Credit Cards Center Credit cards from our partners
Reply
Valued Contributor
Posts: 1,278
Registered: ‎06-01-2007
0

Re: When to pay off CC balance in order for it to report as $0 balance ???

Look at the statement clsoing date as thats what all creditors wil report to the bureaus. You usually can request a statement clsoing date change as well, which I did on all of my accounts so I never need to wonder which ones close on which dates.

Try not to become a man of success but rather to become a man of value
Albert Einstein 1879 - 1955

700 Club
Valued Member
Posts: 33
Registered: ‎02-24-2010
0

Re: When to pay off CC balance in order for it to report as $0 balance ???

Thank you. On one of my cards I looked online and my due date is 4/20 but statement closing date is after that on 4/24. So if I pay in full b4 the due date and don't use the card, it will report as $0 balance correct? 

 

If I keep a $0 balance will they stop reporting?? =/.

 

Thanks for your help everyone!


Current Score: TU 633
Goal Score: EQ 720 TU 720 EX 720

Take the FICO Fitness Challenge
Valued Contributor
Posts: 1,278
Registered: ‎06-01-2007
0

Re: When to pay off CC balance in order for it to report as $0 balance ???

Some companies do in fact NOT report $0 balances. I try to keep a balance on all accounts, less than 3% of each accounts total. I get nervous if I dont carry any balance they will close ym account or shrink my CL. 

Try not to become a man of success but rather to become a man of value
Albert Einstein 1879 - 1955

700 Club
Senior Contributor
Posts: 3,197
Registered: ‎01-24-2010
0

Re: When to pay off CC balance in order for it to report as $0 balance ???

Public Savings Bank reports right after closing date.

Highlighted
Valued Contributor
Posts: 1,413
Registered: ‎01-20-2008
0

Re: When to pay off CC balance in order for it to report as $0 balance ???


Lovelygal31 wrote:

Thank you. On one of my cards I looked online and my due date is 4/20 but statement closing date is after that on 4/24. So if I pay in full b4 the due date and don't use the card, it will report as $0 balance correct? 

 

If I keep a $0 balance will they stop reporting?? =/.

 

Thanks for your help everyone!


This mean is your statement shows your account activities you made between after last closing date (03/23?)  ~ 04/24.

This due date is for the balance shows on your previous statement dated 03/24.   So, make sure PIF before 04/20.

Just for this month only ... if you PIF on 04/20 all charges you made until 04/19 include previous statement balance  .... then ... Yes, you are right!!  Smiley Wink   After you made a payment, leave that card at your home until 04/25, then use it again.

No, they don't as long as you keep using that card at least one small charges/month or so.  Your CR will shows $0 balance always.

 

Q:  How do you make a payment ?  Credit card online acct?  or online bank acct?  or old fashioned by via us-mail?

When you make a payment at online acct, double check the Posting / Payment / Delivery  date.   Make sure that date is before the due date/closing date. 

* Be careful when the due date and closing date falls in to the weekends and holidays!!   Always plan ahead !!!!

 

It is very important to keep up on those date.  

Let's say ...  card 1. $300  /   card 2. $500  /  card 3. $500  and carry the small balance of up to $100 every month.

PIF the amount you charged  before the closing date on card 1 and card 2.    Then you will have $0 balance on your report.  

* After you made a payments, leave these cards at your home until pass the closing date.

* Be careful, some of stores/places claim the charge to the credit company late, and it ended-up carry the balance.  So, stop using the card 1. and card 2 about  a week before the closing date is the best.

PIF the previous statement balance before the due date on card 3.

PIF the amount exceed the $100  before the closing date on card 3 keep the balance and util low.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
It's very tough with small income ~ The Rewards are big little helper to me.
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.