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

Valued Contributor

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
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Message 11 of 15
Valued Member

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!


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Message 12 of 15
Valued Contributor

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
Message 13 of 15
Senior Contributor

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

Public Savings Bank reports right after closing date.

Message 14 of 15
Valued Contributor

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.

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Message 15 of 15