When to Pay Your Credit Card Bill to Increase Credit Score

Video Description

Want to know the best day to pay your credit card bill? This video will teach you 2 main methods so you can avoid interest and increase your credit score! Click “Show More” to see Ad Disclosure. 🚨 CREDIT CARD OFFER ALERTS! https://markscreditcards.com/offeralerts 💳👇 VIEW CREDIT CARD OFFERS! https://markscreditcards.com/offers 📲 MAXREWARDS - Manage your cards! Promo Code = markr https://markscreditcards.com/maxrewards 🛍 RAKUTEN - Earn Cash Back! https://markscreditcards.com/rakuten 💸 TOPCASHBACK - Earn MORE Cash Back! https://markscreditcards.com/topcashback 📲 PAY INVOICES BY CARD WITH MELIO! http://markscreditcards.com/melio 🏦 SOFI CHECKING & SAVINGS – Get $25! (or more w/ direct deposit) https://markscreditcards.com/sofibanking 📊 GET FREE STOCKS FROM WEBULL https://markscreditcards.com/webull 📊 GET FREE STOCKS FROM MOOMOO https://markscreditcards.com/moomoo 🔐 AURA – Identity Theft Protection & More! https://markscreditcards.com/aura 00:00 - Intro 00:33 - The Simple Method 3:20 - The Advanced Method 14:19 - The $0 Balance Scenario Your credit card bill (known as a credit card statement) has a lot of terms on it and understanding them is crucial to know when to pay your credit card bill. In short, there are 2 main methods to pay your credit card bill. 1. The Simple Method involves waiting to receive your statement and then paying the full New Balance on or before the Due Date. This will help you build credit, avoid interest, and get an on-time payment with ease. 2. The Advanced Method involves 2 payments. First, identify the Closing Date of your billing cycle (often the same day your statement is generated). Second, submit an early Payment (Payment 1) several days BEFORE that Closing Date. The purpose is to bring your current balance down to a level where it represents less than 10% of your credit limit. Third, wait to receive your statement, which will show the lower balance and the Due Date. Finally, submit your second payment (Payment 2) on or before the Due Date. Since your utilization is only reported once per month (often on your Closing Date), this method allows you to ensure a lower balance gets reported (and this helps increase your credit score). In the end, this will help you build credit, avoid interest, get an on-time payment, and increase your credit score faster and to higher levels. Disclosure: The thoughts, opinions, and information presented are those of the creator. This site is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com, YourBestCreditCards.com, and others. This compensation may impact how and where links appear on this site. This site does not include all financial companies or all available financial offers. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Mark Reese is not a financial advisor. #creditcard #creditcards #creditscore