topic Re: Statement closing date/reporting date in General Credit Topics

Statement closing date/reporting date

rchvmz — Fri, 11 Jun 2021 18:15:11 GMT

So, if I understand this correctly, if I am going to use the AZEO method, I need to be sure that my balance on the <8% card is at that level BEFORE the statement closes?.......Like when I get my due date, pay it by then, and leave just enough to report that <8% balance?

Re: Statement closing date/reporting date

OmarGB9 — Fri, 11 Jun 2021 18:35:12 GMT

So, pay in full last month's statement + as much as you need to to cover any new charges until the balance comes down to <8% before statement cut, yes. But obviously be sure to pay at least your minimum before due date.

Re: Statement closing date/reporting date

SouthJamaica — Sat, 12 Jun 2021 02:26:13 GMT

@rchvmz wrote:
So, if I understand this correctly, if I am going to use the AZEO method, I need to be sure that my balance on the <8% card is at that level BEFORE the statement closes?.......Like when I get my due date, pay it by then, and leave just enough to report that <8% balance?

You want one card reporting a small balance while the others report zero balances. Usually the statement balance is the reported balance, but there are exceptions; we would need to know who the lender is to give you an answer on that.