When does the speaker recommend paying to reduce reported credit utilization?

Daniel RosenCredit Repair Business Mentor | Insights from 250+ Podcasts

When To Pay Your Credit Card! - Does This Hack Really Work?!

2 Feb 2024 · 1 min

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0:37

Daniel Rosen explains why paying your credit card three days before the statement date works better than waiting for the due date. The balance reported to credit bureaus comes from your statement date, not your payment date, so early payment keeps your utilization low and can boost your credit score.

Questions this video answers

Three days before the statement date (and wait for the payment to post before the statement posts).

Chapters

Not pay your credit card down on the due date? No, no, no. Pay your credit down three days before the statement date and wait until the statement posts. Why? Because a lot of people think that you pay down your credit cards when it's showing you the due date, but you end up paying on the due date and then after that you're using your credit card. Little do you know that the statement date is actually what's reported to the credit bureaus. And once you pay it down on the statement date, well, now or three days prior to the statement date and wait for it to post now, your credit score will drastically increase and keep your utilization low.