Rebuilding Your Credit

[madmann26]

So I got my first CC bill in with a  due date of October 28th. As far as the statement "drop" date, that would be the date that I received said statement, right? I can pay the bill anytime between I got the statement and it's due date, right?

[Shogun]

I usually try to pay a few days early just to make sure the payment posts.

[Jutz]

I try to pay a few days before the statement cuts so I have less or nothing reporting to the CRs...but I guess that's what you do when every point counts.

[RobertEG]

If you dont pay by the statement due date, then the account is late under your account agreement.

However, that does not make it a reportable 30-late to the CRAs,

For credit reporting purposes, reportable 30-lates are based on being more than 30 days past the billing due date, not the billing date.

You thus have a 30-day window within which a delinquent account can be paid without reporting of a late to the CRA.

[Ms_Pooka]

I had a question about this before as well. you can pay any time between the statement date and the due date. But what you want to do is pay down as much as possible before the next statement is generated. For example, my due date for October was the 15th. so I paid the minimum 25 due. However, in order to show low utilization on my CRA, I paid another 50 before the next statement came out on October 19th. So that way, the CC only shows a low amount of usage...