When To Pay Your Credit Card Bill And Increase Your Credit Score!!!
Вставка
- Опубліковано 18 жов 2024
- Welcome to my MissBeHelpful channel!
Let’s connect:
PATREON: / missbehelpful
FACEBOOK: / missbehelpful
INSTAGRAM: / missbehelpful
TWITTER: / missbehelpful
More from MissBeHelpful:
Get Your Credit Score FREE Today: bit.ly/2K8OYID
Improve Your Credit Score QUICKLY: bit.ly/2MngUW7
Common Credit Card Myths: bit.ly/2tsmcZd
5 Things to Consider When Applying for a Credit Card: bit.ly/2tAUCZ7
Credit Card Rewards: Do's and Dont's: bit.ly/2KhKApV
How To Read Your Credit Card Statement Like A PRO: bit.ly/2MmnNqB
How To Improve Credit With Limited Or No Credit History: bit.ly/2KhKVcb
Best NEW Way To Improve Credit - NO CREDIT CARD Required! (Self Lender): bit.ly/2yDSd5L
How I Use the Grace Period to Avoid Paying Interest/Push Payments Back: bit.ly/2tyBJWv
How My Friend Saved HUNDREDS With A Balance Transfer: bit.ly/2MVHCWO
How To Earn Rewards Without Hurting Your Credit Score: bit.ly/2yDSGox
Why I Don't Care About A Perfect Credit Score & You Shouldn't Either: bit.ly/2lxMuFa
Should I Invest or Pay Off Student Loan Debt?: bit.ly/2yDSOEx
Will Closing A Credit Card Lower My Credit Score?: bit.ly/2Ir8RFm
How Does Credit Card APR Work?: bit.ly/2Khsepi
When Should You Get Your First Credit Card: bit.ly/2KgXnWC
How Do I STOP Wasting My Money?: bit.ly/2yFPgl6
Can I Keep My Oldest Card Without The Annual Fee: bit.ly/2MWr7JR
How to STOP Online Shopping Too Much!!!!:
bit.ly/2K2gR54
3 BAD Financial Habits To Break NOW!!: bit.ly/2tyA973
TOP 5 Recommended Money + Personal Finance Books!!!: bit.ly/2yCJXmh
’Til next time… PEACE!
I'm not sure what's happening in these comments, but I found this helpful, so thank you!
Lol fr
Lots of people seem to be building a new home and others are enduring hardships...
Right!! All these bots strugglebussing in the comments xD
I had been doing the typical 30% utilization for years. 1 day I accidentally used only 5 dollars on a 200 credit card. My credit score shot up 83 points. Now 7% is the highest utilization I will go.
How many credit cards do you have?
I watched many other credit card videos regarding the same subject and by far you explained it the best. You didn't need any pie charts or graphics, just straight forward clear explanation. Thank you so much. New Subscriber here! Keep the good content coming!
AYYYY thank you for this 🙏🏽
@@missbehelpfulhi I’ve had a credit card for two years and at a 775 seems like forever it says I use 0 percent out my card I pay Netflix each month and when I started I paid right away so I’m actually a month ahead and been nervous to fix that but not sure if that will not let me get more credit or just stay the same I pay it off as soon as I see the Netflix went threw I dnt wait for a bill that’s what I was told to do from a credit place that it won’t hurt it but seems like it dnt help much either or is it cause I only have one card I thought two years I’d be at 800 mark
@@missbehelpfuland not sure if staying at 0 percent is good I do use it like I said for Netflix and I did get more credit line to use but not sure if should use a little more now that I did cause I not use around 17 dollars for 3800 limit idk if I pay one more bill if that will help or won’t matter to much or if it’s just how I’m paying it
I’m going to just be real I have been searching all over and asking everyone I know about this, and NOBODY gave me this clear of a response!!!! This is EXACTLY the info I was looking for.....THANK YOU!
I got it now... Well said! Straight to the point...
Thank you! This video cleared it all up. So I can use my card all month (earn 2% cash back) as long as I pay most of the balance before the statement date, got it!
Basically pay down your balance before the statement closes during the month. I paid mine down and only $14.00 was reported to the credit bureau.
lasbagman1 Yup! You got it now go get that high credit score! Lol
LOL
How do u kn Whn the stamens close??
How much the interest was the following month
THANK YOU! I just got approved for my first credit card last week! This video made this paying cycle business finally make sense to me! I’m about to watch every video in the description 🥳
YASSSS 🙏🏽
My credit score went up to 100 for just 2 mos. if you have 2 or more CCs and can’t really pay them off in full for some reason, have the payment due really far apart from each other. Try to pay the whole due balance on one CC the exact date and don’t use it until closing date have passed while you use the other CC. Estimate the dates when to use your CC and when to pay each one of them.
The due date & closing dates are different. Your statement will give you both of the those dates. You can pay the minimum payment before or on the due date but to raise your credit score, pay your credit card off or to at least 10% of your credit card's credit limit before the closing date. The closing date is when they report to the credit agencies. The due dates are before the closing dates. Make sure you at least make your minimum payment by the due date and pay it down to 10% before the closing date. The closing dates for my credit cards vary between 3 & 6 days after the due date. I usually pay my credit cards down to below 10% the day before the closing dates. Get a credit monitoring service like Credit Karma & your credit report will show you exactly when your credit card company reports to the credit agencies. I know it sounds confusing but it's really very simple. Once you get the hang of it, you'll have a routine every month & your credit score will begin to go up 😎
I am looking at my statement for the closing date I don't see anything! My date is due Sept 15th but I'm looking to pay the entire bill this month. Would that be too early? And will it show on my credit this month?
This was the clearest explanation I've seen. Thank you very much.
Thank you!
You explained it soo well, better than the other 20 videos I've watched. 😩🙌🏾
Hahahaha omg how did I miss this comment!??
Okay so just to be clear.
I just got my first card to begin building my credit score. It is solely for that purpose, I do not need it to pay bills.
My dates are
Due: 14th
Closing: 17th
Is the best strategy to spend like $10-$100 on different expenses. And pay them off immediately/before the 14th of every month and keep my balance at 0 up until the 18th? I literally only have the card for building my credit, so any feedback would mean a ton!
You are 100% correct. You just need to make sure your card balance is at 0% by the 14th. Also make sure you don't use the card again until the 18th.
Hey Hawksnet has this method been working?
There is nothing more to life than working with paragonofficials.com credit company, because i thought it was all over when i went bankrupt due to my business that lost it sales in the market board it ruined my credit report and i lost points on my credit score but fortunately a colleague of mine that had same issue who has he way back already and fast referred me to working with them and how her life had been a good one. i decided to try them out and i got my standard back in the market board because they removed all Bad reports o my credit, cleared and removed all charge offs and credit card debt and boosted my credit score from 640 to 804. they work with good values and authentication. they also fund paypal and bank accounts. if you have similar isuues, i mean you need a good credit report why not visit paragonofficials.com and whatsapp(302238-6817), paragonofficials@gmail.com we all deserve to be happy!!!
I don't see the reason for the dislikes. She explained the topic, perfectly. Imo. If you ARE concerned with having the highest scores, pay by the closing date. If you are NOT concerned with having the highest scores, pay by the due date, because when applying for credit in the future. It would show that you're actively using the credit card. On the other hand, you want to max out your credit card (monthly) to show the creditor that you're using the max and is worthy of a credit line increase (either by asking or automatically), but pay in full by the closing or due date (monthly). Best way if maxed out: pay 91% by closing date (monthly). Pay the remaining 9% by due date (monthly). Example: credit line of $1000 × (91% of this) 0.91= $910 pay by closing date. $1000 × (9% of this) 0.09 = $90 pay by due date. This method is the best option. Trust me!!! Hey if you're unable to apply this method, don't max out your credit card/s. Some say less than 30% is fine. Some say less than 10% is best. I'd say the less the better - is why I went with those numbers.
Great video as usual! A good strategy, in my opinion, is to make the closing date your "NEW" due date. Paying your card in FULL on the CLOSING date will make them report your balance as ZERO to the credit bureaus as you said. Simply go to your cards page and find out when is the closing date, write that down on a calendar and make your card payments on the CLOSING date. Educate yourself to do that every month. Usually, on CHASE cards the closing date never changes. I guarantee that when checking credit Karma your reported credit usage will be ZERO all the time. I've been doing this for years and my utilization ratio is Zero.
Hey mAn when it report as zero doesn’t boost your credit score higher when u paid it in full by the closing date?
@@enrealty6431 no u shouldn’t pay in full by the closing date… u should pay anything that exceeds 9-10% by the closing date. For example if I use 40% of my credit limit, I would pay off 30% of that to drop it down to 10% by the closing date ( u can even go lower to 8% by paying off 32%) but I should never pay in full by the closing date. When ur due date rolls around (usually a couple days after the closing date) u can then pay off the rest of the balance (aka the remaining 10%).That is the only time u will be paying in full. If u pay in full by the closing date, ur credit report/ bill will be $0 due on ur due date. This is the number that the credit bureaus will see and they will think u are not using ur credit card at all (because again they only see the closing date number and no spendings that we’re payed off before the closing date) . So to stay safe u want to at least have 8-10% still in there after the closing date so it shows the bureaus that u are actually utilizing ur card. This will help ur utilization score and help boost credit faster. I tried making it simple! Did that help? Lmk if u have any questions! 😊
In simpler terms spend however much u want on ur credit card but make sure to pay it off until 10% is remaining by the closing date! Then pay off that 10% on the due date! So credit bureaus will see that u “only used 10%” that whole month! Which shows u know how to limit ur utilization very well! If u show u used 0% like this guy does it shows that u aren’t using ur card at all and it could be scene as potential fraud and or unnecessary so they can cancel ur credit card.
@@kelseaito2925 Credit B dont cancel ur card. If i use 20 percent of my card and i pay off entirely by the due date is PERFECTLY FINE. People are always trying to trick the system. THE Credit B will get ur on time payment and balance. THATS more than enough for A credit... Poeple obssessed about gettting that 850. Im fine with my 735. And i have been doing this all my life ... Paying off the entire amount before the due date...
😭 this helps so much
THANK YOU!
Very clear voice, smooth accent and professional etiquette.
I can't be the only one who was beyond confused about this particular arena!
Your cleared up the storm love !!!
;)
Wow! 5 Minutes of What I was looking for... Thank You so much! All other videos usually leave me on the same spot since Credit scores and Percentages are kinda hard at first! But You explained it really good!
this is the best explanation so far compared to other youtube videos, this was super straightforward and gets to the point. thank you so much for helping other people!
Ah you’re welcome! Im so glad it was helpful 😍
You want to get your balance to $0 that will avoid interest and raise your credit score. My credit score is over 800 my balance is always paid in full.
Chris Baker yes when that due date hits pay it all the way to zero!!! #teambehelpful
Thanks, my balance has always been on $0 I wasn’t sure if I was doing right
@@missbehelpful So I can actually avoid the interest and pay it in full AND STILL RAISE MY CREDIT SCORE???? Because it sounded like you were saying that the only wait to raise my credit score is to have it at 10%
So there are a couple of things she is saying or implying in the video although she may not have addressed them specifically. Debt Utilization: If your credit score was based on a 100 point scale, then "Debt Utilization" accounts for 30% of that score, or 30/100 points. So on your statement closing date, if your balance due is 10% or below of your credit limit, that is considered excellent utilization and you might get 25-30 points towards your credit score in this category. But if your balance is 50% of your credit limit on your statement, that is considered fair or even poor to some and you might only get 15 points in this category. So you should think about this process and determine which situation do you want to be in that is going to MAXIMIZE the points you receive in this category. You could keep it under 30% or under 10% but you will get MORE POINTS if you keep it under 10% even though in either case your credit score will raise if you pay on time and nothing else changes.
@@MrGrandeflipper So is keeping your utilization at lets say 7% better than, paying it all off every month and keeping it at 0%??
makes so much sense. I ve been thinking about this and came to youtube to see if someone else had been thinking the same thing. Those who are confuse are confused because they dont understand the terminology. Very simple technique.
There is nothing more to life than working with paragonofficials.com credit company, because i thought it was all over when i went bankrupt due to my business that lost it sales in the market board it ruined my credit report and i lost points on my credit score but fortunately a colleague of mine that had same issue who has he way back already and fast referred me to working with them and how her life had been a good one. i decided to try them out and i got my standard back in the market board because they removed all Bad reports o my credit, cleared and removed all charge offs and credit card debt and boosted my credit score from 640 to 804. they work with good values and authentication. they also fund paypal and bank accounts. if you have similar isuues, i mean you need a good credit report why not visit paragonofficials.com and whatsapp(302238-6817), paragonofficials@gmail.com we all deserve to be happy
Being new to the credit card game, I used to leave a $0 balance on my statement date. Then 3months ago I saw somewhere that leaving something there like 1% before the statement date is ideal. That's what I'm doing now, and now my credit score jumped up a few points.
Hmoob Mikah Dennis Massie Hey, anyone told you it’s impossible to increase your credit limit or credit score? Talk to pataltucher at Instagram. He is really good and reliable. Made it possible increasing mine from 528 to 685 and still going through a simple method we fail to know. Also got my credit limit increased.
I love rewatching you're videos.
I got it. I have a 0 balance across all three cards I have. I went to the grocery store today and spent $23 cash. I should have charged this amount to help in the rewards area of my credit card. Sometimes I get too focused on keeping a 0 balance.
dieyoung I do the same thing lol
@@slayer45670 you should be charging EVERYTHING, then paying it off with the cash instantly... by paying cash you are losing out on credit score increase and rewards.
Just to make sure I understand, if I'm trying to build my credit score I should pay before the STATEMENT CLOSING date IF I spent more than 10% just to get the balance I owe, BACK to 10% and that would be reported to the credit card bureaus right?
ANOTHER QUESTION
What if I never spend above 10% of my credit card limit and pay 3-5 days in advance before the PAYMENT due date will that raise my credit score?
You explained a whole seminar in 5 mins!!!
AHA! Got it now! I was always paying before my due date and leaving a zero balance. Thank you!
This literally confused me more
Let me clarify what she means which is good advice...
If you look on your credit card bill statement you'll see a date which is the START of your billing date and next to it the END of the billing date. If you keep your balance at 10% (or lower) of the credit limit by the END of the the billing date that will be reported to the credit bureaus. Honestly you can keep it at 30% or lower but 10% is a better percentage and can boost your credit score faster
Example: Let's say your credit card limit is at $500. If you keep your balance at $450 (DO NOT SPEND MORE THAN $50 which is 10% of $500) by the END of the billing date that will be reported but looks good to the credit companies so shortly in time they will increase your credit score.
The rule for everyone is to keep that balance at 10% of the credit limit every month and they will keep increasing your score. They want to see that you can make payments over time and not overuse your credit limits!
Just make sure that you don't exceed the 10% threshold and you make sure you pay the entire balance by the due date (this will show up separately on the credit card statement as something like "Payment Due Date")
@@romeezee6426
Since I am concerned about BOTH, not having to pay interest AND helping my credit score, which should I focus on?
If I am understanding what MissBeHelpful is saying, that if it's the latter--which affects my credit score because that's what the Bureau focuses on, then I have to FOCUS on the STATEMENT Closing Date.
But if BOTH matter to me-- is it safe to assume that I should STILL focus on the STATEMENT Closing Date, because that would automatically mean I paid in time to avoid the interest AND the bureau was able to see it in time for it to count towards my credit score too? Or not necessarily?
@@romeezee6426
BTW
Thanks for laying it out for @Zack, because I felt more confused after watching it--HEARING/LISTENING to it as well.
I'm more of a visual learner and her just SAYING it was NOT painting the mental picture I needed since I am EXTREMELY ignorant on this specific subject. So it really wasn't on her. I actually felt like if I had had more understanding coming in that she would have been perfectly clear to me. Alas, this video may not be for a BEGINNER beginner like myself.
But READING your example brought more clarity, because then I got the picture better. I'm gonna subscribe to her because I can tell she knows what's she's talking about, but since I am new to this world I'ma make sure I find some UA-camrs that meet my visual learner needs-- as well as my novice needs. Thanks.
Ok..heres what i came up with...I'm maintaining my credit score..when i leave the 9/10% I'm going to automatically pay the intrest rate because of it right? And if i just pay my credit card off by the due date..i get no credit towards my credit score???
@@romeezee6426 by doing it just like that..so every month we have to pay an interest rate right?? My due date is on the 27th..my closing date is on the 1st or 2nd...isn't that backwards??
you have a great talent in explaining stuff, God bless and thank you
I like the way you contrast the people who are laser focused on NEVER PAYING ONE CENT in interest ever, and the group of people who are primarily focused on increasing their credit score. (even if they pay a small amount of interest from time to time) These two philosophically driven camps do exist, and it's refreshing to see someone speak to that reality in a Credit Card related video. Thanks!
Thanks for this video. I have a question. Would the fastest way to increase my credit score be to pay it off in full before the payment due date or leave a small balance of around 9% on there after the closing date, then pay it?
Thumbs up on this video 👍🏿
Sorry I just need to clarify if I understood it properly. So please don't hate me if I don't.
I got my first credit card today. Limit is 300. Let say I spent $300 already. Before my statement day closes I paid $270. Which shows $30 as my active balance. then pay off the rest before due date.
is that what you're trying to say? thanks you!
YoNurse On duty exactly!
How many days do you recommend to pay bills before statement date closes?
MissBeHelpful thank you!
Plssss!! I absolutely loved this video!! Very helpful especially with setting out the examples of what we're trying to obtain in the long run
You explained it so perfect 🤟🏼
When i don’t understand, everyone understands.
When I understand, no one understands lol
So you should pay the bill down to 10% before the due date?
There is nothing more to life than working with paragonofficials.com credit company, because i thought it was all over when i went bankrupt due to my business that lost it sales in the market board it ruined my credit report and i lost points on my credit score but fortunately a colleague of mine that had same issue who has he way back already and fast referred me to working with them and how her life had been a good one. i decided to try them out and i got my standard back in the market board because they removed all Bad reports o my credit, cleared and removed all charge offs and credit card debt and boosted my credit score from 640 to 804. they work with good values and authentication. they also fund paypal and bank accounts. if you have similar isuues, i mean you need a good credit report why not visit paragonofficials.com and whatsapp(302238-6817), paragonofficials@gmail.com we all deserve to be happy
never close out a credit card after paying it off. keep it open. it keeps your score up.
Black shark swimmer thanks 🙏🏿
Bc it would lower your average credit history length. The length of your credit history factors into your overall credit score. It also keeps you’re available credit higher so that when you use other credit cards your total utilization will be lower.
Even with a secured credit card?
Thats a myth. When you close the card the history of that card stays on your report. Of course you wont continue to have growing history with that card because its closed. Yes the lowering of your available credit limit could drop your score.
The Answer DON’T CLOSE IT YET. If u can pay off ur cards or as much as u can and then GO AND APPLY FOR DISCOVER OR CAPITAL ONE CARD. AND AFTER YOU GET APPROVED FOR ONE OF THEM. Then You can. CLOSE THE $99 anual fee card.
Thank you for this great breakdown.. If you could do a numbers chart I think that would help even more... You really shed some light on some things I didn’t know about. Thanks again.. :)
lol for the confused people (i was confused too but i got it now lol)...lets say u have a $5,000 limit card and u bought something for $4,000, make sure u don't wait till the due date to pay it off.
make sure u pay most of it off (not all...leave a little balance to show the credit bureaus you're active with your card) by the closing date instead...if u wait till the due date then your utilization will be sky high
Thanks miss helpful when you already have a clue but still not sure ..is when this video comes in handy
It doesn’t help me at all. Confused me more
So you basically can spend the whole credit card balance long as you pay 90% of it back before the statement gets reported.
You are correct, but 91% not 90%.Also you only do that if you're looking to ask for a higher credit limit.If you're looking to maximize your credit score pay off 100% of your balance.
I paid my credit card bills really early and my score went up from 634 to 653 in just 1 month. I'm planning to pay early every time from now on! My goal is to get to 700.
how early and how much?
I have a question I’m 19. Just got my first credit card; a secured credit card from Bank of America. I have 300.00 credit and I have a payment due date of April 15th and a closing date of April 18th. I only plan to use 90.00 each month but when and how much should I pay off to boost my credit score the best? Sorry if my question makes no sense
Nice! I love your hair by the way!
Marcos Fermin thanks you!
Dennis Massie Hey, anyone told you it’s impossible to increase your credit limit or credit score? Talk to pataltucher at Instagram. He is really good and reliable. Made it possible increasing mine from 528 to 685 and still going through a simple method we fail to know. Also got my credit limit increased.
Thanks to *@Darkjacob* on *telegram* that provided me with enough methods I could choose from and now I’m making cool cash with less stress I can vouch him to the world 🌍 this is a life changing opportunity, he sell live cc with high balance, dump and pin, fullz , SSN 💯
How does paying it off immediatly impact credit scores?
If you pay off in full before statement closing date then it reports zero balance to the credit bureaus. You want to show a balance at least once or twice a year.
There is nothing more to life than working with paragonofficials.com credit company, because i thought it was all over when i went bankrupt due to my business that lost it sales in the market board it ruined my credit report and i lost points on my credit score but fortunately a colleague of mine that had same issue who has he way back already and fast referred me to working with them and how her life had been a good one. i decided to try them out and i got my standard back in the market board because they removed all bad reports on my credit, cleared and removed all charge offs and credit card debt and boosted my credit score from 640 to 804. they work with good values and authentication. they also fund paypal and bank accounts. if you have similar isuues, i mean you need a good credit report why not visit paragonofficials.com and whatsapp(302238-6817), paragonofficials@gmail.com we all deserve to be happy!!!
You taught me something just now
Thank you
There is nothing more to life than working with paragonofficials.com credit company, because i thought it was all over when i went bankrupt due to my business that lost it sales in the market board it ruined my credit report and i lost points on my credit score but fortunately a colleague of mine that had same issue who has he way back already and fast referred me to working with them and how her life had been a good one. i decided to try them out and i got my standard back in the market board because they removed all bad reports on my credit, cleared and removed all charge offs and credit card debt and boosted my credit score from 640 to 804. they work with good values and authentication. they also fund Paypal and bank accounts. if you have similar isuues, i mean you need a good credit report why not visit paragonofficials.com and whatsapp(302238-6817), paragonofficials@gmail.com we all deserve to be happy!!!
Hmm... are you sure?
Cause I just got my first credit card last month.
I’m 36. Haha
I was raised NO CREDIT CARDS.
But now I’m building my credit,
I’m a 634 with no negative marks , just went up 22 points from last month before the card.(personal loan and paid it off)
Bank of America told me it doesn’t matter how much I spend of my limit , just pay it down and leave $10 bucks due the day after my closing date.
I only spent $125 of my $500 limit so I should be good either way as I wanted to stay under 30 percent to be safe.
I paid it down the day after closing but left $10.00 due.
So you think I did it right or what do you suggest?
I’m going up every month and trying to get to the 700’s soon.
Should I open up one more credit card and do the same thing?
Advice is appreciated.
Thank you lovely young lady.
Christopher Paul YUP your $10 strategy is correct because that’s less than 10% of your $500 limit.
So, if I didn’t use my credit card and left the balance due at 0 every month would that be ideal to build credit..?
@Manu Lealao, no. You must spend at least something so the credit bureaus know that you’re using credit. Ideally %10 of your credit limit.
No, you want to try to use the credit card at least one time each year to keep it "active" otherwise they will close the credit card on you because it is "inactive" if not used at all.
There is nothing more to life than working with paragonofficials.com credit company, because i thought it was all over when i went bankrupt due to my business that lost it sales in the market board it ruined my credit report and i lost points on my credit score but fortunately a colleague of mine that had same issue who has he way back already and fast referred me to working with them and how her life had been a good one. i decided to try them out and i got my standard back in the market board because they removed all bad reports on my credit, cleared and removed all charge offs and credit card debt and boosted my credit score from 640 to 804. they work with good values and authentication. they also fund paypal and bank accounts. if you have similar isuues, i mean you need a good credit report why not visit paragonofficials.com and whatsapp(302238-6817), paragonofficials@gmail.com we all deserve to be happy!!!
This is a very confusing topic for most folk. I didn't fully 'get it' until I saw a video that explained it with visual aids. If u cover this topic again in the future, I thinks it would be helpful if u explained it with a copy of a credit card statement showing the billing cycle with statement closing date & or with a calendar (showing statement date, grace period & payment due date).
With that, peeps can see the difference between 'statement' date & grace period that leads up to the 'payment due' date. Now It will be easier for peeps to understand when is the best time to make their payment....either a) pay balance off 'prior' to statement closing date which will be reported to the bureau for that billing cycle - for optimal score......OR b) pay during grace period 'prior' to payment due date - for timely payment (with minimum payment) or pay off to avoid interest charges.
There is nothing more to life than working with paragonofficials.com credit company, because i thought it was all over when i went bankrupt due to my business that lost it sales in the market board it ruined my credit report and i lost points on my credit score but fortunately a colleague of mine that had same issue who has he way back already and fast referred me to working with them and how her life had been a good one. i decided to try them out and i got my standard back in the market board because they removed all Bad reports o my credit, cleared and removed all charge offs and credit card debt and boosted my credit score from 640 to 804. they work with good values and authentication. they also fund paypal and bank accounts. if you have similar isuues, i mean you need a good credit report why not visit paragonofficials.com and whatsapp(302238-6817), paragonofficials@gmail.com we all deserve to be happy
Thank you so much for this video!! I wasn't sure I was going to find the answer to my question, this helped clarify ❤️❤️
Chelsey Bridges You’re welcome! Glad it was helpful :)
There is nothing more to life than working with paragonofficials.com credit company, because i thought it was all over when i went bankrupt due to my business that lost it sales in the market board it ruined my credit report and i lost points on my credit score but fortunately a colleague of mine that had same issue who has he way back already and fast referred me to working with them and how her life had been a good one. i decided to try them out and i got my standard back in the market board because they removed all Bad reports o my credit, cleared and removed all charge offs and credit card debt and boosted my credit score from 640 to 804. they work with good values and authentication. they also fund paypal and bank accounts. if you have similar isuues, i mean you need a good credit report why not visit paragonofficials.com and whatsapp(302238-6817), paragonofficials@gmail.com we all deserve to be happy!!!
Ok so we pay it by our closing day not our due date because by our due date its too late? Doesn’t our due date come first tho? Is it me or she just confusing us more?
Nope! Due date is always after statement closing date. If you see a statement closing date that is after the due date, then that means the closing date is for the NEXT statement cycle.
With all sincerity, I mean this to be a compliment. You remind me of Amy Santiago from Brooklyn 99 haha
Facts
Dead on
You broke it down well, Madam. I have been doing it wrong all this time paying off everything before the closing date and thus zero balance gets reported, sometime with a positive balance😕... lack of knwledge.
You were doing to correctly. You want to pay off everything before the closing date. If you pay off everything you maximize the amount of points you receive.
There is nothing more to life than working with paragonofficials.com credit company, because i thought it was all over when i went bankrupt due to my business that lost it sales in the market board it ruined my credit report and i lost points on my credit score but fortunately a colleague of mine that had same issue who has he way back already and fast referred me to working with them and how her life had been a good one. i decided to try them out and i got my standard back in the market board because they removed all Bad reports o my credit, cleared and removed all charge offs and credit card debt and boosted my credit score from 640 to 804. they work with good values and authentication. they also fund paypal and bank accounts. if you have similar isuues, i mean you need a good credit report why not visit paragonofficials.com and whatsapp(302238-6817), paragonofficials@gmail.com we all deserve to be happy!!!
So at the end of my billing cycle I should allow about 9% to be posted on my billing statement for my fico score?
You got it right.
Thank you girl! This is the best explanation I've heard. Subscribed!
I had 0 in score 2 years ago and then I used the card for 3 month straight and got it to 650
So basically pay majority(a huge chunk) of the bill by the monthly due date(the same date your credit card company requests a payment every month) and then have 10% remaining to be paid once the statement is sent to the bureaus to show good utilization to trick them into boosting your score more points and quicker. I wouldn’t recommend doing this for a long time because you can get lazy and confused the longer you do it.
Thank you for this video! This helped a lot
Erik Medina You’re welcome! Thanks for watching and commenting :)
There is nothing more to life than working with paragonofficials.com credit company, because i thought it was all over when i went bankrupt due to my business that lost it sales in the market board it ruined my credit report and i lost points on my credit score but fortunately a colleague of mine that had same issue who has he way back already and fast referred me to working with them and how her life had been a good one. i decided to try them out and i got my standard back in the market board because they removed all Bad reports o my credit, cleared and removed all charge offs and credit card debt and boosted my credit score from 640 to 804. they work with good values and authentication. they also fund paypal and bank accounts. if you have similar isuues, i mean you need a good credit report why not visit paragonofficials.com and whatsapp(302238-6817), paragonofficials@gmail.com we all deserve to be happy!!!
Legit ??I brought a cc from *Cardermanager2* on telegram best vendor I know and very trustworthy. He sell cc,fullz,Bank,Drops,and Dumps.
Thanks for this video.
So from what you have said here.
If you want to increase credit score by optimising utilization. You will need to pay some interest on your credit card. Because for you to pay down to 10% , u will pay the credit card company interest on the 10% .
Damilola Asepo NOPE! You only pay interest if you leave a balance AFTER the due date. I’m saying leave a balance after the CLOSING DATE and pay it all by the due date to avoid interest! Good Q!
This is interesting. so if you want to maintain a good credit score is paying your credit earlier before your statement closing date.
Yup. But leaving a tiny amount to get paid on the due date so you show good history of on time payments!
Logan Morgan Yes that's the best way to build ur credit score
Thanks a lot. Extremely crucial information to know.
Very welcome!
There is nothing more to life than working with paragonofficials.com credit company, because i thought it was all over when i went bankrupt due to my business that lost it sales in the market board it ruined my credit report and i lost points on my credit score but fortunately a colleague of mine that had same issue who has he way back already and fast referred me to working with them and how her life had been a good one. i decided to try them out and i got my standard back in the market board because they removed all Bad reports o my credit, cleared and removed all charge offs and credit card debt and boosted my credit score from 640 to 804. they work with good values and authentication. they also fund paypal and bank accounts. if you have similar isuues, i mean you need a good credit report why not visit paragonofficials.com and whatsapp(302238-6817), paragonofficials@gmail.com we all deserve to be happy!!!
I honestly wish I cld like this video twice your channel has made my day.Thank you and keep up the good work👏🏾💯
So are you saying that if I pay my balance in full before the due date, that will not help boost my credit score? I have to leave 9 or 10% balance? I’m confused. Also, how do I make payments on a credit card without a balance transfer APR fee?
When you say 10% or less left as balance, are you talking that % from the allowable credit line? So credit line is 10,000 you want balance 1000 or less prior to closing date.
Cathy Flamme Yup! You got it!
Best way to explain this is for example. Tom has a 300 limit. His statement date is the 9th of October. He racks it up to 280 dollars. Pays 275 of it, so that it leaves 5 dollars in your active balance. Keep that till the statement date. That's when the credit bureaus will see that you only spent 5 dollars of 300, resulting in a a very low utilization rate. Rule of thumb is to keep 2.01. Shows 0% and shows as active. Anything less they will charge it off and you won't owe anything and might end up showing as not active on your credit score. You want anywhere from 0-18% utilization.
Oranje Guice umcan u expain that to a under educated 29 year old who knows absolutely notjing about what u mean kinda have to say it like ur speaking to a 10 yr old ......
@@mrrivera8496 there's 3 things you have to worry about "billing cycle" ex: JAN 3rd to FEB 4th whatever amount is due by the 4th will show as your statement that is the "statement date" (FEB 4th in this case, this is the amount that has to be under 10%) then you will have until the "due date" ex: FEB 26, if you pay the amount on your "statement" completely before the "due date" you wont be charged interest
@@WayneJohn-fq6cn Hi! Please correct me if I'm wrong... (I'm new to the cc world) If I buy $300 worth of groceries, I should pay $270 before or the day of my billing cycle (I'm unclear if it can be paid the same day as my billing cycle ends) which in this case would be Feb. 4th and the remaining $30 I should pay on my due date which in this case would be on Feb. 26th not to get charged any interest?
Thank you for explaining this I am one that needs to keep credit score high! I left 1 percent before statement date and it totally raised my credit score!
Hi there,
I have a question, what happened if my credit limit is $500, which every month I used more that $1000, so every time my credit card get up to $500 I pay off all balance and start using again. So in end of the month I make a payment all balance before due day. It's bad for my credit score to do it because I'm using more that 100% utilization ? Or it's fine because and the end of every month I pay off all balance ?
This is what I learned through my research:
Pay off all your balance except 7% of credit limit BEFORE statement closing date. Then the statement shows only 7% credit utilization at statement date, which is reported to credit bureaus. Using 7% credit utilization at statement date credit reporting bureaus love for some reason (I have no idea why). Pay off the 7% before the statement due date to prevent paying interest. This system requires making two payments a month (one before statement date and one before due date), but will eventually increase your credit score by showing revolving credit without having to pay interest. This will also maximize the amount your credit card company will extend to you.
The day before the statement closing day (not the due date), pay it in full and begin using the card after the closing day.
No. You want to pay your bill by the due date. Then you should not use it again until after the statement closing date.
There is nothing more to life than working with paragonofficials.com credit company, because i thought it was all over when i went bankrupt due to my business that lost it sales in the market board it ruined my credit report and i lost points on my credit score but fortunately a colleague of mine that had same issue who has he way back already and fast referred me to working with them and how her life had been a good one. i decided to try them out and i got my standard back in the market board because they removed all Bad reports o my credit, cleared and removed all charge offs and credit card debt and boosted my credit score from 640 to 804. they work with good values and authentication. they also fund paypal and bank accounts. if you have similar isuues, i mean you need a good credit report why not visit paragonofficials.com and whatsapp(302238-6817), paragonofficials@gmail.com we all deserve to be happy!!!
💜💜💜💜💜 good info!
Thanks Amber!
There is nothing more to life than working with paragonofficials.com credit company, because i thought it was all over when i went bankrupt due to my business that lost it sales in the market board it ruined my credit report and i lost points on my credit score but fortunately a colleague of mine that had same issue who has he way back already and fast referred me to working with them and how her life had been a good one. i decided to try them out and i got my standard back in the market board because they removed all Bad reports o my credit, cleared and removed all charge offs and credit card debt and boosted my credit score from 640 to 804. they work with good values and authentication. they also fund paypal and bank accounts. if you have similar isuues, i mean you need a good credit report why not visit paragonofficials.com and whatsapp(302238-6817), paragonofficials@gmail.com we all deserve to be happy!!!
I watch so many videos and this was the best one !... broke it down soo crazyyy thank you !!!
My utilization is 4% or 5% every month. 💪
that's a really good utilization rate!
@@DayanaPlays indeed. I'm still keeping around the same percentage every month. Lmao
How much are you spending if you don’t mind
Well when my credit limit was 200 I was spending 5% (10.00) of my credit limit. My credit limit is 1800 now I'm spending between 3% (54.00) and 5% (90.00) now.
Girl all these other “finance youtubers” got nothing on you 🔥 you explained it perfectly thankss love 🙏🏾it really help♥️♥️
Thanks to *@Darkjacob* on *telegram* that provided me with enough methods I could choose from and now I’m making cool cash with less stress I can vouch him to the world 🌍 this is a life changing opportunity, he sell live cc with high balance, dump and pin, fullz , SSN 💯
Thank you so much for breaking this down so well! Would it be better to pay off my debt in full before the statement closing date or leave 9-10% for the statement, and then pay it off in full on the (due date)?
Thanks again
Leave 9% of your credit limit so that it reports on your statement. Then once the statement gets issued and shows that 9% you left on the card, pay it before the due date. I would never have all of my credit cards report 0% utilization because FICO will deduct points for that.
@@MrGrandeflipper Is the interest calculated at the statement close date or the due date. In other words, by paying the balance off in full by the due date, am I avoiding the interest charges?
@@angelaeast1895 Yes. If you pay off your statement balance by the due date, you will not pay interest on that balance.
I’m confused here. Like when tf is the due date? A month ? day after you use the card ? or a week?
For example if I were to use my card to get gas and I used 70-80 on full tank when do I pay the card??
Or honestly what’s the best time to pay of the card
Pay on time
So very True
No matter what you are paying Interest every month if you are not paying your card amount in full. So for example if you have a 0 balance on your card and you go buy a TV for $500. When you receive your bill with a minimum payment of $20 and you pay $500 then you will not pay interest. But if you pay only $100 then yes you pay interest. And you pay interest every month till the card is paid off.
Accruing/paying interest every month does nothing for improving your credit score. What does improve your score, is payment history and on time payments, combined and your debt to credit ratio or utilization rate.
The 10% percentage is only what you want to aim for if you can’t pay it off, as rising upwards of 30% will negatively impact your score.
Greyson Seth Yup! That’s why I say pay balance down by statement closing date and the. pay rest in full by due date! Agreed!
10% rule is for greatly increasing your credit limit
There is nothing more to life than working with paragonofficials.com credit company, because i thought it was all over when i went bankrupt due to my business that lost it sales in the market board it ruined my credit report and i lost points on my credit score but fortunately a colleague of mine that had same issue who has he way back already and fast referred me to working with them and how her life had been a good one. i decided to try them out and i got my standard back in the market board because they removed all Bad reports o my credit, cleared and removed all charge offs and credit card debt and boosted my credit score from 640 to 804. they work with good values and authentication. they also fund paypal and bank accounts. if you have similar isuues, i mean you need a good credit report why not visit paragonofficials.com and whatsapp(302238-6817), paragonofficials@gmail.com we all deserve to be happy
So I don't pay the full amount on the due date but I will have to keep it at a low percentage(30%) until the statement closing date- keep it below 10%? Thank u again. I am grateful.
but if you dont pay the full amount on the due date wouldn't that mean we would have to pay interest? GOD IM CONFUSED ... like I wanna boost my credit score but i also dont wanna pay interest
@@CesarSanchez-nu3eo I know right. I do know if you pay it in full you will not have to pay the interest which in my case I love but if you want to work on building your credit we will have to pay the interest and follow the whole steps of keeping it below 30% than 10% and pay it off and start all over again.. 🤦♀️I think lol
Pay the balance down to a really small number on the statement closing date. Then on or before the due date you pay in full and never pay interest while also boosting your credit score.
@@missbehelpful thank you so much. You're very helpful especially in my case trying to build my credit.
Dude, thank you for this.... broke it down big bird style
Zachary Spillers LOL
This is the most clear and understandable video ai seen all day. Thank you 🙏🏽🥳🤩👏🏾🙌🏾
Glad it was helpful!
How can I find out when my statement closing date is?
It will say the opening and closing dates on your credit card statement!
@@missbehelpful Thank you!
Can you pay it down ON the closing date? I know payments post same day if paid in the morning. So could i pay on the morning of the 23rd if the closing date is the 23rd?
Sure I don't see why not. Try it and see how it affects your credit score. To be safe I usually pay down the day before.
@@missbehelpful I normally pay way before the closing date, I just happen to get paid on the closing date this month. So it will probaby make it into my account at like 2am the day of. Normally any payments made by 5pm, are reflected the same day
LOVIN THAT NEWS ANCHOR HAIRSTYLE YOU ROCK IN! NICE!
Wow that was so helpful. I kept paying it before the due date and waiting for the statement. Of course this meant I wasn't paying interest. But I was wholly unaware that this practice was affecting my score. I have to list down my statements for the past months and see how badly Ive done it for myself HAHA. Thanks!
I’m confused still🤷🏾♂️
Have your credit card balance be below 10% of your total available credit by your statement closing date. You do this by either paying the "total balance" down or in full. As long as you get it below that 10% mark. And your score will go up exponentially.
Reffa / okay when you have you’re balance lower than 10% do you still pay it all off on the due date or you just leave it under 10% all the time ?
Due date is after the statement closing date always. If you see a statement closing date after the due date then that closing date is for the NEXT statement cycle. So leave a small balance of 10% or less by the statement closing date and then pay that off in full by the due date to avoid paying interest fees.
There is nothing more to life than working with paragonofficials.com credit company, because i thought it was all over when i went bankrupt due to my business that lost it sales in the market board it ruined my credit report and i lost points on my credit score but fortunately a colleague of mine that had same issue who has he way back already and fast referred me to working with them and how her life had been a good one. i decided to try them out and i got my standard back in the market board because they removed all bad reports on my credit, cleared and removed all charge offs and credit card debt and boosted my credit score from 640 to 804. they work with good values and authentication. they also fund paypal and bank accounts. if you have similar isuues, i mean you need a good credit report why not visit paragonofficials.com and whatsapp(302238-6817), paragonofficials@gmail.com we all deserve to be happy!!!
video made alot of sense, my only question is, for new people who just opened a credit card account, what would be the best way to pay off card to start with a good credit? or it doesn’t matter?
jdl _18 Divide your limit by ten and never leave an amount more than that as your balance. When your due date comes you’ll only owe 10% or less of your limit which will give you a great score for utilization!
Is there not ANY OTHER WAY to have credit without a damn credit card?
geewhiz747 yeah , have a car payment ... and make your payments on time
Go talk to a financial person that with a bank... there are other ways but I would go talk to someone that it’s their job to know
Pay your rent with Bank checks
You can take out a bank loan or buy a vehicle and finance it. But that’s really the only way
Should you leave a little to be shown on your statement? Or should you just pay everything off before the statement is made?
Always pay full bill each month to avoid interest fees.
Check this video for an example of how I do it: ua-cam.com/video/_djpGzJ3uks/v-deo.html
There is nothing more to life than working with paragonofficials.com credit company, because i thought it was all over when i went bankrupt due to my business that lost it sales in the market board it ruined my credit report and i lost points on my credit score but fortunately a colleague of mine that had same issue who has he way back already and fast referred me to working with them and how her life had been a good one. i decided to try them out and i got my standard back in the market board because they removed all bad reports on my credit, cleared and removed all charge offs and credit card debt and boosted my credit score from 640 to 804. they work with good values and authentication. they also fund paypal and bank accounts. if you have similar isuues, i mean you need a good credit report why not visit paragonofficials.com and whatsapp(302238-6817), paragonofficials@gmail.com we all deserve to be happy!!!
You lost me at Statement closing date 😂
Jrod Gallardo lol
Frfr😂 so is it the due date?
what’s the best utilization would for two cards? One is $500 and the other card is $200. Do you keep each card under 10% or do you add the cards together and stay under 10% from the total of both cards? This is so confusing to me having two cards. Thanks!
I’m confused yo 😂 can you repeat that?
Legit ??I brought a cc from *Cardermanager2* on telegram best vendor I know and very trustworthy. He sell cc,fullz,Bank,Drops,and Dumps.
Very helpful thank you 🙏
So if my bill is 420 what should my balance bill
Veronica Key Always leave a zero balance on the due date to avoid interest!
Depends on your limit
Veronica Key ur balance can be 30$ because of the fee and u will have to make the payment very earlier to build ur credit score
So it's better to show you spent at least 10% at the end of billing cycle? Will that help raise score more than showing just a 0 balance?
To be honest, I had to replay this video a few times to understand it fully because her beauty was distracting me.
There is nothing more to life than working with paragonofficials.com credit company, because i thought it was all over when i went bankrupt due to my business that lost it sales in the market board it ruined my credit report and i lost points on my Creditscore but fortunately a colleague of mine that had same issue who has he way back already and fast referred me to working with them and how her life had been a good one. i decided to try them out and i got my standard back in the market board because they removed all Bad reports o my credit, cleared and removed all charge offs and credit card debt and boosted my credit score from 640 to 804. they work with good values and authentication. they also fund paypal and bank accounts. if you have similar isuues, i mean you need a good credit report why not visit paragonofficials.com and whatsapp(302238-6817), paragonofficials@gmail.com we all deserve to be happy
Woooow! This was so helpful. Thank you!
I guess my card company is backwards. The due date is before the closing date
that closing date is for the NEXT statement cycle.
I understood this, what my question is are you claiming that I have to accumulate debt (10% of limit) and must pay interest to my credit card company in order to build credit? In other words, if I am avoiding interest, I am not building credit?
You clearly did not understand what she said. You do not have to pay any interest or accumulate debt to build your credit. Watch the video again, she said multiple times you need to leave the card on 10% for the statement but pay it in full before the due date.
You’re so pretty
Thanks you explained it very well.
I’m confused lol I need a visual with numbers lol but you sound so sweet and nice.
Look at this video where I give an example of how I do it: ua-cam.com/video/_djpGzJ3uks/v-deo.html
I can say I finally understand now thanks to you