Just out of curiosity. Should I pay the balance ON the due date? Or pay in full BEFORE the due date? What is the most ideal?
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Before the statement date, to show zero balance on your reports.
On or before the due date to avoid paying interest.
Starting Score: EQ8 680, TU8 713, EX8 701
If you're looking for all zero balances, you want to pay either the day or the day before your statement cuts. If you want to let a few small charges report, then pay the day, or the day before the due date; this is how I do it and there are almost always a charge or two which shows up on my statements which in turn means I'm typically all-zero except one or two; occasionally I end up all zero which results in a temporary loss of FICO points.
Depends on what you're trying to accomplish. Are you trying to do AZEO and you're asking about the one card you're supposed to leave a balance on? Or are you just asking in general? If you're just asking in general, the answer is: it's completely up to you. So long as you pay at least the minimum by the due date, payment history wise you'll be okay. Obvioisly you'd have to pay the full statement balance to avoid paying interest by the due date.
Now, if you want to optimize scores, then that's when you'd implement AZEO (All Zero Except One, wherein you pay all cards down to zero balance BEFORE their respective due dates, except for one card you'd leave a small, <8.9% balance on).
I pay off my cards sometimes daily. I just hate seeing balances on any of my accounts..
@OniStringer wrote:Just out of curiosity. Should I pay the balance ON the due date? Or pay in full BEFORE the due date? What is the most ideal?
You should pay before the due date. Dangerous to leave things to the last minute, and in many cases the due date keeps changing.
I pay many of my accounts before the statement even cuts, thus maintaining them at zero reported balance.
@OmarGB9 wrote:Depends on what you're trying to accomplish. Are you trying to do AZEO and you're asking about the one card you're supposed to leave a balance on? Or are you just asking in general? If you're just asking in general, the answer is: it's completely up to you. So long as you pay at least the minimum by the due date, payment history wise you'll be okay. Obvioisly you'd have to pay the full statement balance to avoid paying interest by the due date.
Now, if you want to optimize scores, then that's when you'd implement AZEO (All Zero Except One, wherein you pay all cards down to zero balance BEFORE their respective due dates, except for one card you'd leave a small, <8.9% balance on).
Appreciate this response as this was the main information i was looking for. Should have mentioned for score optimization, but thanks to everyone else as well as I was curious how people go about it.
@OniStringer wrote:
@OmarGB9 wrote:Depends on what you're trying to accomplish. Are you trying to do AZEO and you're asking about the one card you're supposed to leave a balance on? Or are you just asking in general? If you're just asking in general, the answer is: it's completely up to you. So long as you pay at least the minimum by the due date, payment history wise you'll be okay. Obvioisly you'd have to pay the full statement balance to avoid paying interest by the due date.
Now, if you want to optimize scores, then that's when you'd implement AZEO (All Zero Except One, wherein you pay all cards down to zero balance BEFORE their respective due dates, except for one card you'd leave a small, <8.9% balance on).
Appreciate this response as this was the main information i was looking for. Should have mentioned for score optimization, but thanks to everyone else as well as I was curious how people go about it.
Unfortunately @OniStringer the red part of that statement is not correct, undoubtedly a typo by @OmarGB9 Paying before the due date is meaningless in terms of AZEO. It has to be before the reporting date if you want it to report at zero. The reporting date is usually, but not always, the prior statement date.
E.g. assuming (a) you want account to report at zero on next reporting date (b) account uses statement date as reporting date and (c) there are no new charges:
- Jan. 5th statement balance 100, due date Jan. 28th, next closing date Feb. 5th
- Payment in full before Feb. 5th if you want it to report zero balance, payment in full before Jan. 28th if you want to avoid interest
@SouthJamaica wrote:
@OniStringer wrote:
@OmarGB9 wrote:Depends on what you're trying to accomplish. Are you trying to do AZEO and you're asking about the one card you're supposed to leave a balance on? Or are you just asking in general? If you're just asking in general, the answer is: it's completely up to you. So long as you pay at least the minimum by the due date, payment history wise you'll be okay. Obvioisly you'd have to pay the full statement balance to avoid paying interest by the due date.
Now, if you want to optimize scores, then that's when you'd implement AZEO (All Zero Except One, wherein you pay all cards down to zero balance BEFORE their respective due dates, except for one card you'd leave a small, <8.9% balance on).
Appreciate this response as this was the main information i was looking for. Should have mentioned for score optimization, but thanks to everyone else as well as I was curious how people go about it.
Unfortunately @OniStringer the red part of that statement is not correct, undoubtedly a typo by @OmarGB9 Paying before the due date is meaningless in terms of AZEO. It has to be before the reporting date if you want it to report at zero. The reporting date is usually, but not always, the prior statement date.
E.g. assuming (a) you want account to report at zero on next reporting date (b) account uses statement date as reporting date and (c) there are no new charges:
- Jan. 5th statement balance 100, due date Jan. 28th, next closing date Feb. 5th
- Payment in full before Feb. 5th if you want it to report zero balance, payment in full before Jan. 28th if you want to avoid interest
Indeed, I've been sleep deprived lately. 
I meant statement date, yes, which is usually the same as the reporting date with the exception of US Bank and a few other banks/CUs.