Can someone check this for me? Closing date question on CC

[Anonymous]

Hi y'all.  Ok, very newbie question, but I'm trying so hard to really understand and use all the awesome material found on myfico.

I have 3 CC that I have and pay off the balances each month...but I've been doing it like shooting in the dark.  I want to make sure I understand so I can start maximizing my score.

cc1 - period 4/6-5/5 due date of 6/2

cc2 - period 4/8-5/7 due date of 6/4

cc3 - only says closing date of 4/29 due date of 5/22

So to maximize my score, I want to make sure I have the balances paid the day before the period ends (5/5 or 5/7 or 4/29), correct?  I understand at least one needs to have 1-9% carried to the due date, then paid.  Right?

When is it that you can start charging again for the next period?  A couple days after the closing date or period ends?  (What about charges before the period ends and the due date??  Those go to the next Statement?)

I know it seems repeditive and elementary, but I've never understood any of this nor do I have anyone to ask. 

Thank so much for any responses!

[Anonymous]

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@Anonymous wrote:

Hi y'all.  Ok, very newbie question, but I'm trying so hard to really understand and use all the awesome material found on myfico.

I have 3 CC that I have and pay off the balances each month...but I've been doing it like shooting in the dark.  I want to make sure I understand so I can start maximizing my score.

cc1 - period 4/6-5/5 due date of 6/2

cc2 - period 4/8-5/7 due date of 6/4

cc3 - only says closing date of 4/29 due date of 5/22

So to maximize my score, I want to make sure I have the balances paid the day before the period ends (5/5 or 5/7 or 4/29), correct?  I understand at least one needs to have 1-9% carried to the due date, then paid.  Right? Yes, that is correct - except for the "due date" part. It just needs to be carried past the closing date..

When is it that you can start charging again for the next period?  A couple days after the closing date or period ends?  (What about charges before the period ends and the due date??  Those go to the next Statement?) You can use the card again the day after the statement close date.

I know it seems repeditive and elementary, but I've never understood any of this nor do I have anyone to ask. 

Thank so much for any responses!

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First off, you need to understand that "maximizing your UTI%" is NOT something that needs to be maintained from month to month to grow your scores. That will come from accounts aging, keeping current on all your payments and the removal/exclusion of derogs. The "Ideal UTI%" is merely a tool you can use AT ANY TIME to peak your scores - like when preparing to apply for a mortgage. Trying to maintain that month to month can be a bit of a chore. Instead, just keep your balances in control and under 30% or so, in order to make it easy to hit that "ideal UTI%" whenever you need to do so. Don't make it more work than it needs to be.

[Anonymous]

Perfect, thank you!

I didn't understand that's how it worked...I thought it was the due date and could be why my credit score tanked today (like 40 points) because they aren't due until beginning of June but they just closed with full balances and I had paid yesterday, but they had already closed showing the full balances. Today they aren't...but now I see that doesn't matter.

I swear I will get this one of these days!