Valued Contributor
daybreakgonesXe
Posts: 1,864
Registered: ‎11-17-2012
How many days do YOU PIF before statement cut?

Hey guys! So I think I'm going to play around with the whole "one card reports small utilization" to see if this will result in a rise in my scores next month! :smileyvery-happy: the question of the night is: when do YOU PIF on the cards you don't want to report?? What is the recommended time frame to PIF before statement cut if I only want to make one payment a month to my CC? Any companies do an odd reporting, like mid-statement? Feel free to input your personal experiences based on my cards and their affiliate companies, or any other companies you have! Think I'll just have the small utilization report on my JCPenney!

Capital One Quicksilver World Mastercard $10k | JCPenney Platinum $7.5k | Shell Drive for Five $800 | Chase Freedom Visa Signature $9.8k | TD Bank Easy Rewards Visa Signature $5k | Chase Sapphire Visa Signature $10k | American Express Blue Sky $25k | Discover IT $9.5k | SavingStar American Express $14.8k

FICOS: EX 744 EQ 718 TU 733 Credit Karma (TU) 785 Transrisk 809/990 Credit Sesame (EX) 766 Credit.com (EX) 764 VantageScore 3.0 719 Quizzle (EQ) 721
Frequent Contributor
sakhalin070
Posts: 296
Registered: ‎08-28-2012
Re: How many days do YOU PIF before statement cut?

I tend to pay mid-cycle and then just PIF after the statement cuts, so only half of my actual spending reports.

AMEX BCE, Discover IT, Citi Forward, BoA Travel Rewards
FICO: TU 781 EX 776 Last App: November 2012
Valued Contributor
chnceit
Posts: 1,524
Registered: ‎08-17-2008
Re: How many days do YOU PIF before statement cut?

3-4 days before the statement cuts so I know it will report $0


$100K in Credit
Last Credit Card App: 11/16/13
Valued Contributor
creditnocash
Posts: 2,255
Registered: ‎07-23-2012
Re: How many days do YOU PIF before statement cut?

i make sure to pay by due date and then dont spend anything until a statement is put up. 

 

for example my chase freedom is due 12/7 i pif on that day and then dont use it for a few days (usually the 10th) and then use it whenever. i use another card for the time being 

my balance due is always 0 since i pay in full so if for whatever reason i forget to pay it no hard since they are all new charges. 

Current: Discover Fico 701 10/14 Walmart Fico 689 9/14

Inquiries (24 Months): EQ 3 TU 0 EX 0 | Most Recent: 09/26/2014


2014 Goals:
Lower Utility
47%(OUCH!!)
Freedom Signature

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000
Frequent Contributor
brother7
Posts: 380
Registered: ‎02-06-2009
Re: How many days do YOU PIF before statement cut?

daybreakgonesXe wrote:

I only want to make one payment a month to my CC


If you make only one payment/month, then you should pay your current account balance (which should be more than your last statement balance) by the due date AND stop using the card until the next statement date. That will result in a zero balance on your next statement.

 

If you make payments on the credit card company's website via checking account debit, you can schedule a payment 1 day before the due date. The payment will be on time and the payment will be posted before the next statement.


11/02/2012 Peak - EQ 790 (ScoreWatch EQ FICO)
12/08/2014 Current - TU 823 (Walmart MasterCard TU FICO 08 Classic)
GOAL - 800! - App free since 09/07/2014
Valued Contributor
daybreakgonesXe
Posts: 1,864
Registered: ‎11-17-2012
Re: How many days do YOU PIF before statement cut?

brother7 wrote:

daybreakgonesXe wrote:

I only want to make one payment a month to my CC


If you make only one payment/month, then you should pay your current account balance (which should be more than your last statement balance) by the due date AND stop using the card until the next statement date. That will result in a zero balance on your next statement.

 

If you make payments on the credit card company's website via checking account debit, you can schedule a payment 1 day before the due date. The payment will be on time and the payment will be posted before the next statement.


Great advice! :smileyvery-happy: I just checked my Equifax report to see when each company reports each account and marked it down in my calendar. But I agree, paying a day or two before the due date on both my statement and current balances will result in the $0 reporting for the next month as long as I don't spend between the due date and statement cut, and then from there it's always the current account balance to keep at it. I'm sure after a couple go-rounds I'll have it down to a science! Now, it's just a waiting game for my free annual report to see when Transunion and Experian receive information from my CC companies...

Capital One Quicksilver World Mastercard $10k | JCPenney Platinum $7.5k | Shell Drive for Five $800 | Chase Freedom Visa Signature $9.8k | TD Bank Easy Rewards Visa Signature $5k | Chase Sapphire Visa Signature $10k | American Express Blue Sky $25k | Discover IT $9.5k | SavingStar American Express $14.8k

FICOS: EX 744 EQ 718 TU 733 Credit Karma (TU) 785 Transrisk 809/990 Credit Sesame (EX) 766 Credit.com (EX) 764 VantageScore 3.0 719 Quizzle (EQ) 721
Valued Contributor
creditnocash
Posts: 2,255
Registered: ‎07-23-2012
Re: How many days do YOU PIF before statement cut?

brother7 wrote:

daybreakgonesXe wrote:

I only want to make one payment a month to my CC


If you make only one payment/month, then you should pay your current account balance (which should be more than your last statement balance) by the due date AND stop using the card until the next statement date. That will result in a zero balance on your next statement.

 

If you make payments on the credit card company's website via checking account debit, you can schedule a payment 1 day before the due date. The payment will be on time and the payment will be posted before the next statement.


depends which bank/cu you send it from. 

i have to set it up 3 buisness days ahead of time. 

and do the math if i have any pending charges so there is no surprises. 

Current: Discover Fico 701 10/14 Walmart Fico 689 9/14

Inquiries (24 Months): EQ 3 TU 0 EX 0 | Most Recent: 09/26/2014


2014 Goals:
Lower Utility
47%(OUCH!!)
Freedom Signature

Amex Zync(Unicorn)
Chase Freedom$1500
Discover IT$2900
Citi Diamond Preferred$6000
Citizens Mastercard$7000
New Contributor
Joesh
Posts: 50
Registered: ‎05-21-2012
Re: How many days do YOU PIF before statement cut?

So does reporting 0% utilization actually help your score? I thought the goal was to report between a small nonzero amount (like 5%)

AMEX BCP : $24.6K | Chase Ink Plus: $12K | Citi Forward : $10K | Citi Dividend : $9.2K | BoA Travel Rewards : 7K
NFL Cash Rewards : $6K | Chase Freedom : $5K | Discover More : $5K

Age: 24 | Occupation: Grad Student | CreditKarma: 762 |
Valued Contributor
daybreakgonesXe
Posts: 1,864
Registered: ‎11-17-2012
Re: How many days do YOU PIF before statement cut?

Joesh wrote:

So does reporting 0% utilization actually help your score? I thought the goal was to report between a small nonzero amount (like 5%)


Not really; you're right, reporting a small nonzero amount is best! I'm just discussing having an overall utilization with just one card reporting, instead of all my cards reporting balances.

Capital One Quicksilver World Mastercard $10k | JCPenney Platinum $7.5k | Shell Drive for Five $800 | Chase Freedom Visa Signature $9.8k | TD Bank Easy Rewards Visa Signature $5k | Chase Sapphire Visa Signature $10k | American Express Blue Sky $25k | Discover IT $9.5k | SavingStar American Express $14.8k

FICOS: EX 744 EQ 718 TU 733 Credit Karma (TU) 785 Transrisk 809/990 Credit Sesame (EX) 766 Credit.com (EX) 764 VantageScore 3.0 719 Quizzle (EQ) 721
New Contributor
Joesh
Posts: 50
Registered: ‎05-21-2012
Re: How many days do YOU PIF before statement cut?

daybreakgonesXe wrote:

Joesh wrote:

So does reporting 0% utilization actually help your score? I thought the goal was to report between a small nonzero amount (like 5%)


Not really; you're right, reporting a small nonzero amount is best! I'm just discussing having an overall utilization with just one card reporting, instead of all my cards reporting balances.


Gotcha, thanks. 2nd question - are you thinking that 0% utilization on all cards and small utilization on one card will result in a higher score?

AMEX BCP : $24.6K | Chase Ink Plus: $12K | Citi Forward : $10K | Citi Dividend : $9.2K | BoA Travel Rewards : 7K
NFL Cash Rewards : $6K | Chase Freedom : $5K | Discover More : $5K

Age: 24 | Occupation: Grad Student | CreditKarma: 762 |