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Established Member
xosamandaxo
Posts: 50
Registered: ‎11-25-2013

Something is wrong with my brain tonight.

I feel dumb asking this, but I'm really confused on WHEN to pay my credit card each month.

 

Example:

 

I spent $51.32 on Jan 25th

 

It's due on March 6th.

 

I paid it in full tonight.

 

So does this mean anything I spend from tomorrow on will be due on my April bill?

 

I'm honestly so confused by these billing dates. 

 

 

This is what it says:

 

 

Current Balance: $51.32

 

Minimum Payment: $25.00 Due: 03/06/14

 

Available Credit: $198.68

 

Credit Line: $250

 

Last Statement Balance: $51.32 As of 02/09/14

 

Last Payment: $80.00 Posted 12/23/13

 

 

I've only had this secured CC for 3 months. I used $80 on Dec 10th, Paid it in full on the 23rd. I don't remember the due date but I paid it a bit early.  I didn't use the card anytime in Jan because the card was shut off due to the whole Target thing (although I never used it there & nothing was stolen) and they had to send me another one which took forever. I resumed using the card on Jan 25th.

 

I checked my credit karma tonight and it said I went up 5 points because my credit card carrlied the $51 balance which confused me?

 

I apologize if this doesn't make sense. Hopefully someone can explain better, lol,

Mega Contributor
RobertEG
Posts: 17,456
Registered: ‎03-19-2007

Re: Something is wrong with my brain tonight.

[ Edited ]

The balance stated in your biliing statement is as of the date they chose to shapshot the data for producing their billings

I could be up to the exact date they generated the bill, or a bit earlier.

 

If the minimum payment is made by the billing due date, it is in good standing.  However, if you are a day late, you are delinquent, and they can charge whatever penalties are specified in your account agreement, and it might also reset your APR if you currently have a introducttory low or zero interest BT rate in effect with them.

 

Being late itself does no become reportable to the CRA as a 30 late until 30 days has expired from the billing due date.

You have 30 days to bring the delinquent account back into good standing before it is reported.

 

 

Established Member
xosamandaxo
Posts: 50
Registered: ‎11-25-2013

Re: Something is wrong with my brain tonight.

Thanks for your reply.

 

Im definitely never late, and always pay in full. The cycles just confuse me like crazy. Like, money I spent on Jan 25th wasn't due until March 6th (which I paid pretty early - today). So I guess that was counted towards my Feb balance?

 

If I use my card next week, when would that $ be due? This is what I'm not understanding ;\

Established Contributor
ktl72455
Posts: 826
Registered: ‎12-09-2012

Re: Something is wrong with my brain tonight.

I spent $51.32 on Jan 25th

 

It's due on March 6th.

 

I paid it in full tonight.

 

So does this mean anything I spend from tomorrow on will be due on my April bill?

 

I'm honestly so confused by these billing dates. 

 

 

This is what it says:

 

 

Current Balance: $51.32

 

Minimum Payment: $25.00 Due: 03/06/14

 

Available Credit: $198.68

 

Credit Line: $250

 

Last Statement Balance: $51.32 As of 02/09/14  (#1)

 

Last Payment: $80.00 Posted 12/23/13

 

 

 

#1 it looks like they cut the new statement on the 9th of the month meaning what ever balance you have showing on that day is what they report on your credit report.and also your account  statement will show what your next months balance and payment due amount it is.

 

#2 You PIF tonight so you made the payment required for 3/6/14

 

#3 You can charge it to the max from now until they cut the new statement on approx 3/9/14 as long as you PIF the majority of the charge and leave a small balance to report on the credit report since Fico scoreing dont like a 0.00 balance and this is your only card.

 

I would be safe and PIF 99% of any new charges by 3/7/14 and not use it again until you log in and see a new statement and new due date for payment for 4/6/14.

 Example: You PIF tonight and this weekend you charge up 225.00 for new tires.  on or by 3/7/14 you pay off all but 8.00 wait until 3/10 and the Available credit  is ready to use again and you will have a payment based on 8.00 + interest and a due date of 4/6/14

 

 

12/4/12 TU 589 MyFico ~EQ 579 MyFico ~EX 577(Fako)
1/15/14 TU 665 | EQ 648 | EX 655 ~Myfico scores
6/8/14 TU08 666 | EQ08 656 |EX08 655 } EQ04
My Wallet: Cap1 3,500K ~FH 950 Credit One 1000~Orchard Bank 2000~ Matrix 400 ~NFCU nRewards 18K~NFCU Cash Rewards signature| 5K
Last Negs to fall off: 2-Cap1 CO's PD (fall off 1/17)~Forclosure (fall off 1/16)
Established Member
xosamandaxo
Posts: 50
Registered: ‎11-25-2013

Re: Something is wrong with my brain tonight.

Thank you, that cleared a lot up for me! 

 

So if I want another $50 balance shown next month, I charge that amount anytime before the 9th? And it'll be due in April?

 

I really have no financial use for the card, it's strictly for raising my credit & I don't want to mess up. I feel like I already wasted two months since nothing was reported except for this month ;\

Established Contributor
ktl72455
Posts: 826
Registered: ‎12-09-2012

Re: Something is wrong with my brain tonight.

So if I want another $50 balance shown next month, I charge that amount anytime before the 9th? And it'll be due in April?

 

Yep!!!  And another thing as your card gets older you will see your score go up but to really boost it, I would get 1 or 2 more cards or have some one add you on as a authorized user .

 

If you want a 2nd secured card I would suggest SDFCU, They approve everyone and dont check your credit reports but they do report to all 3 so you will get a score boost.

 

12/4/12 TU 589 MyFico ~EQ 579 MyFico ~EX 577(Fako)
1/15/14 TU 665 | EQ 648 | EX 655 ~Myfico scores
6/8/14 TU08 666 | EQ08 656 |EX08 655 } EQ04
My Wallet: Cap1 3,500K ~FH 950 Credit One 1000~Orchard Bank 2000~ Matrix 400 ~NFCU nRewards 18K~NFCU Cash Rewards signature| 5K
Last Negs to fall off: 2-Cap1 CO's PD (fall off 1/17)~Forclosure (fall off 1/16)
Established Member
xosamandaxo
Posts: 50
Registered: ‎11-25-2013

Re: Something is wrong with my brain tonight.

Thank you!

 

I definitely do want another card, so I'll look into it. :smileyhappy:

Established Member
xosamandaxo
Posts: 50
Registered: ‎11-25-2013

Re: Something is wrong with my brain tonight.

[ Edited ]

https://loans.sdfcu.org/Netlend/client/applications/consumer/default.aspx

 

is that the proper application site?

 

I'm confused by the loan amount & time questions?

 


Nevermind Im gonna apply via phone :smileyhappy:


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