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Posting Dates and Due Dates

Established Contributor

Posting Dates and Due Dates

Can someone explain to me about closing dates and due dates on card.  Is the due date the date the CCC's will report your payment to the CRA's?  How do I beat the CCC in posting the payment if I have high utilization and want to get another payment in before it hits the bureau?  How do I know the date that they send it in?
 
 
 
 
Message 1 of 4
3 REPLIES
Regular Contributor

Re: Posting Dates and Due Dates

BOA gives me my statement balance at roughtly 20th or 22nd of the month. So if I want to show lower util I pay off till whatever levels (say $200) I want it to be at before the 20th. That way it reports I'm using just $200.
 
Due date is the date by which you have to make the minimum payment.. If you are late I guess the late payments (30 day late, 60 day late, etc) columns in your credit report start ticking.
Message 2 of 4
Moderator Emeritus

Re: Posting Dates and Due Dates

Hiya MY,
 
Take my discover
 
Due date   8/17
Closing date   8/27
 
I must pay by 8/17  or will be late
I can pay again before 8/27  Discover will report on all activity after 8/27
 
If I want my util down, I will make min. pmt by 8/17 and then another amount before 8/27
 
!0,000    after min. pmt. of $200    bal. 9900                    this is all aprox.
another pmt 8/26   $200                bal,9700   this is what is reported to CRA as bal.
Message 3 of 4
Established Contributor

Re: Posting Dates and Due Dates

Got it ya'll..   Thanks, seems like we have to play a game with Myfico... 
Message 4 of 4