When Should I Pay My Credit Card Bill? - Improve Your Credit Score

What's that magical date where I pay my credit card in order to improve my credit score? Well, to know that, first you need to know the basics. Your statement date and your due date. So what's the difference? Well, your due date is the day where you have to pay all of your balance, otherwise you'll pay interest. Now, the statement date, that's the date where the credit cards report to the bureaus how much of your available credit you are using. In this case, I'm using 2,700 out of 22,000, so around 12%. Now, let's get to the magic. The credit bureaus want you to keep your credit card utilization between 1 and 9%, which means that on the day that it gets reported, on the next closing date or the statement date, your balance should be 10% or less of your maximum available credit. Make sure you keep your utilization between 1 and 9%, always, if you can. But if you can't, make sure you keep it between 1 and 9% on your closing date and five days after. So in this case, the 19th to the 24th of March. I'll make sure, no matter what, to have 10% or less utilization, and that way I'll improve my credit score.