PSA: I used to ignore credit card statements until the due date

I'd just pay the minimum and move on, which kept my score stuck around 620. After my car loan got denied in March, I started paying the full balance the day I get the email. My score jumped 40 points in 4 months. Anyone else see a big change from just paying earlier in the cycle?

2 comments

2 Comments

lunaw728d ago

Check your statement date too, not just the due date. Paying right after it closes drops the balance they report to the bureaus. It made a huge difference for my credit limit increases.

grayperez7d ago

Wait, you're telling me the timing actually matters that much? I always figured as long as you paid by the due date you were good. I used to let a big balance sit on my card for weeks because the payment wasn't "late." Now I see that just meant they were reporting me using most of my limit every single month. No wonder my score was just sitting there doing nothing.