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Established Member
Posts: 24
Registered: ‎05-09-2010
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Statement Question For U.S. Bank??

I have an U.S. bank secured credit card. Balance is 0, My dude date is June 9, and then I received a email of the future statement dates. The statement date is June 14, 2010.

 

Now how do I work this where it atleast shows a balance of 30.00(or less probably) on my Credit Card for myfico scores. That's what I'm trying to improve. The Credit Card Limit is 300.00 so I'm think 25.00 is aorunf 8% - 9% Utilization as the balance?? but with the statement date after my due date, I don't understand whether after I pay it off I go ahead and place a  20 $ purchase on it before the statement date cuts or what???

 

Just need some guidance thanks in advance

Valued Contributor
Posts: 2,708
Registered: ‎10-16-2008
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Re: Statement Question For U.S. Bank??

[ Edited ]

Hi, I-turner!

 

I wouldn't worry so much about that 8-9% thing.  Some of these score tweaks are for FICO fanatics (like me! :smileyhappy:) and aren't really critical for most folks.  Don't spend money you don't want to spend just to keep a balance on that card.

 

Just be absolutely certain to make your payments on time, and in full if possible.  As long as the statement balance is paid in full on or before the due date, you'll never have to pay interest, and you'll have good history on that card. 

 

If you've made purchases since your last statement period ended, you don't have to pay those charges until they appear on your next statement. 

 

Does your statement balance match your current balance  right now?    Whoops, I see now that your current balance is $0.  You have no worries, just use your card for the things you can afford and make your payments on time.  You'll be just fine!

 

 

P.S.  I didn't answer your question at all, did I?  Sorry, I've been up since about 2 A.M. yesterday...think I'll take a short nap now...

 

 

 

 

Moderator
Posts: 15,076
Registered: ‎07-14-2009
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Re: Statement Question For U.S. Bank??

[ Edited ]

 


l-turner wrote:

I have an U.S. bank secured credit card. Balance is 0, My dude date is June 9, and then I received a email of the future statement dates. The statement date is June 14, 2010. That means your next due date will be around July 9, 2010. You can use your card during the month but make sure whatever utilization you want to show is on the monthly statement which will post on June 14, 2010. That utilization is what is used for scoring.

 

Then pay in full before the next due date (in this case July 9) to avoid finance charges. Every month thereafter do the same thing. With the new laws you'll have 25 days between the statement date and the due date each month.

 

Now how do I work this where it atleast shows a balance of 30.00(or less probably) on my Credit Card for myfico scores. That's what I'm trying to improve. The Credit Card Limit is 300.00 so I'm think 25.00 is aorunf 8% - 9% Utilization as the balance?? but with the statement date after my due date, I don't understand whether after I pay it off I go ahead and place a  20 $ purchase on it before the statement date cuts or what???

 

Just need some guidance thanks in advance


ETA: I made an error when I said  With the new laws you'll have 25 days between the statement date and the due date each month.

 

What I should have said is the statements must be mailed at least 21 days ahead of the due date. I apologize for that huge mistake.

 

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

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