When is the best time to pay my CC bill to get the best CS bump?

[JMMD]

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@guiness56 wrote:

Some may report on the statement date so you may want to call and make sure.

You want to pay before they report so if you wait they will have already reported.  Hope that makes sense.

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Why do I want to pay before they report? Don't I want them to report some balance to build credit? Sorry to be so dense! I really apppreciate the help!

[guiness56]

You want to pay it down to 9% or under before they report so that little bit of a balance will show on your credit report.  That will give you the best bump in score.  Then once it reports, pay it in full by the due date to avoid interest charges.

[JMMD]

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@guiness56 wrote:

You want to pay it down to 9% or under before they report so that little bit of a balance will show on your credit report.  That will give you the best bump in score.  Then once it reports, pay it in full by the due date to avoid interest charges.

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Ok, thank you! I planned to only use 9% of my credit limit anyway to avoid over spending. CC debt is what got me in toruble in the first place...:-)

[CEOriginal]

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@guiness56 wrote:

You want to pay it down to 9% or under before they report so that little bit of a balance will show on your credit report.  That will give you the best bump in score.  Then once it reports, pay it in full by the due date to avoid interest charges.

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Can we use real-life examples? It will help me more. 

So, for my Barclay card, the statement period ends the June 12th. The charges incurred during that period will be due July 9th. Barclaycard reports two days after the due date (7/11 in this case).

When should I pay it down to report under 9%, and then when should I subsequently pay it off?

Thanks in advance.

[CEOriginal]

bump

Can anyone answer?

[cwwatts1202]

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@CEOriginal wrote:

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@guiness56 wrote:

You want to pay it down to 9% or under before they report so that little bit of a balance will show on your credit report.  That will give you the best bump in score.  Then once it reports, pay it in full by the due date to avoid interest charges.

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Can we use real-life examples? It will help me more. 

So, for my Barclay card, the statement period ends the June 12th. The charges incurred during that period will be due July 9th. Barclaycard reports two days after the due date (7/11 in this case).

When should I pay it down to report under 9%, and then when should I subsequently pay it off?

Thanks in advance.

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I think in this case, you'll pay it down to where only a small balance will report (like $5 dollars or so) but you will pay a little interest on the $5 since they don't report until after the due date.. (even at 25% interest on $5 isn't much at all) correct me if i'm wrong anyone.. lol 

[CEOriginal]

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@cwwatts1202 wrote:

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@CEOriginal wrote:

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@guiness56 wrote:

You want to pay it down to 9% or under before they report so that little bit of a balance will show on your credit report.  That will give you the best bump in score.  Then once it reports, pay it in full by the due date to avoid interest charges.

---

Can we use real-life examples? It will help me more. 

So, for my Barclay card, the statement period ends the June 12th. The charges incurred during that period will be due July 9th. Barclaycard reports two days after the due date (7/11 in this case).

When should I pay it down to report under 9%, and then when should I subsequently pay it off?

Thanks in advance.

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I think in this case, you'll pay it down to where only a small balance will report (like $5 dollars or so) but you will pay a little interest on the $5 since they don't report until after the due date.. (even at 25% interest on $5 isn't much at all) correct me if i'm wrong anyone.. lol 

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Thanks for the reply! Can anyone confirm?

[JMMD]

I called the CC company today and she said they report to the CRA at the end of every month. My statement comes tomorrow and I am assuming the due date will be before the end of the month when they report. So I plan to pay almost all of the balance and leave a bit on there to report a small balance every month.