Hello everyone! I’m starting this journey to lower my DTI, qualify for a home, and boost my credit score by addressing a few recurring items on my report. I’m also hoping to launch a business this year to build passive income for my family.

Did you know you can pay your credit card ON TIME every single month and still have a high balance reported to the credit bureaus? Here’s what most people don’t realize... Your due date and your statement closing date are two different dates. 📅 Due Date: The date your minimum payment is due. Paying by this date helps you avoid a late payment. 📅 Statement Closing Date: The date your billing cycle ends. The balance around this time is commonly what your credit card company reports to the credit bureaus. So let’s say: Your credit limit is $1,000 Your balance is $700 Your statement closes on the 20th Even if your payment isn’t due until the 15th of the following month, that $700 balance could be reported when your statement closes. That would show 70% utilization! 😳 Instead, try paying your balance down BEFORE your statement closes. For example, if you pay that $700 balance down to $90 before the statement closes, your reported utilization could be around 9% instead of 70%. 🔥 A simple credit card routine: 1. Find your statement closing date in your credit card app or statement. 2. Pay your balance down BEFORE that date if you’re trying to keep reported utilization low. 3. Pay your remaining statement balance by the due date to avoid interest, assuming your card has a grace period and you’re not carrying a previous balance. And remember, 30% utilization is not the goal. It’s more of a ceiling people commonly hear about. Lower utilization is generally better for your scores, and you do NOT need to carry debt or pay interest to build credit. 💬 HOMEWORK: Go check one of your credit cards right now. What’s your statement closing date? Drop it below! 👇