I'm in a similar situation but won't be able to pay in advance prior to statement posting to my account. I read somewhere that it counts on both the individual card's utilization and your overall credit. Is that true or is it only based on your overall credit?

I plan to make a $10K purchase soon and if it's based on my overall credit (Chase, Citi, AMEX) I should be around 22% utilization vs 67% if it's based on one card. Will this lower my score temporary for this month only and if I pay early next month, the score will go back up again? I assume it "fluctuates" each month depending on your how much you spend and how early you pay before it gets posted.

I will be able to pay it off before the due date but was just worried how it will impact me since it will most likely be reported to the credit agencies and I will be applying for more cards come mid January.

Thanks.