@thefinancialpilot: Most creditors will report your credit card balance on the last day of your bill cycle, AKA your statement closing date. (Your statement will typically close on the same day each month.) That reported balance will then be used to calculate your overall utilization ratio, which makes up 30% of your credit scores - the lower your reported utilization ratio, the better your score! If you report a high statement balance, making multiple payments before or leading up to the payment due date will not improve your scores. It is always best to pay your statement balance off in full to avoid interest charges. Comment below and let me know if you’ll pay your credit cards like this from now on.

The Financial Pilot

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Wednesday 29 March 2023 16:58:33 GMT

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Comments

Anthony :

My due date is the 1st and my statement date is the 4th. So when do I pay ?

2023-06-21 17:57:41

YawdgurlPicks :

thank you

2023-03-30 12:01:14

Cynthia Ferrera :

OK but what if the statement closing date is the previous billing cycles due date? Like the Apple Card

2023-04-25 17:34:44

Abiiiiiiiiii 😏 :

I just got my first credit card. Should I keep some utilization on there (<9%) or should I keep the utilization at zero?

2023-07-01 01:34:15

S&K Continental Tours.❌️✨️🖤🥰 :

🥰🥰🥰

2023-03-30 12:07:41

The Financial Pilot :

@E The Don final one

2023-06-09 21:29:58

Courtney :

9% ?? Where did I hear 30% lol or is that total debt ? Urgh thanks for the tip!

2023-03-29 20:50:49

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