Statement date and due date confussion

[shadowwolf62]

 I'm confused about  information I was reading about use your credit card to rase you credit score and how it works and my billing statement is on the 17th of every month due date is alway on the 14th  few days before my statement is from my understanding then it takes  about 2-4 days to be reported to CB.. so what do I need to do to increase my credit score  I keep my Uti low so thats not an issue and I do not keep a balance for the most part..not sure how  to raise the score using my credit card  very confusing any help weould be great  thanks

[nachoslibres]

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@shadowwolf62 wrote:

 I'm confused about  information I was reading about use your credit card to rase you credit score and how it works and my billing statement is on the 17th of every month due date is alway on the 14th  few days before my statement is from my understanding then it takes  about 2-4 days to be reported to CB.. so what do I need to do to increase my credit score  I keep my Uti low so thats not an issue and I do not keep a balance for the most part..not sure how  to raise the score using my credit card  very confusing any help weould be great  thanks

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You would pay down your balance either all the way or at least below 10% of your credit limit by the 17th.  If you aren't keeping much of a balance then it isn't going to really make a difference anyway.

What is bad for FICO scoring is either having all cards report 0 balances or having your cards report very high balances (and of course having all high balances is worse than having no balances).  What most people say is optimal is have all cards but one report 0 balances on the statement closing dates of those cards and have one card report a balance that is 1% of all your total credit lines combined.

[user5387]

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@shadowwolf62 wrote:

 I'm confused about  information I was reading about use your credit card to rase you credit score and how it works and my billing statement is on the 17th of every month due date is alway on the 14th  few days before my statement is from my understanding then it takes  about 2-4 days to be reported to CB.. so what do I need to do to increase my credit score  I keep my Uti low so thats not an issue and I do not keep a balance for the most part..not sure how  to raise the score using my credit card  very confusing any help weould be great  thanks

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To the best of my knowledge, reporting is keyed off of the statement date.

The due date from your previous cycle does happen to be a few days before the statement date for the next cycle, but I'd recommend leaving the due date out of it.

[SnackTrader]

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@shadowwolf62 wrote:

 I'm confused about  information I was reading about use your credit card to rase you credit score and how it works and my billing statement is on the 17th of every month due date is alway on the 14th  few days before my statement is from my understanding then it takes  about 2-4 days to be reported to CB.. so what do I need to do to increase my credit score  I keep my Uti low so thats not an issue and I do not keep a balance for the most part..not sure how  to raise the score using my credit card  very confusing any help weould be great  thanks

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In your example you will want to make ALL required payments by the 14th since that's your due date. But, then you want to make sure the balance on your card on the 17th is as low as possible, preferably only 1% of the credit line. That's the statement date, and that is almost always the amount that is reported to the credit bureaus to generate your score. Keeping the statement balance low is the best way to improve your credit score in the short term. But it can only get you so far, everything else just takes time. 

In summary, always make at least your minimum payments (I like to pay in full) and make sure the statement balance is as low as possible. In time, you will reach 800!

[shadowwolf62]

Thank you for the information