cancel
Showing results for 
Search instead for 
Did you mean: 

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

Valued Member

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

I have a few credit cards. My due dates are on the 20th. I pay in full every month but on my credit report always show the balance I had b4 the payment. When do I pay balance exacty so it shows as $0 to the credit bureaus?


Should I keep a small balance? My credit limits are $500, $500 & $250.


Thanks!


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

Take the FICO Fitness Challenge
Message 1 of 15
14 REPLIES
Senior Contributor

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

Keeping a balance only costs you money, does not help credit in any way.  

 

 

Message 2 of 15
Valued Member

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

I don't keep the balance, I just think I pay it off too early and use it again and when the time comes for the credit company to report, they report the balance. 


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

Take the FICO Fitness Challenge
Message 3 of 15
Senior Contributor

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

Most report at statement closing or end of month. Pay before then.   Who are the banks? 

 

 

 

Message 4 of 15
Valued Contributor

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


Lovelygal31 wrote:

I have a few credit cards. My due dates are on the 20th. I pay in full every month but on my credit report always show the balance I had b4 the payment. When do I pay balance exacty so it shows as $0 to the credit bureaus?


Should I keep a small balance? My credit limits are $500, $500 & $250.


Thanks!


I pays mine at least five business day before it's closing date, not due date.  Therefore, it will be ZERO balance on the report.

If you want to get your balance reported, yes.   Just one of $500 CL with small amount, and make sure PIF before Due Date.  This is very Important!!

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
It's very tough with small income ~ The Rewards are big little helper to me.
Message 5 of 15
Valued Member

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

How do I know when the closing date is??

 

I have a Kays, First Premier & Public Savings Secured.


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

Take the FICO Fitness Challenge
Message 6 of 15
Valued Contributor

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


Lovelygal31 wrote:

How do I know when the closing date is??

 

I have a Kays, First Premier & Public Savings Secured.


Do you have a monthly statement?   It should have next closing date printed on somewhere.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
It's very tough with small income ~ The Rewards are big little helper to me.
Message 7 of 15
Moderator Emeritus

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

 


Lovelygal31 wrote:

I have a few credit cards. My due dates are on the 20th. I pay in full every month but on my credit report always show the balance I had b4 the payment. When do I pay balance exacty so it shows as $0 to the credit bureaus?


Should I keep a small balance? My credit limits are $500, $500 & $250.


Thanks!


 

 

Whatever the balance that shows when your statement posts is what will be reported on your credit file. Time the payments just right and you'll never show any balance although it seems FICO does not like to see all zero balances because it looks like you are not using your cards. Try to have less than half your cards show a balance of 1-9% each month and then PIF before the due date to avoid any finance charges. Any remaining accounts try to PIF before the statements post so they always show a zero balance.

 

With your 3 cards I'd let just one show a balance each month.

 

 

From a BK years ago to:
8/09 TU-765 EQ- 783
9/09 EX pulled by lender 802
3/10 EQ- 800

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Credit Problems Which Is Worse?
Whats In Your FICO Score

Message 8 of 15
Regular Contributor

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


Lovelygal31 wrote:

I have a few credit cards. My due dates are on the 20th. I pay in full every month but on my credit report always show the balance I had b4 the payment. When do I pay balance exacty so it shows as $0 to the credit bureaus?


Should I keep a small balance? My credit limits are $500, $500 & $250.


Thanks!


it sounds like you have a credit monitoring service.  that's great.  (if you don't have one, it will be invaluable).  you don't explain when you make the payment, though.  do you make it exactly on the due date?   do you make your due date payment, then pay additional amounts later?  do you pay in full (and not use the card after) before the due date?
use your credit monitoring service as your guide, not what anyone else says.  if you want it to report a zero balance, but the date you're  paying is always after the amount reports to the credit bureaus, then pay before your billing due date and don't use the card again until after your statement cuts.
what are the dates on your credit monitoring service reports that your cards actually show 'reporting on'?  for example, if your due date is February 20th, but your credit card reports balances to the credit bureaus like clockwork on February 16th, then pay by February 14th.  observe.  rinse and repeat the next month.   observe.  rinse and repeat the followng month after that.  use notepad (or excel) to keep track and notice patterns.  
once you know your cards' specific patterns, then you'll be able to play with reporting.

for myself, i've found that (for whatever reason) my credit cards always report to the credit bureaus either on the day the statement cuts, or a day before (rarely) or two days after.  but mostly, its the day the statement cuts, which is anywhere from 3 days (goodbye Chase Wamu)  to 7 days after my due date.  but that's not going to be your pattern, or anyone else's.   keep track of your own patterns and card rhythms.   have fun Smiley Happy

Message 9 of 15
Valued Contributor

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


marinevietvet wrote:

 

Whatever the balance that shows when your statement posts is what will be reported on your credit file. Time the payments just right and you'll never show any balance although it seems FICO does not like to see all zero balances because it looks like you are not using your cards. Try to have less than half your cards show a balance of 1-9% each month and then PIF before the due date to avoid any finance charges. Any remaining accounts try to PIF before the statements post so they always show a zero balance.

 

With your 3 cards I'd let just one show a balance each month.

 


I agree.   That is what I am doing on my three ccs out of eight ccs.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
It's very tough with small income ~ The Rewards are big little helper to me.
Message 10 of 15