I'm new to this forum. Reading about credit cards made me wonder...
I thought my husband and I were doing the right thing by paying our cards off every month. We waited until we had the statements, and then paid off the entire balances. We use the cards because we get travel credits, which amount to a couple of thousand dollars each year for us.
By paying in this way, however, we probably show pretty high utilization, even though we don't carry open balances. Should we be paying them off before the statements are generated?
It's tough to try to do this all correctly in order to enhance our FICO scores. Thanks for any advice you can give me on the best timing of paying off monthly balances.
Thanks for your response...but I have one question...
You recommend paying off all but one card before the statement date. What is the reason for leaving one until the statement generates?