Find out when your statement close date is. Whatever the balance on your is on your statement close date, that is what will be reported to the credit bureau. So, you can use all $700 of your credit limit. But if you pay off $600 before your statement close date, obit $100 will be reported.
And if you have 800 credit score, get a new card or ask for a limit increase.
Feroze895 t1_je8ltwn wrote
Reply to Why are we encouraged to charge everything to a credit card but get penalized for high credit utilization? by New-Row7111
Find out when your statement close date is. Whatever the balance on your is on your statement close date, that is what will be reported to the credit bureau. So, you can use all $700 of your credit limit. But if you pay off $600 before your statement close date, obit $100 will be reported.
And if you have 800 credit score, get a new card or ask for a limit increase.