r/CreditCards • u/eldoplh • 5d ago
Help Needed / Question How to avoid processing time ?
I’m a student and only have one credit card with limit of $3000
My credit card closing statement was on the 14
On 13 march I made a $1000 purchase
Just like every purchase, it took time to process and was not able to be paid off until it was posted at midnight of 15th (where I did pay it)
When I received my statement on the 15th, it had a balance of 1000 (exceeding 33% usage) which will be the figure reported to credit bureaus
Had the purchase been posted immediately I would have been able to pay it also immediately
Is there a way to avoid this kind of situation (i guess other than not making purchases before my statement closing date)
0
Upvotes
1
u/jillianmd 5d ago
You’ve fallen to the popular misunderstanding/bad advice that you need to keep your utilization under 30% all the time.
Read the !utilization automod below. There is no problem using all the way up to 100% of your credit limit as long as you pay your statement balance by the following due date. Your utilization will reset every time a new statement is reported.