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if i leave a balance on my due date ,when do i pay it off in full if the due date has past already, my due date is the 20 also well if iam trying to raise my credit why would you pay it off, that will show you did not use it 0balance, you guys have to explain that if the people want to raise the score the will have to pay interest, now if you dont want to pay interest you need to pay it off in full but you will get no points,
what he meant is that lets say you have a credit limit of $1,000 and u have a credit utilzation of 30% meaning $300 youre gonna want to pay $200 before the end of the billing cycle meaning before the 'statement due date' so now ur new balance after that statement due date will be $100 and since its a new billing cycle you can pay the $100 off before payment due date which is different! and its in most cases 3-4 days before the statement due date
I am so used to paying my FULL bills (utilities) before the due date. I think this is were my confusion is. Are you saying in your example using my dates, pay $200 by/before May 1 2024 (because you have to pay at least the minimum) which is the due date, and leave 100 to show utilization for end of cycle date May 5 2024? And pay $100 by/before the next due date? I just feel off having a balance forward. I think that maybe the difference in utility billing and credit card billing that I'm not understanding. Thanks so much.
@@LadybugLuv yes, that’s exactly what I explained! But remember depending on your card you’re going to pay interest if you carry any balance, it may not be much if it’s just 100$ but still!
What I’m always curious about is that people, even those I personally know, always refer to “one” score. We know there’s more. There isn’t one definitive score. So, if someone were to ask me mine, I’d say the score, which is the average of the three I know.
Listen folks, it’s simple. Pay your debts as you agreed to, any date before the due date. Pay all your bills on time every month and your score will be above 700. All the other factors such as credit utilization and age of credits are minor compared to on time payment history.
I have seen this first hand. I kept my cards at a zero balance for months . Then my score went down and they implied that they weren’t seeing usage . I let $10 on a card an my score bounced back to where I was and then some . Keep all zero but one . I rotate the cards that show a balance
Making multiple payments throughout the cycle is easiest for me. Do it all from my phone. I have an easy, 15 line, 2 column, Google sheets spreadsheet where I track charges and payments in real time, and also the couple of checks I write monthly, plus when payment clears. I try for 2% or less to post. Plus I pay all bills as soon as they post. I don’t wait for the due date. My scores range from 828 to 850 depending on which one is being used. This is based on the free scores my credit card apps give me.
Uncletobian, He's one of the best when it comes to credit score fix/inquiries and collection clearing, He helped me fix my credit to over 800+ with all my hard inquiries and collections all cleared off by him. Contact him and Thank me later.
Thank you. I'm trying to build my credit and this was the EASIEST, MOST CLEAR way that due date and statement dates were explained. Thank you for breaking it down at the end. It made things A LOT clearer to me.
This is phenomenal incite and break down. I actually use this same methodology about 2 years now. I under the first bill two days before the end date. And have my auto pay to pay off the balance by the due date. Thanks. I’ve seen my credit increase from 643 to 769.
Multiple payments during the same billing cycle aren't too much of a benefit in most cases because no matter how many payments you make, the credit card company only make 1 report a month to the credit bureaus. The exception that applies to me on that is specific to one card issuer, that being "Chase". On my Chase card, in addition to the normal monthly report, any other payment that takes my balance down to $0 will also be reported. For that reason, I won't use my Chase card to leave to practice the AZEO principle with, but AZEO is a discussion for a different video.
Looking at the comments after watching the video. I do not get why it is so hard to understand? I learned about paying prior to the statement date several years ago. The only part that I was not aware was the 10% or below. I was always told was to be below the 30%.
I use to be in the 500s but now have an 843. 1 mortgage and 4 credit cards. I don't wait to pay my cards until the end of the cycle I pay them in full whenever there's a balance showing so i pay multiple times per month. Always keep a 0% credit utilization.
So pay multiple times a day, whenever I get a balance showing? So don’t use it once, let’s say I have. $300 credit limit and get just a pack of gum and pay it by the statement date??? Do they look at what you actually used the card for? I’m stuck in the 500s and cannot get out smh. Advise if you can, PLEASE.
@Sanja Diggs do you have balances on your cards? It takes 1 day or 2 for a transaction to clear. Anyways I just use my CC and treat it like a debit card by paying it off a couple days after I use it that way I don't over spend. I don't buy anything unless I have the funds available in my checking account.
@@Sweetforeignn What? Why would you pay multiple times a day? You have to use the card. You have to buy more than that. Just use the card for a real purchase and pay the bill before the due date.
@@vital4644_ Bring your utilization to under 30% (better if its less than 10%) but then pay off the entire amount remaining by the due date so you dont pay interesest.
So what your saying is to stay under 10% on each card. I think the best thing is to increase your credit. That tends to bring increase my credit score.
Depending on how much I spend on my cards depends on if I let the balance report on my statement or if I pay them down a few days before the statement date then pay the balance a few days after. I keep my utilization at 3-6% and this practice has worked very well for me since I started rebuilding 6 yrs ago. Thanks for all the great information and I'm sure it's helped a lot of people. This is one of my favorite channels.
Uncletobian, He's one of the best when it comes to credit score fix/inquiries and collection clearing, He helped me fix my credit to over 800+ with all my hard inquiries and collections all cleared off by him. Contact him and Thank me later.
I don't know if it was mentioned, but you should only do this for 1 card. The optimal strategy for maxing your credit score is to have a small balance on one card and have all the rest paid off. For example, if you have 10 credit cards, your credit report should show 0 balance on 9 of them, and then a small balance (9% or under) on the 10th card.
GREAT Explanation, I see that my intentions were there by paying OFF my balances as soon as it was visible, but I wasn't really helping myself, because there was nothing to report to the 3 agencies. Darn, well it's not too late to start anew. I am desperately trying to up my credit score and this information is definitely going to help. Thank you.
I'm in the same situation. I put everything on the credit card because it is a citicard Costco visa that gives cash back based on how much you use it. I have no late payments, liens, or anything negative and have a "Good" rating with a score of 710. I was thinking how the heck do people get to 750 or higher! Maybe it is the utilization piece. Definitely worth a try. I already have it on my calendar for 3 days before the billing cycle ends for April...and of course it is on auto pay for "Statement Balance" on the due date.
@@pamlatimer4950 I built up mine from 726 doing that; now 850 Experian, 809 TransUnion and 809 Equifax. I pay about once a week; it isn't automated, but I pay the balance off as soon as my transactions post. As soon as my credit utilization goes over 2%, my score drops, so I keep my balances low.
I'm going for 90 days with 0% utilization (paid off before statement date) to use as a benchmark. Then I'll just exercise each card, let a low balance post, and pay it off the day it posts.
Wow !! I didn't know this at all I always paid my credit card bill on the due date I thought that's the right thing to do to build my credit But now I know that I am gonna start paying my credit card bill just as you said Thanks for the tips
I’m only here to support the channel considering I have nothing I’m going to apply for until August and still my utilization is 1% overall (using $245 of $33,500 limit). What I tell all my buddies and family members is to drill the statement close date for all your cards and treat the day prior to that as the due date to pay 99% of whatever your total balance is and than pay the final 1% the day you get your actual statement and just keep doing that over and over.
Thanks for the support and, yep, go down to 1% or whatever works for your mindset. Like I said, this is not relevant for most cardholders but it is a way to shine up the score if you want every single point.
Uncletobian, He's one of the best when it comes to credit score fix/inquiries and collection clearing, He helped me fix my credit to over 800+ with all my hard inquiries and collections all cleared off by him. Contact him and Thank me later.
I pay down to low utilization of 3% one due date. You don’t have to make two or three or four payments a month just one payment. They report the balance on the close of statement you can look at your statements and look at the end date of the bill that date is your close date. Due date and close of statement dates are different. Close date is when they start to report it to the cras
Very interesting, I have 4 credit cards and I was always told by other channels that it didn’t matter if showed 6-10% utilization on your credit report. I would always pay off my cards, and show 0% utilization. I will try this and see how it will impact my score. Thanks for the info!!!!
I thought this was a great explanation, but I can see why it may be confusing if someone doesn't have a lot of background knowledge on how credit cards work. Your video lines up with all of the other reputable resources I've been learning from. You showing your billing statement has helped me understand even more. Thank you!
One interesting thing to consider is how some cards handle no or low interest payment plans. For example, Amex has the "Plan It" feature, which lets you split up a large purchase into several payments at a (much lower) fixed fee, instead of carrying that purchase as a normal balance. The trick is that you have to wait until after your statement closing date to pay your card, otherwise your payment will go towards your "Plan It" balance before being applied to new charges. Chase had a similar thing with their Amazon Visa. 6, 12, or 18 month no interesting payment plans can't be managed separately. So payments need to be made after your statement posts.
He's one of the best when it comes to credit score fix/inquiries and collection clearing, He helped me fix my credit to over 800+ with all my hard inquiries and collections all cleared off by him. Contact him and Thank me later.
i wish Adam had discussed examples of people with multiple cards being reported with a small balance in a given month and what to do in that scenario. For example, 1 card only with a $500 CL is easy. But let's say you are using 4 cards and the total CL for all of them is $3000. Is it okay to be showing balances of 2% on each card? Will that help or hurt your score if all 4 cards are reported showing a small balance to the credit bureaus? I mean, utilization would still be total under 10% let's say but every card reports a small balance. Or how about 2 of the 4 report a small balance and 2 report a $0 balance. What happens to your credit score then? I wish Adam had discussed this because I'm sure myself and lots of others would like to know the answer to this.
When I got my first real unsecured credit card, I didnt realize that my balance only gets reported on the statement closing date, once per month. So with a $300 limit I was only making one small purchase per week, under $60. Then would wait until the purchase posted to my account so that I could pay it off immediately so that i could use the card for one more small purchase the next week or so after the balance cleared. Oh how naive I was 😂 if i knew what I know now i wouldnt have so obsessive about keeping my balance below 30% at all times throughout the month.
Thank you for the video. I understand how to manage my credit better now. I have been paying down all my cards multiple times a month so my wife doesn't think we have too much money, but my balanced usually went to zero. Now I'm going to check the statement dates so I have a balance, which of course, will get paid well before the due date.
Soooooo... Why don't you just say how you would pay this particular bill so your credit gets its best point increase. Like , I pay my card on the 14th but leave a 10% balance until just before the closing date I pay it off.
I’m new to credit but my score is above 700 I studied a lot of video before actually getting a card the best way to pay your card it to pay it off in full before the due date and the day after just make a small payment $5 or less.
Idk but my cards never report the statement balance . All my cards report 25days before the due date . For example, I have a card that has the due date on the 28th of the month & every month it reports to the CBs on the 3rd . Statement ends on the 30th . With another card , it’s due on the 10th , so they report either on the 15th or 16th depending on the month . It’s like that with all my cards so I just subtract 25 days from the due date to find out when it’s going to report .
This actually makes more sense than what the author was saying. Basically, pay the NEXT month within 5 days after the previous month’s due date (or 8 days after the statement/billing date), and it will have the best effect on your credit, right? I will try it this month, then check the balances reported. Thanks!
- Is it really under 10% or under 1% for a better score? I have heard of some stating 1% for maximum credit scores. - Credit reports sometimes have "highest balance" posted so, if almost maxing out a card and paying it down to under 10% prior to the closing date, is this still bad in the eyes of the issuing Bank or to other possible credit card banks if they see a past "high balance?"
Recently got a student credit card, £500 credit limit, I use it like normal, then make sure my utilization is under 10% before statement. Then just pay the rest off well before the Direct Debit. Hopefully ill see my credit score rise within the next few months
@@envypex7524 Yes after two months it started to go up slowly but surely. HSBC report to credit agencies on the statement day (17th in my case) so as long as you have paid off some of your balance to get to a healthy utilisation by then you’ll be absolutely fine. They report to transunion and Experian. I haven’t checked equifax yet
@@envypex7524 slowly after 2 months. They report every statement month. So I just pay my credit card early and have like 10% utilisation by statement date.
The way that I do it is I always pay my card down as soon as it goes over 10%, not the entire balance but enough so is around 5% let it run again to 10% and repeat on till the billing psyche ends and that day I pay it all if full, then I repeat the proses. Doing it this way I always report around 8 and 10% utilisation.
Uncletobian, He's one of the best when it comes to credit score fix/inquiries and collection clearing, He helped me fix my credit to over 800+ with all my hard inquiries and collections all cleared off by him. Contact him and Thank me later.
I think you need to say this: Your monthly zero interest charged "grace period" is a privilege that must be earned each month by making a payment at least equal to the last statement balance. If in any month your total payments are less than the last statement balance, on most credit cards you will lose your zero interest grace period for a full TWO MONTHS. And it can only be earned again by having TWO CONSECUTIVE MONTHS where you pay at least the full statement balance. That's the statement balance, not the current running balance that you must pay to keep that zero interest privilege.
Sir, great video. I appreciate the breakdown of when to pay and at what balance to have when closing happens. I've been making a purchase and then paying it off immediately. Always having a 0 balance at closing. I'll now leave 9ish% on the card. Cheers!
This is a great strategy for some extra CR score points! I didn't know it was 1o% of your total balance was the "good" zone. I only did this strategy for large purchases before, to bring my balance down ASAP, so it doesn't ping my CR score.
I maxed out my credit cards and just started paying the credit card with the less amount and min pay on the higher score first month my credit score went up 50 points.
You said a lot… fast💨 I had to keep rewinding when you were explaining the “due date vs the closing date.” I followed you closely, but for someone looking for a quick answer? They may get lost in the sauce.😂😂 Thank you for the useful info.
THANK YOU PROUD MONEY!! Have been looking for this exact info but couldn't find what i was looking for until i saw this video. Thank you for helping me build stronger financial literacy. Statement closing date and due date, in addition to under 10% utilization -is what i couldn't wrap my mind around until your video here. Thanks again!!
Mar 15 to April 14 is due on may 8. and you should pay at least minimum due or better the whole balance so you dont give your hard earned money to the bank( for not interest) and the report to bureau on the closing date THE BEST WAY OF USING CREDIT CARDS IS AS DEBIT
Okay I just found this video for the first time and I had to look at my billing cycle. On my credit card My billing cycle if 2/7 to 3/7. My payment due date is on April 4. Credit card company report to the credit bureau on the 7 of each month. In order to increase my credit score I will need to pay March 6 and again on April 4. Is this correct?
wouldnt it be better to pay off the entire balance before the Repot date instead of paying 90% before and 10% after the repot? that doesnt make sense to me... wouldnt you want it to report as having 0% utilization ? im so confused
He answers that around 10:00. If you pay it off completely before report date, it looks like you didn't use it because they see the $0 balance. If you pay it off down to just 10%, then they see you are using it some (though not too much) which is what they are looking for. This is only if you want to maximize your credit score for the purposes of getting a better loan rate. if you are at a decent score and not looking to take on big purchase financing anytime soon, then don't worry about it and just pay it all off
well if iam trying to raise my credit why would you pay it off, that will show you did not use it 0balance, you guys have to explain that if the people want to raise the score the will have to pay interest, now if you dont want to pay interest you need to pay it off in full but you will get no points,
I actually believe and understand everything you said in your video about paying part of the balance to bring it below the 10% mark and then pay the rest off after the new billing cycle starts. But that would be a hassle for me because I have so many credit cards including Discover to American Express a host of Mastercard and Visa‘s Home Depot Lowe’s Sam’s Club and some department stores and a shell Mastercard. Lol it would just be too confusing for me to do that for these cards so I just pay the balance off in full With a few strokes from my cell phone after the charges post to the cards. It’s simpler for me that way. And it doesn’t seem to be hurting my score since it’s 801 now.
This method only matters if your balance is MORE THAN 10% of your credit line on the card. Be sure you even have this issue to fix; you may not be broken🧐
Should we max out card at least once and let it report and payoff after they report to credit bureaus, I heard it will make easier increase of credit credit limit, and it could help to get higher limit credit card and higher limit loans next time we apply for something, they can see we are capable to use all limit and we are capable to handle it safe, they can see high limit use on report
Really found this video helpful. I have seen wild variations of the closing and due dates on different cards and it can be confusing. I do have auto pay set up for one day prior to the payment due dates which helps.
These videos are appreciated greatly. I indeed follow your tips. Tremendous help. Can you please do a similar video on when to pay charge cards? I just received an Amex Gold card and am new to payment timing on charge cards.
Thank you for the education because I am looking to build my score and this is completely new to me. My question is what if I am able to conveniently keep my credit utilisation below 10%? Isn’t it okay to just pay that off after it is reported to the credit reporting bureaus which is anytime before the due date?
Absolutely it's okay to pay it off before the due date. The best time to pay your credit card bill is after you get your statement. That way, it's a done deal. This applies to any bill you get. Your bill is due when you receive it. The due date is just the last day you can pay it before you're considered late
I pay off my bill at the end of the month (usually the very last day) in which I accrue the charges. My points apply sooner and I start the new month with a zero balance.
I just got my first credit card my balance is 300 can I just use 10% of my card and just put auto pay and pay it in full every month my utilization is going to be under obviously if I do need to use more I would have to pay it before but that’s the part that gets me confused seen many videos some ppl say to pay at the statement date other before and it’s hella back and forth .
JOE WANTS TO CONTROL IT. WHATS MORE DANGEROUS? THIS WAY YOU CAN WORK IT TO YOUR ADVANTAGE. THIS IS THE BEST EXPLANATION I HAVE SEEN & i WAS JUST CONFIRMING THE INFO I HAD IS CORRECT.
I'd like to know too!😂 Actually, I think it is a private concept; paid for by the big companies, or if you are renting and the landlord requires it during the application process and almost always is paid by the applicant.
My credit card company decreased my credit limit. When they lower the limit that made me go over my credit limit. For example my limit was 3,000 but the company reduced it to 1,500. My balance as under a thousand. This caused a negative credit report for me. What can I do?
One question I have remaining is whether or not it hurts you if you always pay your cards off before the statement. For example, my Target credit card has a low limit on it, so I always pay it off before the statement cuts. But I wonder if that will hurt in the long run because it looks like it always has a $0 balance. Not a huge deal, but I am curious.
If you were to follow this method with all your credit cards every single month, it would put your utilization to zero and eventually most (not all) banks would frown on extending you new/more credit because it appears that you don’t use any that you already have. also, I’ve heard but not confirmed, that even with certain banks you may already have an account with, that they use statement balance history as a measure to make decisions versus your actual spend. Weird right?
Pay your statements and leave $5 left. Then make sure you have autopay turned on, and you are good to go. It will automatically pay the $5 left for you once it’s due.
He's one of the best when it comes to credit score fix/inquiries and collection clearing, He helped me fix my credit to over 800+ with all my hard inquiries and collections all cleared off by him. Contact him and Thank me later.
You're the only one that has explained the due date being right before the closing date but you didn't say when or how would be the best way to pay so it'll help the credit score. Would i pay a payment a week before the due date and then additional payment maybe a week after due date??
You need to call the respective card issuer. And they will let you know what date they report your credit each month. I hope this clears this up for you…At 5:11 he did go over this concept.🧐
One other thing not to overlook is this: Many credit cards will credit your account as soon as you make an online payment, even though it hasn't officially posted because it hasn't cleared the bank the payment is coming from. HOWEVER, some banks won't give you credit for the payment until it actually posts by clearing your payment bank.
Might be a dumb question but what if I just use that 10% of credit limit so like 1,000 limit and I only use 100 and let it get reported then pay it off is that almost the same thing ? Thanks for the informational videos 👍🏻 love them.
That is exactly what he was explaining at the very end of the video. He was explaining to let it get reported, then pay it off before the due date. As long as you do that, you will not be charged interest.
Brother: Thank you for this video 📹! I appreciate it 🙏 Never ever get tired of re explaining especially things as this one because Good teachers Alwats re explain things 😀
Uncletobian, He's one of the best when it comes to credit score fix/inquiries and collection clearing, He helped me fix my credit to over 800+ with all my hard inquiries and collections all cleared off by him. Contact him and Thank me later.
I have an 818 Fico 8 score. I keep my Utilization under 1%. If I don't pay off ALL my balance prior to bill date I get dinged 2- 4 points even for a couple dollars. The problem is I can charge $5000 on one card, but if I pay it off most cards don't report that I used it at all so it dings my score that way. How do I show a small balance and not get penalized for a few dollars.
I guess to keep it simple for the people that might want to keep a carry over balance to the next billing cycle thinking it might boost their credit score. What percent of the accrue balance for the month one should pay too improve your credit score verses the full balance due?
Can you pay off a charge immediately, as soon as it posts to your account? I find that an online payment isn’t immediately available but curious if you can call it in for an ACH payment.
Uncletobian, He's one of the best when it comes to credit score fix/inquiries and collection clearing, He helped me fix my credit to over 800+ with all my hard inquiries and collections all cleared off by him. Contact him and Thank me later.
On Reddit I heard that the max score comes from "All but one" where you can keep a zero balance on all cards except for one. However, I think this video is for beginners and not people who have 5+ cards already. I also think it's ridiculous to put your cards in the freezer! You're supposed to bury them in your back yard. It's called Gardening.
@@ProudMoney it has made a difference for me. I always paid to a few dollars on each card and a few days after reporting to the bureaus, paid off. But got dinged for too many accounts with a balance. Now I let 1 or 2 cards show a few dollars and fico scores went up. They still show card usage if you look at some of the credit reports in activity status, shows active. I use several credit monitoring services that show different things and they don't all show active since each service shows different details that other ones may not. But lenders can see if card is active or not even if showing no reported balance. Date of last payment shows them at least some money was paid on that account, which means it was used at least somewhat recently to have a balance to pay. With the new fico 10 and 10T, they can see the last 24 months and how often there is a balance to pay. If you apply for a card from an issuer that you already have one card from, they can even see what you purchased with that card.
I always keep a few lines of credit that have at least 1-2% utilization and then pay off the next month by the due date. I then keep 1-2% utilization on another line and then pay off the next month. I also always make sure I use my oldest lines of credit at least for two billing cycles to ensure that they are being used and not closed! I learned the hard way when I didn’t use my line of credit through PayPal credit for almost a year and they lowered my credit limit by almost 90%! That damaged my credit score, but I made a purchase and paid it off over three months and I plan on doing that at least twice a year to keep the account active. It’s a game, but once you figure it out, you’re good to go! 😅
How does Apple Card vs Apple installment plan report? I see each a card balance (always under 10% but a balance of barely at 8%. Do i leave a little card use balance to report separately from my installment purchases ?
Xlt video...Question.? if I have 7credit cards should I keep all of them with a low utilization of under 10%..I currently have 3 with balances under 10%and 4 with 0 balance...what's ur opinion on this one.if anything I can get some bubble gum on the 4 cards if necessary??
Uncletobian, He's one of the best when it comes to credit score fix/inquiries and collection clearing, He helped me fix my credit to over 800+ with all my hard inquiries and collections all cleared off by him. Contact him and Thank me later.
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if i leave a balance on my due date ,when do i pay it off in full if the due date has past already, my due date is the 20
also well if iam trying to raise my credit why would you pay it off, that will show you did not use it 0balance, you guys have to explain that if the people want to raise the score the will have to pay interest, now if you dont want to pay interest you need to pay it off in full but you will get no points,
Use the card and pay it down to 0 by every due date, brought me from 542 to a 773
IT MAY BE MORE CLEAR IF YOU SHOWED A CALENDAR FOR 2 MONTHS & CIRCLE PAYMENT DATE/INTEREST AND REPORT DATE.
what he meant is that lets say you have a credit limit of $1,000 and u have a credit utilzation of 30% meaning $300 youre gonna want to pay $200 before the end of the billing cycle meaning before the 'statement due date' so now ur new balance after that statement due date will be $100 and since its a new billing cycle you can pay the $100 off before payment due date which is different! and its in most cases 3-4 days before the statement due date
I am so used to paying my FULL bills (utilities) before the due date. I think this is were my confusion is. Are you saying in your example using my dates, pay $200 by/before May 1 2024 (because you have to pay at least the minimum) which is the due date, and leave 100 to show utilization for end of cycle date May 5 2024? And pay $100 by/before the next due date? I just feel off having a balance forward. I think that maybe the difference in utility billing and credit card billing that I'm not understanding. Thanks so much.
@@LadybugLuv yes, that’s exactly what I explained! But remember depending on your card you’re going to pay interest if you carry any balance, it may not be much if it’s just 100$ but still!
@@axl6670 Thank you so much! This is the first time I actually understand. You have been very helpful! 🤗
I autopay the entire balance on the due date and keep my utilization below 6%. My score is well above 800.
FICO is the one that counts. What's your FICO score?
@@gigi4874-w3w 840
Good for you big timer
What I’m always curious about is that people, even those I personally know, always refer to “one” score. We know there’s more. There isn’t one definitive score. So, if someone were to ask me mine, I’d say the score, which is the average of the three I know.
@Stratos Megas I autopay every month but is always shows up as below 6%. I guess it has to do with when the balance is reported to the credit bureau.
Listen folks, it’s simple. Pay your debts as you agreed to, any date before the due date. Pay all your bills on time every month and your score will be above 700. All the other factors such as credit utilization and age of credits are minor compared to on time payment history.
I have seen this first hand. I kept my cards at a zero balance for months . Then my score went down and they implied that they weren’t seeing usage . I let $10 on a card an my score bounced back to where I was and then some . Keep all zero but one . I rotate the cards that show a balance
Right. I paid my balance in full and dropped 26 points
Making multiple payments throughout the cycle is easiest for me. Do it all from my phone. I have an easy, 15 line, 2 column, Google sheets spreadsheet where I track charges and payments in real time, and also the couple of checks I write monthly, plus when payment clears. I try for 2% or less to post. Plus I pay all bills as soon as they post. I don’t wait for the due date. My scores range from 828 to 850 depending on which one is being used. This is based on the free scores my credit card apps give me.
That was confusing. Or maybe I'm just not grasping it. I wish you could put up an example chart where you can explain it better for dummies like me.
Uncletobian, He's one of the best when it comes to credit score fix/inquiries and collection clearing, He helped me fix my credit to over 800+ with all my hard inquiries and collections all cleared off by him. Contact him and Thank me later.
Thank you. I'm trying to build my credit and this was the EASIEST, MOST CLEAR way that due date and statement dates were explained. Thank you for breaking it down at the end. It made things A LOT clearer to me.
This is phenomenal incite and break down. I actually use this same methodology about 2 years now. I under the first bill two days before the end date. And have my auto pay to pay off the balance by the due date. Thanks. I’ve seen my credit increase from 643 to 769.
Finally!!! Someone explained this point with precision!!!
Multiple payments during the same billing cycle aren't too much of a benefit in most cases because no matter how many payments you make, the credit card company only make 1 report a month to the credit bureaus. The exception that applies to me on that is specific to one card issuer, that being "Chase". On my Chase card, in addition to the normal monthly report, any other payment that takes my balance down to $0 will also be reported. For that reason, I won't use my Chase card to leave to practice the AZEO principle with, but AZEO is a discussion for a different video.
Looking at the comments after watching the video. I do not get why it is so hard to understand? I learned about paying prior to the statement date several years ago. The only part that I was not aware was the 10% or below. I was always told was to be below the 30%.
Diff scoring models weigh utilization rates diff. Rule of thumb is
I pay the bill the day they send the bill. Pay off in full. Credit score is over 800.
I just pay it off a few days before the due date. Score 831
I use to be in the 500s but now have an 843. 1 mortgage and 4 credit cards. I don't wait to pay my cards until the end of the cycle I pay them in full whenever there's a balance showing so i pay multiple times per month. Always keep a 0% credit utilization.
So pay multiple times a day, whenever I get a balance showing? So don’t use it once, let’s say I have. $300 credit limit and get just a pack of gum and pay it by the statement date??? Do they look at what you actually used the card for? I’m stuck in the 500s and cannot get out smh. Advise if you can, PLEASE.
@Sanja Diggs do you have balances on your cards? It takes 1 day or 2 for a transaction to clear. Anyways I just use my CC and treat it like a debit card by paying it off a couple days after I use it that way I don't over spend. I don't buy anything unless I have the funds available in my checking account.
@@Sweetforeignn What? Why would you pay multiple times a day? You have to use the card. You have to buy more than that. Just use the card for a real purchase and pay the bill before the due date.
I watched several videos on this subject and yours is the only one that left me with a sense of clarity. Thank you.
So to summarize what is said, pay right before your due date and right before billing cycle ends?
That's what I got out of this.
@@vital4644_ Bring your utilization to under 30% (better if its less than 10%) but then pay off the entire amount remaining by the due date so you dont pay interesest.
So what your saying is to stay under 10% on each card. I think the best thing is to increase your credit. That tends to bring increase my credit score.
Depending on how much I spend on my cards depends on if I let the balance report on my statement or if I pay them down a few days before the statement date then pay the balance a few days after. I keep my utilization at 3-6% and this practice has worked very well for me since I started rebuilding 6 yrs ago. Thanks for all the great information and I'm sure it's helped a lot of people. This is one of my favorite channels.
Thanks!
Uncletobian, He's one of the best when it comes to credit score fix/inquiries and collection clearing, He helped me fix my credit to over 800+ with all my hard inquiries and collections all cleared off by him. Contact him and Thank me later.
I don't know if it was mentioned, but you should only do this for 1 card. The optimal strategy for maxing your credit score is to have a small balance on one card and have all the rest paid off. For example, if you have 10 credit cards, your credit report should show 0 balance on 9 of them, and then a small balance (9% or under) on the 10th card.
This is really true? I thought as long as the cards were under 10%, it was fine?
GREAT Explanation, I see that my intentions were there by paying OFF my balances as soon as it was visible, but I wasn't really helping myself, because there was nothing to report to the 3 agencies. Darn, well it's not too late to start anew. I am desperately trying to up my credit score and this information is definitely going to help. Thank you.
I'm in the same situation. I put everything on the credit card because it is a citicard Costco visa that gives cash back based on how much you use it. I have no late payments, liens, or anything negative and have a "Good" rating with a score of 710. I was thinking how the heck do people get to 750 or higher! Maybe it is the utilization piece. Definitely worth a try. I already have it on my calendar for 3 days before the billing cycle ends for April...and of course it is on auto pay for "Statement Balance" on the due date.
I pay my credit cards off weekly and it's automated. I can adjust the payment up or down depending,... but it's set to go every week.
Can't build your credit that way, as it commutes that you never use your credit card.
@@pamlatimer4950 I’m not worried about building my credit score as it’s 800 to 850 already.
@@pamlatimer4950 I built up mine from 726 doing that; now 850 Experian, 809 TransUnion and 809 Equifax. I pay about once a week; it isn't automated, but I pay the balance off as soon as my transactions post. As soon as my credit utilization goes over 2%, my score drops, so I keep my balances low.
I'm going for 90 days with 0% utilization (paid off before statement date) to use as a benchmark. Then I'll just exercise each card, let a low balance post, and pay it off the day it posts.
Thanks for clearing that due date and closing statement date up!!! First time it ever made sense to me!!!!
I pay as soon as I get the check to do so. I ain't keeping that money in my account just chilling.
That's s recepie for disaster lol
Wow !! I didn't know this at all
I always paid my credit card bill on the due date I thought that's the right thing to do to build my credit
But now I know that I am gonna start paying my credit card bill just as you said
Thanks for the tips
So you make the regular payment on the due date and then make another payment right before the closing date?
I’m only here to support the channel considering I have nothing I’m going to apply for until August and still my utilization is 1% overall (using $245 of $33,500 limit). What I tell all my buddies and family members is to drill the statement close date for all your cards and treat the day prior to that as the due date to pay 99% of whatever your total balance is and than pay the final 1% the day you get your actual statement and just keep doing that over and over.
Thanks for the support and, yep, go down to 1% or whatever works for your mindset. Like I said, this is not relevant for most cardholders but it is a way to shine up the score if you want every single point.
I do multiple payments on 6 credit cards I keep it at 5% utilization
Uncletobian, He's one of the best when it comes to credit score fix/inquiries and collection clearing, He helped me fix my credit to over 800+ with all my hard inquiries and collections all cleared off by him. Contact him and Thank me later.
2:41 Thank YOU!! I’ve been saying this for years on my channel.. ppl don’t believe me!! Let that 10a% report then pay in full the next day
I always paid 2 or 3 days before the due date. Is that good? Please let me know. Thank you.
Credit companies make this more complex than it needs to be😂😂
I pay down to low utilization of 3% one due date. You don’t have to make two or three or four payments a month just one payment. They report the balance on the close of statement you can look at your statements and look at the end date of the bill that date is your close date. Due date and close of statement dates are different. Close date is when they start to report it to the cras
Very interesting, I have 4 credit cards and I was always told by other channels that it didn’t matter if showed 6-10% utilization on your credit report. I would always pay off my cards, and show 0% utilization. I will try this and see how it will impact my score. Thanks for the info!!!!
One thing I really like about Chase is that when an account is paid off, they report mid-cycle updates to the credit bureaus.
WHAT I HATE ABOUT CHASE IS EVERYTHING
I thought this was a great explanation, but I can see why it may be confusing if someone doesn't have a lot of background knowledge on how credit cards work. Your video lines up with all of the other reputable resources I've been learning from. You showing your billing statement has helped me understand even more. Thank you!
One interesting thing to consider is how some cards handle no or low interest payment plans. For example, Amex has the "Plan It" feature, which lets you split up a large purchase into several payments at a (much lower) fixed fee, instead of carrying that purchase as a normal balance.
The trick is that you have to wait until after your statement closing date to pay your card, otherwise your payment will go towards your "Plan It" balance before being applied to new charges.
Chase had a similar thing with their Amazon Visa. 6, 12, or 18 month no interesting payment plans can't be managed separately. So payments need to be made after your statement posts.
Yes, things like Plan It are like little installment loans within your standard credit card cycle and they do complicate things a little bit.
He's one of the best when it comes to credit score fix/inquiries and collection clearing, He helped me fix my credit to over 800+ with all my hard inquiries and collections all cleared off by him. Contact him and Thank me later.
i wish Adam had discussed examples of people with multiple cards being reported with a small balance in a given month and what to do in that scenario. For example, 1 card only with a $500 CL is easy. But let's say you are using 4 cards and the total CL for all of them is $3000. Is it okay to be showing balances of 2% on each card? Will that help or hurt your score if all 4 cards are reported showing a small balance to the credit bureaus? I mean, utilization would still be total under 10% let's say but every card reports a small balance. Or how about 2 of the 4 report a small balance and 2 report a $0 balance. What happens to your credit score then? I wish Adam had discussed this because I'm sure myself and lots of others would like to know the answer to this.
I’d love to know the answer to this.
This is the absolute best explanation of this strategy that I have read or heard so far. Thanks for posting this video.
When I got my first real unsecured credit card, I didnt realize that my balance only gets reported on the statement closing date, once per month. So with a $300 limit I was only making one small purchase per week, under $60. Then would wait until the purchase posted to my account so that I could pay it off immediately so that i could use the card for one more small purchase the next week or so after the balance cleared. Oh how naive I was 😂 if i knew what I know now i wouldnt have so obsessive about keeping my balance below 30% at all times throughout the month.
Thank you for the video. I understand how to manage my credit better now. I have been paying down all my cards multiple times a month so my wife doesn't think we have too much money, but my balanced usually went to zero. Now I'm going to check the statement dates so I have a balance, which of course, will get paid well before the due date.
Wish this stuff were around when younger. Online scores etc....to think you requested a copy of your credit report and mailed in payments
IT WAS AROUND FOR DECADES
This was the best explanation I’ve seen. Thank you!!
When you have multiple cards with different close dates, your credit is always changing? Or is there one date for all of them
"ABC always be closing"
Soooooo... Why don't you just say how you would pay this particular bill so your credit gets its best point increase. Like , I pay my card on the 14th but leave a 10% balance until just before the closing date I pay it off.
Best way to sum it up right there
Great content! You know your stuff! I learned a lot! Thanks
I’m new to credit but my score is above 700 I studied a lot of video before actually getting a card the best way to pay your card it to pay it off in full before the due date and the day after just make a small payment $5 or less.
Idk but my cards never report the statement balance . All my cards report 25days before the due date . For example, I have a card that has the due date on the 28th of the month & every month it reports to the CBs on the 3rd . Statement ends on the 30th . With another card , it’s due on the 10th , so they report either on the 15th or 16th depending on the month . It’s like that with all my cards so I just subtract 25 days from the due date to find out when it’s going to report .
This actually makes more sense than what the author was saying. Basically, pay the NEXT month within 5 days after the previous month’s due date (or 8 days after the statement/billing date), and it will have the best effect on your credit, right? I will try it this month, then check the balances reported. Thanks!
- Is it really under 10% or
under 1% for a better score? I have heard of some stating 1% for maximum credit scores.
- Credit reports sometimes have "highest balance" posted so, if almost maxing out a card and paying it down to under 10% prior to the closing date, is this still bad in the eyes of the issuing Bank or to other possible credit card banks if they see a past "high balance?"
Recently got a student credit card, £500 credit limit, I use it like normal, then make sure my utilization is under 10% before statement. Then just pay the rest off well before the Direct Debit. Hopefully ill see my credit score rise within the next few months
Did it go up ? What day did you find out they reported it to the 3 credit places ?
@@envypex7524 Yes after two months it started to go up slowly but surely. HSBC report to credit agencies on the statement day (17th in my case) so as long as you have paid off some of your balance to get to a healthy utilisation by then you’ll be absolutely fine. They report to transunion and Experian. I haven’t checked equifax yet
@@envypex7524 slowly after 2 months. They report every statement month. So I just pay my credit card early and have like 10% utilisation by statement date.
@@anaymakan6989did your credit limit raise?
The way that I do it is I always pay my card down as soon as it goes over 10%, not the entire balance but enough so is around 5% let it run again to 10% and repeat on till the billing psyche ends and that day I pay it all if full, then I repeat the proses. Doing it this way I always report around 8 and 10% utilisation.
Yep!
Uncletobian, He's one of the best when it comes to credit score fix/inquiries and collection clearing, He helped me fix my credit to over 800+ with all my hard inquiries and collections all cleared off by him. Contact him and Thank me later.
I think you need to say this:
Your monthly zero interest charged "grace period" is a privilege that must be earned each month by making a payment at least equal to the last statement balance.
If in any month your total payments are less than the last statement balance, on most credit cards you will lose your zero interest grace period for a full TWO MONTHS. And it can only be earned again by having TWO CONSECUTIVE MONTHS where you pay at least the full statement balance.
That's the statement balance, not the current running balance that you must pay to keep that zero interest privilege.
you are doing an amazing job. keep it up I understand you clearly
This is the video I’ve been looking for. Straight to the point, where I understand. Thanks
Sir, great video. I appreciate the breakdown of when to pay and at what balance to have when closing happens. I've been making a purchase and then paying it off immediately. Always having a 0 balance at closing. I'll now leave 9ish% on the card. Cheers!
This is a great strategy for some extra CR score points! I didn't know it was 1o% of your total balance was the "good" zone. I only did this strategy for large purchases before, to bring my balance down ASAP, so it doesn't ping my CR score.
I maxed out my credit cards and just started paying the credit card with the less amount and min pay on the higher score first month my credit score went up 50 points.
You said a lot… fast💨
I had to keep rewinding when you were explaining the “due date vs the closing date.” I followed you closely, but for someone looking for a quick answer? They may get lost in the sauce.😂😂
Thank you for the useful info.
THANK YOU PROUD MONEY!! Have been looking for this exact info but couldn't find what i was looking for until i saw this video. Thank you for helping me build stronger financial literacy. Statement closing date and due date, in addition to under 10% utilization -is what i couldn't wrap my mind around until your video here. Thanks again!!
How about just pay before due date so your not late payment
Mar 15 to April 14 is due on may 8. and you should pay at least minimum due or better the whole balance so you dont give your hard earned money to the bank( for not interest) and the report to bureau on the closing date THE BEST WAY OF USING CREDIT CARDS IS AS DEBIT
Okay I just found this video for the first time and I had to look at my billing cycle. On my credit card My billing cycle if 2/7 to 3/7. My payment due date is on April 4. Credit card company report to the credit bureau on the 7 of each month. In order to increase my credit score I will need to pay March 6 and again on April 4. Is this correct?
wouldnt it be better to pay off the entire balance before the Repot date instead of paying 90% before and 10% after the repot? that doesnt make sense to me... wouldnt you want it to report as having 0% utilization ? im so confused
He answers that around 10:00. If you pay it off completely before report date, it looks like you didn't use it because they see the $0 balance. If you pay it off down to just 10%, then they see you are using it some (though not too much) which is what they are looking for. This is only if you want to maximize your credit score for the purposes of getting a better loan rate. if you are at a decent score and not looking to take on big purchase financing anytime soon, then don't worry about it and just pay it all off
FYI. Banks and lenders can still see your purchase any for each month.
What time of day should you pay the billing cycle, ex 300 PM, 5 pm.
well if iam trying to raise my credit why would you pay it off, that will show you did not use it 0balance, you guys have to explain that if the people want to raise the score the will have to pay interest, now if you dont want to pay interest you need to pay it off in full but you will get no points,
Best video I've seen explaining when and how to pay. It's not super complicated like every other video makes it seem. Thank you!
Thanks! It's not complicated but it often causes confusion no matter how I explain it! 🙂
I actually believe and understand everything you said in your video about paying part of the balance to bring it below the 10% mark and then pay the rest off after the new billing cycle starts. But that would be a hassle for me because I have so many credit cards including Discover to American Express a host of Mastercard and Visa‘s Home Depot Lowe’s Sam’s Club and some department stores and a shell Mastercard. Lol it would just be too confusing for me to do that for these cards so I just pay the balance off in full With a few strokes from my cell phone after the charges post to the cards. It’s simpler for me that way. And it doesn’t seem to be hurting my score since it’s 801 now.
This method only matters if your balance is MORE THAN 10% of your credit line on the card. Be sure you even have this issue to fix; you may not be broken🧐
Should we max out card at least once and let it report and payoff after they report to credit bureaus, I heard it will make easier increase of credit credit limit, and it could help to get higher limit credit card and higher limit loans next time we apply for something, they can see we are capable to use all limit and we are capable to handle it safe, they can see high limit use on report
Directly to the point. Thanks
Thank you, I understood it perfectly. I guess people confuse the billing cycle with the Statement Closing Date.
Yep the terminology does trip people up!
Really found this video helpful. I have seen wild variations of the closing and due dates on different cards and it can be confusing. I do have auto pay set up for one day prior to the payment due dates which helps.
These videos are appreciated greatly. I indeed follow your tips. Tremendous help.
Can you please do a similar video on when to pay charge cards?
I just received an Amex Gold card and am new to payment timing on charge cards.
Put it on a calendar to show the dates. Your bill said, you should pay a grand on April 20th and pay it off before May 15th, right?
Thank you for the education because I am looking to build my score and this is completely new to me. My question is what if I am able to conveniently keep my credit utilisation below 10%? Isn’t it okay to just pay that off after it is reported to the credit reporting bureaus which is anytime before the due date?
Absolutely it's okay to pay it off before the due date. The best time to pay your credit card bill is after you get your statement. That way, it's a done deal. This applies to any bill you get. Your bill is due when you receive it. The due date is just the last day you can pay it before you're considered late
Thanks guys
I pay off my bill at the end of the month (usually the very last day) in which I accrue the charges. My points apply sooner and I start the new month with a zero balance.
I just got my first credit card my balance is 300 can I just use 10% of my card and just put auto pay and pay it in full every month my utilization is going to be under obviously if I do need to use more I would have to pay it before but that’s the part that gets me confused seen many videos some ppl say to pay at the statement date other before and it’s hella back and forth .
Its ridiculous that anyone has to go threw this. Who gave the CRAs permission to keep a score on anybody?
JOE WANTS TO CONTROL IT. WHATS MORE DANGEROUS? THIS WAY YOU CAN WORK IT TO YOUR ADVANTAGE. THIS IS THE BEST EXPLANATION I HAVE SEEN & i WAS JUST CONFIRMING THE INFO I HAD IS CORRECT.
I'd like to know too!😂 Actually, I think it is a private concept; paid for by the big companies, or if you are renting and the landlord requires it during the application process and almost always is paid by the applicant.
My credit card company decreased my credit limit. When they lower the limit that made me go over my credit limit. For example my limit was 3,000 but the company reduced it to 1,500. My balance as under a thousand. This caused a negative credit report for me. What can I do?
Pay down your balance as fast as possible.
This was done to me too. So I got approved for a low interest balance transfer and paid it off.
CARD COMPANIES WILL BE DOING THAT NOW WITH THE ECONOMY. THEY ALSO HAVE BEEN INCREASING THE INTEREST
One question I have remaining is whether or not it hurts you if you always pay your cards off before the statement. For example, my Target credit card has a low limit on it, so I always pay it off before the statement cuts. But I wonder if that will hurt in the long run because it looks like it always has a $0 balance. Not a huge deal, but I am curious.
If you were to follow this method with all your credit cards every single month, it would put your utilization to zero and eventually most (not all) banks would frown on extending you new/more credit because it appears that you don’t use any that you already have. also, I’ve heard but not confirmed, that even with certain banks you may already have an account with, that they use statement balance history as a measure to make decisions versus your actual spend. Weird right?
Pay your statements and leave $5 left. Then make sure you have autopay turned on, and you are good to go. It will automatically pay the $5 left for you once it’s due.
He's one of the best when it comes to credit score fix/inquiries and collection clearing, He helped me fix my credit to over 800+ with all my hard inquiries and collections all cleared off by him. Contact him and Thank me later.
Should include an example with specific day to pay the bill
SHOULD SHOW A 2 MONTH CALENDAR
HE SAID THAT
You're the only one that has explained the due date being right before the closing date but you didn't say when or how would be the best way to pay so it'll help the credit score. Would i pay a payment a week before the due date and then additional payment maybe a week after due date??
You need to call the respective card issuer. And they will let you know what date they report your credit each month. I hope this clears this up for you…At 5:11 he did go over this concept.🧐
Best explanation ever👍🏼
One other thing not to overlook is this:
Many credit cards will credit your account as soon as you make an online payment, even though it hasn't officially posted because it hasn't cleared the bank the payment is coming from.
HOWEVER, some banks won't give you credit for the payment until it actually posts by clearing your payment bank.
Might be a dumb question but what if I just use that 10% of credit limit so like 1,000 limit and I only use 100 and let it get reported then pay it off is that almost the same thing ? Thanks for the informational videos 👍🏻 love them.
That is exactly what he was explaining at the very end of the video. He was explaining to let it get reported, then pay it off before the due date. As long as you do that, you will not be charged interest.
Way too much explanation without explanation....
Gotta be Einstein to understand and follow all these rules
Brother: Thank you for this video 📹! I appreciate it 🙏 Never ever get tired of re explaining especially things as this one because Good teachers Alwats re explain things 😀
Uncletobian, He's one of the best when it comes to credit score fix/inquiries and collection clearing, He helped me fix my credit to over 800+ with all my hard inquiries and collections all cleared off by him. Contact him and Thank me later.
I have an 818 Fico 8 score. I keep my Utilization under 1%. If I don't pay off ALL my balance prior to bill date I get dinged 2- 4 points even for a couple dollars. The problem is I can charge $5000 on one card, but if I pay it off most cards don't report that I used it at all so it dings my score that way. How do I show a small balance and not get penalized for a few dollars.
I guess to keep it simple for the people that might want to keep a carry over balance to the next billing cycle thinking it might boost their credit score. What percent of the accrue balance for the month one should pay too improve your credit score verses the full balance due?
Good explanation. Can't wait to try it in April and see if it works!
Can you pay off a charge immediately, as soon as it posts to your account? I find that an online payment isn’t immediately available but curious if you can call it in for an ACH payment.
Thanks for the advice. Shall I apply this method to one card and pay off the rest or do it to all my cards?
Uncletobian, He's one of the best when it comes to credit score fix/inquiries and collection clearing, He helped me fix my credit to over 800+ with all my hard inquiries and collections all cleared off by him. Contact him and Thank me later.
On Reddit I heard that the max score comes from "All but one" where you can keep a zero balance on all cards except for one. However, I think this video is for beginners and not people who have 5+ cards already. I also think it's ridiculous to put your cards in the freezer! You're supposed to bury them in your back yard. It's called Gardening.
Yes I have talked about that AZEO method before, not sure I believe it makes much difference but some people swear it does.
@@ProudMoney it has made a difference for me. I always paid to a few dollars on each card and a few days after reporting to the bureaus, paid off. But got dinged for too many accounts with a balance. Now I let 1 or 2 cards show a few dollars and fico scores went up. They still show card usage if you look at some of the credit reports in activity status, shows active. I use several credit monitoring services that show different things and they don't all show active since each service shows different details that other ones may not. But lenders can see if card is active or not even if showing no reported balance. Date of last payment shows them at least some money was paid on that account, which means it was used at least somewhat recently to have a balance to pay. With the new fico 10 and 10T, they can see the last 24 months and how often there is a balance to pay. If you apply for a card from an issuer that you already have one card from, they can even see what you purchased with that card.
I always keep a few lines of credit that have at least 1-2% utilization and then pay off the next month by the due date. I then keep 1-2% utilization on another line and then pay off the next month. I also always make sure I use my oldest lines of credit at least for two billing cycles to ensure that they are being used and not closed! I learned the hard way when I didn’t use my line of credit through PayPal credit for almost a year and they lowered my credit limit by almost 90%! That damaged my credit score, but I made a purchase and paid it off over three months and I plan on doing that at least twice a year to keep the account active. It’s a game, but once you figure it out, you’re good to go! 😅
Umm a majority of Americans will not be able to afford a $1000 payment .
It's based on your own credit limit. If your card's limit is $5,000, then you need to get your utilization down to $500/10% on your credit card.
THATS BC THEY ARE MAXED OUT
I keep mine at 3 percent all year long and I don't get ish. I promise you, I probably get 5 point per year.
Quite confusing to me? I just paid the due date!!!
@@marylawrence7234 ? How can you pay a due date?
You actually need to use the card.
@@Michelle-pn9xt I use the card.......I just pay the dues before the due dates. I use it and two weeks later I pay the balance.
Nice simple explanation
How does Apple Card vs Apple installment plan report? I see each a card balance (always under 10% but a balance of barely at 8%. Do i leave a little card use balance to report separately from my installment purchases ?
Xlt video...Question.? if I have 7credit cards should I keep all of them with a low utilization of under 10%..I currently have 3 with balances under 10%and 4 with 0 balance...what's ur opinion on this one.if anything I can get some bubble gum on the 4 cards if necessary??
Uncletobian, He's one of the best when it comes to credit score fix/inquiries and collection clearing, He helped me fix my credit to over 800+ with all my hard inquiries and collections all cleared off by him. Contact him and Thank me later.
Good question
What if you never let it get above 10%. Do you just pay on the due date only?
From my understanding, yes.