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traflet

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Looks like a major flaw in calculation of "Credit Usage"
I have been paying off my FULL BALANCE every month for a long time but this report shows I had a balance of $924 on my AMEX card with only a $1,100 credit limit. This is a major influence on my score, but it is misleading to say I had a balance just because of the timing of their data collection. A few days later and it would have shown a ZERO balance due to my payment. I need a way to get them to be more fair with this important credit factor.

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The current way of calculating utilizations is unlikely to be changed, it's unrealistic to ask creditors reporting balances to CRAs on daily bases, as people have different due dates and certainly making payment at different days... However there are ways around it, you can make a separate payment day(s) before they report your credit activities to credit bureaus, make most your purchase after the date it reports, spread your spending over few cards, have couple cards with high credit limits.

Top Contributor
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Rotate your cards.

Just because you make a payment doesn't cause the card company to report. if you continue to use the card it will report what ever balance is due on the day they report. If you make your payment as soon as you get the bill, you usually have about 20 to build up your balance again before its reported the next month, When they send you the next bill. 

 Make your payment as close to the due date as possible.  That way the balance is at its lowest when the card is reported again at the next closing date. If you use online bill pay, you can actually pay on the due date and not worry about being late. 

The best option though, is to put your cards into a rotation and not over using them. let the cards report a 0 balance at least 3 or 4 times a year. 

Showing that you can pay off your debts regularly will go a long way towards improving scores. 

Good luck 

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