Daniel Rosen explains how to boost your credit score by timing credit card payments strategically. The key is understanding two dates: the statement date, when your balance gets reported to credit bureaus, and the payment due date about 21-25 days later. Paying before the statement date keeps your reported balance lower.
The key to boosting credit scores by paying bills strategically is understanding when your credit information is reported to the credit bureaus. There are two important dates on every credit card statement, the statement date and the due date. The statement date is the last day of your billing cycle when your statement balance is calculated and your credit card statement is generated. It usually occurs around 21 to 25 days before your payment due date. This is also the day when your credit card balance balance is reported to the credit bureaus. The payment due date is the last day you can pay your credit card bill without incurring a late fee. You need to pay at least the minimum amount due by this date to avoid late fees.
