Is it true that when you have a paid off balance, the statement shows $0 balance owing nada, something somewhere, still reports a 10% utilization on that credit card? BTW, I do pay off or pay down various accounts by the due date or ending date, whichever is applicable.
No US Bank accounts.
I am capable of spending enough to reflect a 1% balance and letting that cycle but I thought having a ZERO balance would translate to the 0 being blended in with other percentages to achieve the average. So, that's what I have been doing on certain accounts that don't return any CB or travel rewards.
I think you may also be confused with the due date and statement cut date. They are two different dates, with usually a month in-between.
If you pay before the
statement cuts, they will report 0 to the credit bureaus.
If you pay before the
due date on the statement, they will report that balance that you paid, to the credit bureaus.
So say I have two cards and I want to show 1% utilization.
C1 has $1,000 limit; statement cuts on the 1st of every month. I've spent $500.
C2 has $1,000 limit; statement cuts on the 1st of every month. I've spent $500.
Together I have $2,000 in credit, so to get to 1%, I can only allow up to $20 to post (20/2000=1%).
So I would...
C1= pay off around the 28th of the previous month so nothing reports
C2= pay $480 around the 28th of the previous month so the balance is left at $20 and therefore, $20 dollars reports
Hope this spells it out and helps you!
I would just forget the 10% thing you heard as it depends on the situation. There is not a set utilization percentage that will always post--it's up to what you allow the statement to cut at.