When in the billing cycle is credit utilization calculated? Say I spend $1000 every month and always pay it off in full when I get my payment reminder (3 days before it’s due). Is it $0, because I don’t carry a balance? Is it $1000 because that’s what I spend in a cycle? Or is it $1500 (the maximum balance I would have; when I go to pay my bill I’ve already charged some for the next billing cycle)? This has always been really confusing to me.