Kay's Credit Card

[SunshineDay91]

So I have a Kay's Credit card with a balance of $476.07 and the limit is $300.00. The due date is the 10th of every month and the statement date is supposely either on the 3rd or the 4th of each month... Should I make a payment before the 3rd of each month. I was told that the statement date is usually when it is reported to the credit bureaus, is this true? I am trying to pay this off by the  middle of next month and was told  to pay it three or four days before the statement date and then another two to three days before the due date in order to raise my score... has anyone heard this before.. it is supposed to be a big jump in your credit score by doing this.  Are there any other dates that I need to be aware of?

Thanks

[Creditwiser]

Pay it before the due date and you wont have to worry about the reporting date.  You need the balance to be below your credit limit before they report it to the CB's to see any score improvement. You best plan is to pay this off and be done with it until you can get your scores up, get a better card, or get a CLI from Kays. If nothing else, get it below your credit limit and allow for an interest charge buffer when the statement cuts.

[SunshineDay91]

What is a interest charge buffer? Thanks

[mgood]

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@SunshineDay91 wrote:

What is a interest charge buffer? Thanks

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If your limit is $300 and you pay it down to exactly $300.00, then when the statement cuts they charge interest and you are over your limit by however much the interest was. It still reports as a card that's over the limit. So pay it down to less than $300, enough so that even after interest, it will not be over $300.00.

[ptatohed]

Just pay it in full ASAP.   

[FicoMike0]

Ditto what @ptatohed said!

You don't ever want to be over limit.

[NoMoreE46]

@SunshineDay91 

I think you are confused.

Due date being the 10th while the End date being the 3rd or 4th isn't corect.  

If the End Date is the 3rd, then you would only have Seven days to satisfy the due date of the 10th.

So the End date should be the 10th and the Payment is due ~ 23/24 days later on the 3rd/4th.

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@SunshineDay91 wrote:

So I have a Kay's Credit card with a balance of $476.07 and the limit is $300.00. The due date is the 10th of every month and the statement date is supposely either on the 3rd or the 4th of each month... Should I make a payment before the 3rd of each month. I was told that the statement date is usually when it is reported to the credit bureaus, is this true? I am trying to pay this off by the  middle of next month and was told  to pay it three or four days before the statement date and then another two to three days before the due date in order to raise my score... has anyone heard this before.. it is supposed to be a big jump in your credit score by doing this.  Are there any other dates that I need to be aware of?

Thanks

[SunshineDay91]

When I called and asked about the due date and the statement date the said that its due on the 10th of every month and that the statement date is either the 3rd or 4th of each month, but thanks for the clarification...

[SunshineDay91]

Thank you .. I am working on that 

[NoMoreE46]

Certainly.  Also, it would be

useful if you reply using the Quote button for clarity.