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Valued Contributor
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Registered: ‎11-17-2012
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How many days do YOU PIF before statement cut?

Hey guys! So I think I'm going to play around with the whole "one card reports small utilization" to see if this will result in a rise in my scores next month! :smileyvery-happy: the question of the night is: when do YOU PIF on the cards you don't want to report?? What is the recommended time frame to PIF before statement cut if I only want to make one payment a month to my CC? Any companies do an odd reporting, like mid-statement? Feel free to input your personal experiences based on my cards and their affiliate companies, or any other companies you have! Think I'll just have the small utilization report on my JCPenney!

Capital One Quicksilver World Mastercard $20k | JCPenney Gold $10k | Shell Drive for Five $800 | Chase Freedom Visa Signature $9.8k | TD Bank Easy Rewards Visa Signature $5k | Chase Sapphire Visa Signature $10k | American Express Blue Sky $13.7k | Discover IT $9.5k | SavingStar American Express $14.8k | American Express BCE $11.3k

FICOS: EX 764 EQ 704 TU 750 VantageScore 3.0: EX 745 EQ 753 TU 753 Credit Sesame (EX) 749 Credit.com (EX) 788
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Re: How many days do YOU PIF before statement cut?

I tend to pay mid-cycle and then just PIF after the statement cuts, so only half of my actual spending reports.

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Valued Contributor
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Re: How many days do YOU PIF before statement cut?

3-4 days before the statement cuts so I know it will report $0


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Valued Contributor
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Re: How many days do YOU PIF before statement cut?

i make sure to pay by due date and then dont spend anything until a statement is put up. 

 

for example my chase freedom is due 12/7 i pif on that day and then dont use it for a few days (usually the 10th) and then use it whenever. i use another card for the time being 

my balance due is always 0 since i pay in full so if for whatever reason i forget to pay it no hard since they are all new charges. 

Current: Discover Fico 701 3/15 Walmart Fico 684 1/15

Inquiries (24 Months): EQ 5 TU 1 EX 1 | Most Recent: 03/23/2015
Over 12 Months:6


2014 Goals:
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15% right now, but going up soon :smileysad:
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Re: How many days do YOU PIF before statement cut?


daybreakgonesXe wrote:

I only want to make one payment a month to my CC


If you make only one payment/month, then you should pay your current account balance (which should be more than your last statement balance) by the due date AND stop using the card until the next statement date. That will result in a zero balance on your next statement.

 

If you make payments on the credit card company's website via checking account debit, you can schedule a payment 1 day before the due date. The payment will be on time and the payment will be posted before the next statement.


11/02/2012 Peak - EQ 790 (ScoreWatch EQ FICO)
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Valued Contributor
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Re: How many days do YOU PIF before statement cut?


brother7 wrote:

daybreakgonesXe wrote:

I only want to make one payment a month to my CC


If you make only one payment/month, then you should pay your current account balance (which should be more than your last statement balance) by the due date AND stop using the card until the next statement date. That will result in a zero balance on your next statement.

 

If you make payments on the credit card company's website via checking account debit, you can schedule a payment 1 day before the due date. The payment will be on time and the payment will be posted before the next statement.


Great advice! :smileyvery-happy: I just checked my Equifax report to see when each company reports each account and marked it down in my calendar. But I agree, paying a day or two before the due date on both my statement and current balances will result in the $0 reporting for the next month as long as I don't spend between the due date and statement cut, and then from there it's always the current account balance to keep at it. I'm sure after a couple go-rounds I'll have it down to a science! Now, it's just a waiting game for my free annual report to see when Transunion and Experian receive information from my CC companies...

Capital One Quicksilver World Mastercard $20k | JCPenney Gold $10k | Shell Drive for Five $800 | Chase Freedom Visa Signature $9.8k | TD Bank Easy Rewards Visa Signature $5k | Chase Sapphire Visa Signature $10k | American Express Blue Sky $13.7k | Discover IT $9.5k | SavingStar American Express $14.8k | American Express BCE $11.3k

FICOS: EX 764 EQ 704 TU 750 VantageScore 3.0: EX 745 EQ 753 TU 753 Credit Sesame (EX) 749 Credit.com (EX) 788
Valued Contributor
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Registered: ‎07-23-2012
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Re: How many days do YOU PIF before statement cut?


brother7 wrote:

daybreakgonesXe wrote:

I only want to make one payment a month to my CC


If you make only one payment/month, then you should pay your current account balance (which should be more than your last statement balance) by the due date AND stop using the card until the next statement date. That will result in a zero balance on your next statement.

 

If you make payments on the credit card company's website via checking account debit, you can schedule a payment 1 day before the due date. The payment will be on time and the payment will be posted before the next statement.


depends which bank/cu you send it from. 

i have to set it up 3 buisness days ahead of time. 

and do the math if i have any pending charges so there is no surprises. 

Current: Discover Fico 701 3/15 Walmart Fico 684 1/15

Inquiries (24 Months): EQ 5 TU 1 EX 1 | Most Recent: 03/23/2015
Over 12 Months:6


2014 Goals:
Lower Utility
15% right now, but going up soon :smileysad:
Freedom Signature

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$6400
Citi Diamond Preferred$6000
Citizens Mastercard$7000
New Contributor
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Registered: ‎05-21-2012
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Re: How many days do YOU PIF before statement cut?

So does reporting 0% utilization actually help your score? I thought the goal was to report between a small nonzero amount (like 5%)

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Valued Contributor
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Registered: ‎11-17-2012
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Re: How many days do YOU PIF before statement cut?


Joesh wrote:

So does reporting 0% utilization actually help your score? I thought the goal was to report between a small nonzero amount (like 5%)


Not really; you're right, reporting a small nonzero amount is best! I'm just discussing having an overall utilization with just one card reporting, instead of all my cards reporting balances.

Capital One Quicksilver World Mastercard $20k | JCPenney Gold $10k | Shell Drive for Five $800 | Chase Freedom Visa Signature $9.8k | TD Bank Easy Rewards Visa Signature $5k | Chase Sapphire Visa Signature $10k | American Express Blue Sky $13.7k | Discover IT $9.5k | SavingStar American Express $14.8k | American Express BCE $11.3k

FICOS: EX 764 EQ 704 TU 750 VantageScore 3.0: EX 745 EQ 753 TU 753 Credit Sesame (EX) 749 Credit.com (EX) 788
New Contributor
Posts: 50
Registered: ‎05-21-2012
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Re: How many days do YOU PIF before statement cut?


daybreakgonesXe wrote:

Joesh wrote:

So does reporting 0% utilization actually help your score? I thought the goal was to report between a small nonzero amount (like 5%)


Not really; you're right, reporting a small nonzero amount is best! I'm just discussing having an overall utilization with just one card reporting, instead of all my cards reporting balances.


Gotcha, thanks. 2nd question - are you thinking that 0% utilization on all cards and small utilization on one card will result in a higher score?

AMEX BCP : $24.6K | Chase Ink Plus: $12K | Citi Forward : $10K | Citi Dividend : $9.2K | BoA Travel Rewards : 7K
NFL Cash Rewards : $6K | Chase Freedom : $5K | Discover More : $5K

Age: 24 | Occupation: Grad Student | CreditKarma: 762 |
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