Question regarding PIF/reporting

[pizzadude]

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@Anonymous wrote:

I'm a little confused. How do I find out the statement date? I only see due dates.

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Look at your statement, there should be a "statement end date" or statement period that lists the start and end dates for the statement.

[DesertLife]

Just wanting to clarify:

Many are advising to keep utilization down to under 10% to maximize FICO score. If one wanted to ensure they did not get hit with interest on purchases they would want to pay DOWN the card before the closing date and then off completely after the closing date, is that correct?

i.e.

1. Spend $500 on card with $1,000 limit.

2. Pay down card to $5 on July 12

2. Closing Date of July 13

3. Pay off card to $0 on July 14

It seems tedious. Is there a way to benefit from having the card show between 1-9% utilization if you've spent more on the card throughout the month but still not get hit with the interest charges?

On a similar but side note. I called USAA about the reporting date for my AMEX rewards. They said they do not know and even after talking with a supervisor said they don't know and couldn't tell me if they did know. My closing dates fluctuate so there seems to be no way for me to predict the date, other than it comes around the middle of the month. Several times the closing date coincides with that month's closing date the previous year (i.e., 3/15/11 & 3/15/12) but not always (i.e., 4/14/11 & 4/13/12). The days of the week seem random too.

Either way, most of the time it's the 14th or 15th.

USAA Rewards Amex

Closing Dates:

3/15/11 (TUES)

4/14/11 (THURS)

5/15/11 (SUN)

6/14/11 (TUES)

7/15/11 (FRI)

8/15/11 (MON)

9/14/11 (WED)

10/14/11 (FRI)

11/14/11 (MON)

12/15/11 (THURS)

1/15/12 (SUN)

2/13/12 (MON)

3/15/12 (THURS)

4/13/12 (FRI)

5/15/12 (TUES)

6/14/12 (THURS)

[DaveSignal]

Heres how I do it:

I have one high-limit card that I use all the time that I use to leave a balance on (it is less than 10% without much effort).  I don't really have to worry about this one.

All of my other cards I PIF before the statement date.  The statement then comes out with $0 balance and $0 payment due.  Therefore, I do not pay any interest and I do not have to pay again until just before the next statement date.