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The $0 balance trick that flipped my utilization math
I used to pay off my card every month but still saw my score stuck around 698 for over a year. Then my bank statement closed on the 3rd and I always paid on the 20th, so the balance reported was sometimes 80% of my limit even though I never carried interest. Last March I started paying twice a month, once before the statement date and once after, so my reported balance stays under 10%. My score hit 742 by June and now I'm trying to get a car loan at a local credit union in Madison. Has anyone else had a lender tell them the reported balance matters more than the actual paid amount, or is that just my bank being weird?
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