I need to correct an error

[MarineVietVet]

I went back and edited this post from 5/25 but since it is an old one someone who read it then might not see my correction and I want to make sure as much as possible that I don't give out wrong information. Here is my post with edit.

l-turner wrote:

I have an U.S. bank secured credit card. Balance is 0, My dude date is June 9, and then I received a email of the future statement dates. The statement date is June 14, 2010. That means your next due date will be around July 9, 2010. You can use your card during the month but make sure whatever utilization you want to show is on the monthly statement which will post on June 14, 2010. That utilization is what is used for scoring.

Then pay in full before the next due date (in this case July 9) to avoid finance charges. Every month thereafter do the same thing. With the new laws you'll have 25 days between the statement date and the due date each month.

Now how do I work this where it atleast shows a balance of 30.00(or less probably) on my Credit Card for myfico scores. That's what I'm trying to improve. The Credit Card Limit is 300.00 so I'm think 25.00 is aorunf 8% - 9% Utilization as the balance?? but with the statement date after my due date, I don't understand whether after I pay it off I go ahead and place a  20 $ purchase on it before the statement date cuts or what???

Just need some guidance thanks in advance

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ETA: I made an error when I said  With the new laws you'll have 25 days between the statement date and the due date each month.

What I should have said is the statements must be mailed at least 21 days ahead of the due date. I apologize for that huge mistake.

Here is the thread: http://ficoforums.myfico.com/t5/Credit-Cards/Statement-Question-For-U-S-Bank/td-p/678668

[Anonymous]

It is a small mistake.

The law requires consistent due dates and 21 days mailing.  

Most statement will allow a minimum of 25 days betweem statement and due date.   This gives them only 4  days to allow for printing, weekends, and holdiays before they put it in the mail to meet the 21 day legal requirement.   

The grace period on most cards requires the statement to be cut at least that many days before due date.  Many are also 25 days.

This makes 25 days a practical minimum for most cards.

[MarineVietVet]

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@Anonymous wrote:

It is a small mistake.

The law requires consistent due dates and 21 days mailing.  

Most statement will allow a minimum of 25 days betweem statement and due date.   This gives them only 4  days to allow for printing, weekends, and holdiays before they put it in the mail to meet the 21 day legal requirement.   

The grace period on most cards requires the statement to be cut at least that many days before due date.  Many are also 25 days.

This makes 25 days a practical minimum for most cards.

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Yes but even small mistakes need to be corrected if possible. I agree with what you said but nowhere is a 25 day grace period required or mentioned that I can find and that is what my original post said. There is so much misinformation floating around that I don't want to knowingly add to the confusion.

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

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[Anonymous]

Agreed.  There is a lot of wrong information out there.