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19 with one current CC, looking for more rewards

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New Contributor

Re: 19 with one current CC, looking for more rewards

ok so let me get this straight, report less than 8.9% balance (anywhere under $178 for me), then the following 6th(day before my statement generation date) have it be zero? very sorry if i seem repetitive btw friends(:

thank you you all for the massive help, really trying to nail the whole credit thing 17 months late lol
Message 11 of 18
New Contributor

Re: 19 with one current CC, looking for more rewards

statement balance thats reported is $0 right now (had a $388 statement balance last month), hope im doing it right 😬
Message 12 of 18
Valued Contributor

Re: 19 with one current CC, looking for more rewards


@elixerin wrote:
ok so let me get this straight, report less than 8.9% balance (anywhere under $178 for me), then the following 6th(day before my statement generation date) have it be zero?

thank you you all for the massive help, really trying to nail the whole credit thing 17 months late lol

You should have two dates. Due date and closing date. With one card, managing the report is a little tricky because you can't use the card organically if you're trying to isolate the $ because of pending / unposted charges.

 

I would pay a few days before the due date to have desired number to report. Don't use the card. Let statement cut and close. Pay to zero. Then, repeat spend cycle.

Message 13 of 18
New Contributor

Re: 19 with one current CC, looking for more rewards

beast, yeah my due date is every 2nd new statement gen is 7th. i pay the statement balance almost instantly running through the charges way early in the month my question is by the next due date do i make sure it’s zeroed out or under 8.9% but above zero by the time of statement generation like someone recommended, whats the best move?
Message 14 of 18
Frequent Contributor

Re: 19 with one current CC, looking for more rewards

Ok my CSP statement cuts on the 6th of every month and reports to the CB’s on the 13th of every month. So whatever the statement says my balance is will be reported to the CB’s even if I pay it off/down on the 7th come the 13th if my statement says I owe 5k that’s what will be reported even if I paid 4900 on the 7th. This has been my experience with chase.

Just make sure you’re at 178 or below (as long as you are reporting say 10 bucks) a couple of days before your statement cuts - allow enough time for the payment to post and credit to your account.

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Message 15 of 18
New Contributor

Re: 19 with one current CC, looking for more rewards

absolutely wonderful to know addicted, always pay what i want reported before due date got it, Discover let’s me pay till the 6th (day before generation, 2nd is due date)and the next day(7th) my payment will have posted and the statement balance/generation will reflect it (plus any pending ofcourse), which you are right is a hardball cause you never know when a pending will post

Thanks a ton.
Message 16 of 18
Frequent Contributor

Re: 19 with one current CC, looking for more rewards

 

Ok look at mine, statement cut is on the 9th payment due date is on the 6th and per my CR it updates on the 13th so say I have a zero balance reporting or just a zero balance for last month but this month I have 5k in spend so if I don’t want 5k reporting I’ll need to pay it off/down by the 6th or 7th before the statement cut aka closing date

 

E25F67E9-49BB-43A8-BD5B-AC1EDEFB4FCA.jpeg


Starting Score: Jan 2011-600TU 598 EQ
Current Score: 795TU 800EQ 772EX
Goal Score: 800 and higher across the board


Take the FICO Fitness Challenge

Inquiries:
EX: 2 / 12 months 7 / 24 - 1 June 2019 CSP APP, 6 in 2018 3 are auto finance inquiries 1 is sync listed as sales finance company and 2 are credit card
EQ: 1/24 June 2019 CSP

APP
TU: 3 / 24 - May/June 2019 USB x 2 avant x 1

Currently 7/24 CC’s
23/24 INQ’s due to auto loan
Avant 750
US Bank plat 3.5k
US Bank Cash+ 14k
Chase Sapphire Preferred 20k
Chase FU 6k
BB&T Bright 6.5k
BB&T Spectrum 6.5k
Apple Card 5k
Amazon Store Card 6k
NFCU More Rewards 7.8k
Message 17 of 18
Senior Contributor

Re: 19 with one current CC, looking for more rewards

OP your card reports on the 7th. Based on the timeframe of my Disco, that means your payment is due on the 2nd. Make your payments by the 2nd. On the 6th, pay anything extra that you need to pay so that by the time you go to bed on the 6th, you have a $10 balance, and the next day (statement day), that $10 will be reported. Then resume your usual usage, and repeat the next month. As you add cards, pay them off completely by their statement dates and continue this way with Disco. This is ideal behavior and is known as AZEO, all zero except one.


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Message 18 of 18
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