@Anonymous wrote:I need help understanding the following as it relates to my CC spending habits.
The AZEO method is tried and true score optimization: 3 cards PIF, two you pay to 0 before their statements cut, one you let cut at 8.9% then PIF before due date.
What does it mean when a statement "cuts"? Statement Date is listed on the website usually under view statements. There you can see the last statement date. Each creditor has a different webpage layout. Due date is always listed usually as you login.
Does this mean when they report to the credit bureaus? The balance that is left to report on your AZEO card is whats reported to the CRA's
Does this mean I should always pay off my 3 credit cards before the statement due date or should I always leave one with a balance of less than 9% of util? If you are following AZEO. Whatever card you leave a balance to report of less than 8.9%. Yes pay that before the due date.. The other 2 you wont need to pay anything. Because you paid it off before the statement date.
Right now, my discover and my OpenSky revolving accounts have $0 due. My paypal has $144 due (4% util). Should I pay all 3 off on statement due date ( Before statement date) and always have one report at 9% (less than 8.9%) util before statement due date? Let the AZEO card go past statement date and report to the CRA's. Then you can pay it when min payment is due by **/** will be showing.
Hope that helps
Yep. PalPal seems to post differently each month. It goes by the 30 day rule. Disco is the same date no matter how many days it is. So yes let Disco report <8.9% come statement date. You can use it all you want. Forget what the internet say about not using more than 30% of the total CL. Thats hogwash. Just pay it down (<8.9%) before the statement date. The rest of the cards zippo. This can lead to higher CL's when you ask for a CLI. At 61, 91, and 121 days out. Ask Miss Disco for a SP CLI. It worked for me on both cards even though I closed the first one. You got this now. Good Luck!
@Anonymous wrote:Perfect. Thank you for the clarification. I'm going to go ahead and pay off Paypal on Wednesday, and leave that and OS at $0 from here on out. I'll also make a small purchase on my Disco this week so it reports a balance this coming month) and then take care of my Disco from here on out.
I'll also start depositing $$$ in my savings account- equivalent to 3 months pay so I can use that for a emergency or slush fund.
Thanks for the advice! Appreciate it.
Always pay yourself first. 10% of you pay to start. You can use Disco for groceries now for the cash back of up to 10% after cash back match when it turns a year old. Activate the next quarter too. Everyone buys groceries. Get cash back from them for doing so. Your a business and you want to profit from it. Never pay interest. Let them pay you for using their card(s).