Closing Date vs Due Date?

What Is a Credit Card Closing Date?

A closing date is credit card terminology for the last day of your monthly billing cycle, and when your monthly bill is generated, and your statement closes for that month.

Your statement closing date is also the date that your account’s balance and payment information are transmitted to the major consumer credit bureaus – Experian, Equifax, and TransUnion.

If you balance was $500 dollars on a 1,000-limit card on the closing date, it will get reported on your credit report $500 on that 1,000-limit care toward your credit debt utilization, which is 50 percent, I would keep if under 30 percent.

How do we get around this, to use your cards a lot to build that relationship with your credit card company

Then your will pay down your credit card 3 days before the closing date under 30 percent, so on the closing day shows a low debt and your credit score will not take a hit.

This will help to build that relationship with your credit card and not get a high debt reported on your credit report. And

So, if you are concerned about your credit scores, you may want to pay off as much of your credit card balance as possible before your closing date. And make sure you use your cards for food gas or whatever that will help you get a higher limit.

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