topic Re: Best time to pay CC bill? in Understanding FICO® Scoring

Best time to pay CC bill?

Anonymous — Fri, 21 Aug 2020 03:05:27 GMT

When is the best time to pay my balance?
statement date?
due date?
or a preset date before end of billing cycle to get closer to 0% usage?

1. Opensky Secured CC -2500 CL

2. Capital One Platinum-300 CL

3. Credit One Platinum -300 CL

Im currently in the process of trying to up my scores and keep them raising.

Re: Best time to pay CC bill?

ToxikPH — Fri, 21 Aug 2020 03:12:33 GMT

With three cards your best option for maximizing scores is AZEO where two of your cards report a $0 balance and the other one reports one that is less than 8.9% of it's limit. The easiest way to do this is to know your statement cut dates and pay to these numbers before then. Remember this only works if the third card has a small balance! Good luck!

Re: Best time to pay CC bill?

Anonymous — Fri, 21 Aug 2020 03:14:40 GMT

So find out the cut off date for each and pay 2 off completely and have one with a 8.9% or less usage?? And what will that accomplish as well what is AZEO

Re: Best time to pay CC bill?

ToxikPH — Fri, 21 Aug 2020 03:19:23 GMT

AZEO stands for all zero except one. For some reason it's a super effective way to boost scores and yeah just like you said.

Re: Best time to pay CC bill?

Anonymous — Fri, 21 Aug 2020 03:21:20 GMT

What is the best way to find out cut off date for each card? Call them directly? Or how

thanks for the help i greatly appreciate it.

Re: Best time to pay CC bill?

Anonymous — Fri, 21 Aug 2020 11:05:34 GMT

You can see the "Statement Cutoff Date" online by looking at your statement for each card account.

Its the end date of each billing period. Just make sure you get credit for your payment before this date.

If your statement billing period runs from: (example) July 20 - Aug 19 --- Then the Statement "Billing Period" ends on Aug 19

Just make sure your payment is made and credited before the end of the billing period. Also Known As: "Statement Cutoff Date"

Re: Best time to pay CC bill?

FlaDude — Fri, 21 Aug 2020 19:48:20 GMT

@Anonymous wrote:
So find out the cut off date for each and pay 2 off completely and have one with a 8.9% or less usage?? And what will that accomplish as well what is AZEO

Generally speaking, the lower the balance the better, so paying in full before the statement cuts is a good goal. The exception is that there is a small score penalty for having all cards at zero balance, so the collective wisdom is to leave a small balance on one card. For example pay all but $50 of that card before the statement date. I've read different things about how much should be left, some say under 8.9%, others suggest under $100 dollars or some other figure.