Hey what's up guys. I plan on doing the AZEO strategy to rebuild my credit.
i currently one month out from bankruptcy:
i have 3 cards and they are
Capital one platinum card $300 limit
navy Fed secure card $300 limit
OpenSky $200 limit
Now my question is how can I figure out the right time to make the payments to drop all the amounts to zero except one to 10% credit usage?
Is there a way to look at the statement or minimum payments and tell or is it a guessing game?
Look at your statements for the closing date of your statement periods. That will tell you the date your CC company reports your balance to the bureaus. Capital One is now changing to statements cutting 25 days before your due date, so that's something to keep in mind.
Give yourself enough time to pay your balances down by those statement closing dates and you're able to complete AZEO.
For Capital One, my payments usually take 2 days to post. So I'll pay my balance down 2 days before my statement cut date in order to manipulate the balance that reports to the bureaus.
Thank you for that I'll take that into consideration. I'm planning on figuring out the days so I can just have it automatically pull from my account on a certain day so I don't have to worry about balances. I have yet to receive two of the cards so won't get statements till next month I'm assuming and not sure how long till everyone will start posting on credit reports. Been about 4 years since I last used any credit cards and I was a young dumb 19 year old hah
You can also call the CC companies and ask them what your statement closing date is even before you receive the card. I did that with Discover.