Need help on timing

mjccredit · ‎02-08-2014

I can't say enough for all the help and encouragement on this board. I do still need help understanding the timing of payments for optimum scoring. For example I have one ads my new cards that has a statement date of the 11tI. CK says it reports to the CRAs on the 3rd. WheI should I pay ? I'm guessing before the 3rd but how long between payment and reporting- I don't know if it takes a week or 2 days to post and mother cut off for reporting time. Can any help me with this ?

Thanks !

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user5387 · ‎02-08-2014

I believe the rule of thumb is that the balance on the statement date is what is reported. So controlling the balance on the statement date is the big issue, and this is typically done by making a payment just before the statement date.

There are some exceptions, for example CC companies that report at the end of the month.

yudeology101 · ‎02-08-2014

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takeshi74 · ‎02-08-2014

For cards that report on statmeent date (most of them) you need to pay prior to statement close.

Don't rely on CK's "reported" date. Most of mine seem to be a day after statement close but one reported date on CK is 18 days after statement close for one of my cards.

longtimelurker · ‎02-08-2014

Which bank? As others said, some banks (e.g. US Bank) report at the end of the month, which could certainly translate to a CK date of 3rd or so.