Your balance is the unpaid amount on any given day. Your utiization is a snapshot of your balance on your statement date.
You could have a 0 balance for 28 days and unknowingly make a large purchase the day before your statement closes and now youre at 63% and your score takes a hit. You could also be at 63% of your limit for 28 days and pay just before your statement closes and have a 0% utilization and your score doesnt take a hit.
So even if one pays the balance in full every month, so that no interest charges accrue, they can impact their credit if timed incorrectly and that could lead to higher rates elsewhere.
It was trying to download the PWA then the domain started giving me issues. Its now at https://whichcard.info
Yes, theres more to that than the 30% rule.
The goal is to optimize your utilization:
- start with the 30% rule for daily management
- spending: dont use AMEX until tomorrow - use Chase instead
- bills: move AXA car insurance to Discover card to save $10/mo
- due date: move utility bill from 7th to 10th to drop utilization 9%
* avoid spending between due and statement date because that could "undo" your payment and artificially spike your utilization
Sorry, it wasn't my intention to demean the project. I can just see a humorous aspect to it. The human element reminded me of Mancierge
https://www.youtube.com/watch?v=d4WrPkKc2Wg
Fair question on price! But if loud alarm clocks across the room worked for heavy sleepers, this wouldn't exist. I've tried every alarm hack - the human element and social pressure is what makes the difference. Plus $19 occasionally vs missing important meetings/flights is worth it.
You could have a 0 balance for 28 days and unknowingly make a large purchase the day before your statement closes and now youre at 63% and your score takes a hit. You could also be at 63% of your limit for 28 days and pay just before your statement closes and have a 0% utilization and your score doesnt take a hit.
So even if one pays the balance in full every month, so that no interest charges accrue, they can impact their credit if timed incorrectly and that could lead to higher rates elsewhere.
I'm sorry it didn't translate as I'd hoped.