I have all my credit cards' closing dates in my phone calendar with a 5-day reminder. Easy to do, enter the date once and then select repeat every month.
I usually pay all of my credit card bills the first week of every month...but may use them in between...maybe that's why I'm not getting that maximum credit score increase. Should I pay my bills 3 days before the statement closing date on each account?
I pay off everything every month but let one small balance report on one card per month. I find when I pay them all to zero, my score is 10 to 15 points lower than when I allow a small (say $50) balance report.
Yes indeed, I did this on purpose, to let it drop ,but you get those points back in one credit bureau cycle. Downside is losing that reporting month. Staying under 10-6% is the lowest you can have it(imo) ,unfortunately if your credit score is 750+ from what I'm noticing.(my personal experience).I have very high credit cards limits, it doesn't matter. When I forget and pay off my credit cards to zero balance I get a 20 point hit everytime, I have to remind myself to pay it just past the statement balance that's due.
I have some questions. Is the best option to have a small amount less than 10% reporting for each credit card or as a total of your credit cards? And when do they usually add interests? My goal is to have good credit
@@barbieamica2023 I let a small balance report on one card each month. It’s usually one to two percent. I pay all the rest before the reporting (statement) date. On you card statement it will tell you when you must pay by to avoid interest charges. I have never paid interest on any of my cards and I am now near 800 FICO score.
Hey Naam, I just watched your video and I must say that it was really informative and well-made. I was wondering if I could help you edit your videos and repurpose your long videos into highly engaging shorts? I can also make high CTR thumbnails for your channel
For those lacking cash flow, how do you prefer to prioritize paying down credit card debt when you have multiple accounts? The debt snowball method? Or the debt avalanche method?
I use the avalanche method to work down the card with the highest interest rate, to save on interest fees over the long term. Once paid, then I tackle the next card with the highest interest rate and combine the snowball method here. Whatever dollar amount I used to CC1 will go to CC2.
If a current cc is offering a balance transfer(no hard pull, and has 2 times the avaliable credit limit) would you take it? It would stretch out the payment, pay NO intrest, and lower the overall utilization, as it's has double the avaliable credit.
