my balance when they report?
If you are going to concern yourself with this, then I recommend 10% or less.
joshdebeaumarchais wrote:(3)Is there any harm from a credit (or other) perspective of running my balance up a bunch and paying it off multiple times in one month prior to the reporting date, to take advantage of the cash back program?
No harm from a credit score perspective. From a personal standpoint, it's a lot of work for very little gain. I have never, ever followed this strategy and my score is just fine. YMMV but I wouldn't allow yourself to stress over this. Doing this IN NO WAY affects your cash back earnings. Your post implies you think it does.
By the way, you mentioned your it gets 1% CB. Just want to make sure you are aware of the 5% rotating CB categories?
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).