This content was created by Daniel Rosen. This content was uploaded by Daniel Rosen. This is a YouTube video titled "The KEY To Increasing Your Credit Score - The Importance of Credit Cards!" created on January 2, 2024, featuring Daniel Rosen explaining strategies for boosting credit scores by understanding credit card statement and due dates.
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.
