80 People Helped
Member Since: October 2011
You don't incur interest until after the due date, not the billing date. If your bill shows $300 on a $1000 card, you will show 30% utilization. Pay it before the due date but AFTER the bill posts, and you will pay 0% interest and still show utilization. Paying off before a new billing cycle starts nets you nothing with the beureaus.
WilliamMitchell's reply was:
Your due date and end of billing cycle are two different things. Wait for the bill to come out, they don't charge interest until after the due date. If you pay off your balance before the bill actually posts, you will show a 0% utilization. So you always have activity showing, a balance showing, but never pay interest. Hope this helps. It's what I do and my credit went up 62 points in three months since getting the new card.