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Statement cut date

Valued Member

Statement cut date

Hi all, 

 

My question might seem a bit ridiculous but here goes. I had all of our statement cut dates memorized so that things can report 0 at the time. We became lenient and it's been a bit. I know my statement for discover cuts on the 20th, my due date is the 15th. What is the latest date I am safe paying it all, to report 0? 

Message 1 of 7
6 REPLIES 6
Valued Contributor

Re: Statement cut date


@Upstatemamaof4 wrote:

Hi all, 

 

My question might seem a bit ridiculous but here goes. I had all of our statement cut dates memorized so that things can report 0 at the time. We became lenient and it's been a bit. I know my statement for discover cuts on the 20th, my due date is the 15th. What is the latest date I am safe paying it all, to report 0? 


If I'm reading your question correctly, if your statement cuts on the 20th then you would want to have your bill paid to zero, and updated in the system, before the 20th. I'd suppose by the 19th SHOULD do, but maybe the 18th to be safe. 

Starting Score: (5/24/2018) -- FICO 08 EXP: 643; FICO 08 TU: 642; FICO 08 EQ: 677
Current Score (11/11/2020): FICO 08 EXP: 747; TU: 762; EQ: 782
2020 Goal Score: 760 across the board


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Message 2 of 7
Valued Contributor

Re: Statement cut date

If I'm understanding you correct as well the 19th 










Message 3 of 7
Valued Member

Re: Statement cut date

Thank you both! Yes, I probably could've worded my question better, sorry. It's exactly what I meant. Thank you 😊 

Message 4 of 7
Valued Contributor

Re: Statement cut date

A neat trick I learned though unless you are trying to do the AZEO method is Make a bit above your Minimum for Payment Due date then after that date (in your case the 15th) clear it all to 0, then add a few dollars maybe 5-10 ((Depending on your Limit on that card so the statement shows a small small balance hopefully between 1-5% anything under 10% is pretty good though but if you can get all your cards to equal around 8/9% together that is like a sweet spot for some reason and I noticed my biggest jumps in score and CLI when I did this method)).       YMMV of course but just food for thought (not sure what your end goal is)










Message 5 of 7
Valued Member

Re: Statement cut date

Thanks for the tips. I'm trying to get back to AZEO as we just started the mortgage process of pre -approval, etc. However, we like our cash back feature on our disco card so we use it for everything that's basically not a bill. I'm trying to get us back into a routine as I got very laxed around the holidays and after. However we just paid everything off and time to get back on the horse and saddle up. 

Message 6 of 7
Valued Contributor

Re: Statement cut date

So for that you want your Current cards to be under 30% so 29% and below but if you can do that 8/9% across the board perfect just NO NEW CARDS no new inquiries etc for minimum 3 months before.     I'm not sure if by started process you already applied or not but if you do the AZEO method be sure it's a BANK card you put the percent on for the best results  ^^










Message 7 of 7
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