How to time credit card payments to boost score

Stellar Snippets

Paying off your credit card's outstanding balance on the payment date may not be the best solution for your credit score.

White Scribbled Underline

Here's how you can strategically time your credit card balance payments to actually increase your credit score.

White Scribbled Underline

Your credit card company reports your outstanding credit balance to credit bureaus on a particular date.

White Scribbled Underline

This is what credit bureaus use to determine your credit utilization ratio and generate your credit report and score.

Scribbled Underline

Focus on making your credit card payment right before your card issuer reports the balance to credit agencies.

White Scribbled Underline

You can ask your credit card company when it reports the balance or look at your credit report to see the date.

White Scribbled Underline

If you pay your bill before this date, you will have a low credit utilization ratio to remain an attractive borrower.

White Scribbled Underline

Keeping your credit utilization ratio as low as possible just before the reporting date will help improve your score.

Scribbled Underline

Make your payments on time. If possible, try and pay your balance in full so you can boost your score steadily.

White Scribbled Underline