Paying A Credit Card Bill Tips
First know the dates - Second make on time payments - set payments on auto draft for the minimum payment due it will draft the minimum and it will draft it on time. If you want a great credit score, you need to pay off more than the minimum due which will lower your interest rates and lower your utilization which will show up on all three bureaus. If you can, make the payments before the due date. - Third don't use more than 30% of your credit limit because it reflects 30% on your credit report. To get your credit utilization, you would divide how much you owe by the amount of your credit limit. - it's the statement balance divided by the limit. 30% utilization is the maximum and 10% utilization or lower is the best it will reduce your interest rates and increase your credit score, and allow you to get an increase in the limits. The higher the limit is versus the balance the better it is for your credit score so paying on time, will help you get those credit limits increased. To sum this up 65% is the utilization and payment history it's worth working for. - Payment History is 35% of your credit score Statement balance vs. current balance: the statement balance is what is due after they have added up all the transactions during the billing cycle because the statement open date and the statement closing date is you billing cycle. Also you can get notification turned on when the billing cycle ends so you can make the payments after the billing cycle ends - then make the payment before the due date after the billing cycle closes. I'm far from being an expert on credit, but I got this information from a reliable source and I wanted to share it with the community. I'm just working on mastering one credit card which increased three times since I opened the account.