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How to figure out when the statement cut date is so I can PIF before they report ?


Help1285
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I was trying to make sure I don’t allow any creditors to report a balance for any of my cards. I wasn’t sure how to figure out when they report. I called Capital One and asked when my statement gets cut each month and the representative didn’t know.   🤔  

I paid all my credit cards off as soon as they all reported a zero balance my Fico score dropped. It was higher when I was carrying about 2%

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The trick is "AZEO".  For highest score impact related to reported balances, you let only one nominal balance report (ideally, target $2, but not less than that).

 

A statement cutoff date is uniformly the same day of the month for most issuers.  Some vary their issuance by up to 2 or 3 days, with limited predictability.  The best way to determine when your statement typically cuts is to view online statements.

 

Achieving AZEO may necessitate suspension of card activity around the expected statement cut off date.  I targeted AZEO for a few months in advance of a mortgage refi.  (I was actually just trying to target reduced reported balances, with 8-12 otherwise reporting).  The exercise was a major PITA and I dispensed with it as soon as I closed.

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Ok thank you. Looks like for capital one it’s 13-16. I’m looking at the upper right corner of the online statement and it says date thru date. I’m assuming the second date is the cutoff 

 

I should only let $2 report on 1 card for maximum score increase? 

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30 minutes ago, Help1285 said:

Ok thank you. Looks like for capital one it’s 13-16. I’m looking at the upper right corner of the online statement and it says date thru date. I’m assuming the second date is the cutoff 

 

I should only let $2 report on 1 card for maximum score increase? 

 

Yes.  For example, my April statement shows:

Mar 04, 2022 - Apr 03, 2022 | 31 days in Billing Cycle

 

Apr 3 is the closing date of the statement period (the last date for posting of charges)

 

A couple of things to be mindful of:

 

If you had no balance reporting on your prior statement, then you need only schedule one payment to hit as close to the close date as possible, to set the balance to "0".   If you had a prior balance, then you will need to satisfy the minimum payment due that's a few days in advance of the statement cut.  If you use the card subsequent to that statement cut, you'll need to make another payment for those charges to set the statement balance to "0".

 

Again, the advice generally offered to see the maximum score benefit is to only let $2 report on the single account that you allow to report each month.  That said, I don't see modest variance from that amount as having any real adverse affect.  I would suggest, as a practical guideline, to keep the balance under 1% of that account's CL.

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I was trying to make sure I don’t allow any creditors to report a balance for any of my cards. I wasn’t sure how to figure out when they report. I called Capital One and asked when my statement gets cut each month and the representative didn’t know.    
I paid all my credit cards off as soon as they all reported a zero balance my Fico score dropped. It was higher when I was carrying about 2%

Things have changed and the statement date is no longer necessarily the same day every month.

There was legislation passed around 12 months ago that mandated that the payment due date be the same every month. Since most credit card issuers give you a grace period of 25 days, and considering that not every month has exactly 30 days, it's impossible the statement date remain the same on most months.

You need to calculate the statement date yourself. Look at a previous statement and find the payment due date and the number of days in your grace period. Then look at a calendar for the current month to see what your statement date will be.


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