cancel
Showing results for 
Search instead for 
Did you mean: 

Statement closing date/reporting date

tag
rchvmz
Frequent Contributor

Statement closing date/reporting date

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? 

Message 1 of 3
2 REPLIES 2
OmarGB9
Community Leader
Super Contributor

Re: Statement closing date/reporting date

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.


Last App: 1/10/2023
Penfed Gold Visa Card

Currently rebuilding as of 04/11/2019.

Starting FICO 8 Scores:




Current FICO 8 scores:


Message 2 of 3
SouthJamaica
Mega Contributor

Re: Statement closing date/reporting date


@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.


Total revolving limits 710800 (590300 reporting) FICO 8: EQ 712 TU 710 EX 710

Message 3 of 3
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.