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Question By
isamikrob

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So if I lower my credit card utilization my credit will go up? Will that be immediate or over time?

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Balance reporting

Helpful to 2 out of 2 people

Good question,

Your credit card balances are typically reported to the credit bureaus at the statement date, not the due date.  So to stay one step ahead, pay your cards 4 days before your next statement.  This will insure that you receive the highest score possible based upon the balance you have on your cards.  

Credit cards are designed to be paid off monthly (no interest).  But for those that make large purchases and carry a balance you can see your scores go down, some times significantly by maxing out credit cards.  

I've seen some of my clients scores go up 60-100 points by paying off their credit cards and we rapid rescore the balances which take about a week for us to update at the bureaus.

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