When To Pay Your Credit Card Bill (Everything You NEED To Know)

In this video, we go over when to pay your credit card bill to avoid interest and when to pay your credit card bill to increase your credit score! Trying to read a credit card statement may seem like a challenge, but this breaks down a credit card statement. Click "Show More" to see Ad Disclosure.
Hopefully, the example credit card statement in this video will help you to know the terms and the best time to pay a credit card. If you are someone that is looking for how to build credit and when to pay off a credit card, then this information will be extremely useful!
First, we break down the most important dates to know from one of my Chase credit card statement such as the billing cycle, statement opening date, statement closing date, and payment due date. Next, we go over the amounts to understand such as the statement balance, current balance, and minimum payment due. And finally, we answer some common questions that many people seem to have about their balance, credit utilization, but most importantly, when to pay a credit card bill!
Make sure to check your own credit card statement to compare it to mine by rewatching this video if you need to! There will always be some differences between timelines and wordings for each credit card issuer. I hope this information is useful in terms of credit cards for beginners and credit cards for people that may have struggled with credit in the past!
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CHECK OUT SOME OF MY OTHER VIDEOS:
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My Strategy To WIN With Credit Cards In 2022: • My Strategy To WIN Wit...
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DISCLAIMER: Some of the card links and other products that appear on this website are from companies which Daniel Braun will earn an affiliate commission or referral bonus. Daniel Braun is part of an affiliate sales network and receives compensation for sending traffic to partner sites, such as CreditCards.com. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not include all credit card companies or all available credit card offers.
The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
Daniel Braun is not a financial advisor. This video is for entertainment and educational purposes only, it is not financial advice.
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[@ktsd4353]

yo real quick, i didn’t even notice you don’t have too many subscribers but i wanted to let you know the quality of your videos is A++++ and i love what you talk about! keep it up

[@Daniel_Braun]

Haha thank you so much for saying that! Yeah the subscriber number is something that I know will grow over time because I only started the channel back in January. Really glad to hear that you like the videos, I appreciate the support! 👍

[@hitzoneproductions7858]

@@Daniel_Braun You're truly doing a fabulous job. Thank you so much.

[@AmineHamlouchi]

Omg I've been watching his videos for so long but I never realized he doesn't have much subs, he deserves way more

[@Daniel_Braun]

Thank you! Haha yeah I’m still only about a year and a half into my channel so hopefully the subscriber count will keep growing over time!

[@jomarcarloorlanda2940]

😅🎉🎉

[@landolockss]

One thing I did as a beginner was open up another checking account through your bank, 99% of the time you can open another one for free and often times get bonuses. Every time you pay for something with your credit card, transfer that money into the second account. This way you’ll never get a false sense of buying power 🤝

[@TZPK]

That's a good idea! Thanks for sharing!

[@TonyRome402]

I am actually part of the 800 club for a long time now, but times change and I like new and relevant information. Thank you for an excellent explanation of credit card debt.

[@lumerii]

This video was incredibly helpful as someone who has just gotten a credit card and wants to be informed and educated on credit cards so I don’t make a mistake that could impact my life negatively in the future. I learned so much from this video so thank you and keep helping people to make the right decisions and be more educated on topics like this.

[@michealmclaughlin429]

why you sound like a bot

[@lXxImabeastxXl]

@@michealmclaughlin429 bro tryna sound professional 💀

[@a.clemons]

Me too. This guy is the messiah ❤

[@KAGIICHII]

Wish they taught this in school. Haven’t got a credit card yet but I’m glad I’m learning this now before I do get one. Thank you🙏🏽

[@BestProfessionalAdvisors-bt2eo]

Thanks!

[@Daniel_Braun]

Just seeing this now - thank you so much for the super thanks!! I really appreciate the support!

[@lscott9263]

Been binge watching your videos for a week now. You and Sebby have been some of the most helpful when it comes to the credit card game. I am getting started late in life with understanding the basics; such as this video. Very thankful for your desire to educate others in this arena of life. You are hands down the top among many I have been watching recently; in your clarity, delivery, and transparency on this channel. Subscribed 👍👍

[@JMott]

I think it's great that you do these videos. when I was young I got credit cards and just thought that something you do as an adult get credit cards, spend, pay. I ran into trouble spending too much and also not having steady income. ended up in debt. luckily it wasn't deep debt but still debt that was a pain in my butt. I would say young/ clueless people shouldn't get credit cards based off of my own experience but I know young and clueless people will still get credit cards. The internet to their great advantage has people like you explaining their bills and cycles etc. something I didn't have at 18 something I'm watching at 30!

[@Daniel_Braun]

Thank you so much for sharing your experience and saying all of that! Yeah credit cards are not always going to be a good option for people depending on the situation, but the most important thing is to learn about them which is definitely an advantage that many will have growing up now! I love making these videos and talking about this stuff, so thanks for watching!

[@alfredo9850]

@@Daniel_Braun just turned 18 and I have a secured credit card on the way so I can build credit. I have a fairly good paying job with consistent hours. I'm researching as much as I can so I can use my credit card to my advantage as much as possible. Thank you for the great video, I'm looking forward to using my card to pay for gas as well as some groceries.

[@hahashipem._.6294]

Getting a credit card is definitely important to start building credit. It's just good to have someone that helps explain how to use it correctly

[@imagiins]

This is an incredible video. i’m 19 and trying to get my head around credit cards and how to start building my credit score. this video has entirely helped me to understand how credit cards actually work, and not just what they do. haven’t seen your channel before but i’m definitely subscribing, you seem very knowledgeable. keep up the high quality videos 👏🏼👏🏼👏🏼

[@TravelsofaHeadbanger]

Budget ahead monthly. I usually pay a few times a week. If I see a balance I pay it. Every dollar is accounted for. Cool video. Great Info

[@Daniel_Braun]

Thanks so much for watching and commenting! Yeah that's a good strategy, budgeting is so key! And paying down a balance is always a good thing too

[@MsTheartofwar]

This video really helped me out. I literally called my bank 3X today to ask the same questions and I was still confused. You cleared that all up. Thanks

[@moisdawg]

I've also asked my bank to clarify some pretty simple points, like the ones mentioned in the video. But they usually just don't explain it well enough to not have me watching these videos instead. So you're not alone with that lol

[@cooper_kikuta]

Great video! I’ve always set my credit cards to auto pay the current balance on the due date. I’m going to have to look up the billing cycle on each of them and add that to my spreadsheet as well now!

[@Daniel_Braun]

Thanks Cooper, appreciate it man! Great to hear that you're organized like that and have a spreadsheet!

[@jasminerodriguez3103]

Would you be willing to share your spreadsheet I’m 19 years old trying to build my credit and I’m very new to this

[@kavonhawks962]

Your videos are very helpful. I just turned 18 and got the discover it card and was nervous about when I should pay it off and how much. Thank you for explaining it so well!!

[@Lucas-nf9xc]

Same haha

[@IIIIIIIIIIIIII8]

@@Lucas-nf9xc same

[@Krysimplas]

I've been using credit card and making payment but I didn't understand the breakdown as your explained in the video. This actually did help me understand how credit card works, because prior I get confused when I make the minimum amount payment but the I see an interest charge. But now it all make sense. I Just have to make sure I make my Statement Payment in full before the due date. Thanks again Daniel, I really appreciate you.

[@evanmelton3315]

This channel is very underrated! Great info for somebody like me who just got their first credit card.

[@Daniel_Braun]

Thanks so much Evan! Glad that the info was useful to you after just getting your first card! 👍

[@G.I.JeffsWorkbench]

Great explanation of the key dates to know. Every high school in America should make seniors watch your short video. It would increase financial literacy for everyone as they start their “adulting” journey.

[@Daniel_Braun]

Thank you so much! I really hope that students can watch my video to learn! I really wish that I was taught this in high school

[@cinatelli]

Your video finally gave me clarity on how to pay my credit card I’ve been struggling with this for years. Thank you! New sub 🙌

[@Daniel_Braun]

I love to hear that! Thanks so much for watching and subscribing!

[@sjg6158]

A very simple video with some fantastic tips. The easiest tip of all...if you can't pay your balance in full, don't charge it. We've talked before, but your tip to pay items that are larger quickly is a great tip if you have the immediate cash flow to keep that utilization down. Good stuff Danny!

[@Daniel_Braun]

Thanks so much Scott! Yeah exactly, only pay with a card with an amount that you know you can pay back immediately if you have to. And yeah, if you have a larger purchases like that then its a good idea to pay it down to avoid utilization getting too high by the closing date

[@ChideraaApakama]

I love your videos ! As a beginner credit card user, the tips you give are super helpful ! Subscribed 🙌🏾

[@romintarromintar2708]

Great video! Some of them were already taught to me by my mom way back years ago when I was just starting to live independently. But still most of them are so informative. God bless you

[@JacobKustra]

Great video! Definitely one of the first things anyone getting in credit cards needs to learn!

[@Daniel_Braun]

Absolutely! It seems so much more complicated than it actually is! Thanks so much Jacob 👍

[@aaron3763]

Very Informative! Just to clarify, if my credit limit is $10,000 and I spend $5,000 but pay off $4,900 before the closing date so that my remaining balance becomes $100 then pay the remaining $100 before the due date, my credit utilization will be 1% instead of 50%?

[@akmaljonqosimzoda8909]

No

[@patnotpatrickplays6344]

Great presentation! Simple and straight to the point. Question: once the ending cycle is reported to the bureaus, when do the bureaus update the credit report? For example the ending date was the 11th (not the due date just the reporting date). Is it okay for me to start using the card on the 12th or wait a few days?

[@k8gixser]

You can use it right away , as it will be reflected on the following cycle

[@Jorgefloresofficial]

This video is what I have been looking for !!! Thank you so much for being very specific and showing images to help better understand !

[@Ben-ih1zj]

The diagrams and statement pictures helped me so much great visualization bro 👏💪

[@ericnathan.]

Great video! The graphs/numbers are really helpful, and I feel prepared to get my first credit card

[@r.massattack4052]

I've been doing it backwards. I make my payment on time but add an additional monthly payment 1-2 days before my statement closing date. My credit has increased over 100 points in the last year by doing this.

[@EliSuarez07]

@Daniel Braun keep going with your channel man. Your content is always on point. Simple and easy to understand. 💯🙏🏼

[@Daniel_Braun]

Thanks so much for saying that Eli, I'm always trying to keep things as simple as possible to hopefully help anyone learn! Appreciate the support 👍

[@RichardAEagan]

Great visual flow chart of billing cycle and statement opening & closing tree...

[@emejay4631]

Learned so much about credit cards in 1 hour from your videos Thanks 🙏🏾

[@Daniel_Braun]

That’s awesome, I love to hear that! Thank you so much for watching my videos, I’m glad they were helpful!

[@JustADudeDoingSomething]

Hello, I'm very new to the credit game so I just need some questions answered. Question 1: Can you just set up an automatic plan so that the bank just automatically pay it off in full for you, or do you have to call them to pay it off? Question 2: How do you pay it off? Do you use the money in your checking account, or savings account? Question 3: Can you still hold a debit card, or should you just cancel it? Question 4: Does a debit card affect your credit score? Thank you so very much for making very informational videos for us young kids who are struggling in the adult world.

[@Daniel_Braun]

Thanks for watching, I'd be happy to answer those! 1: You can setup automatic payments with most credit card issuers so that you just automatically pay off your statement balance in full by the time it's due each month. Definitely a good strategy so that you don't accidentally miss a payment. 2: You can pay it off with any linked bank account. Typically I like to use my checking account to pay bills like this and I use my Savings account just to keep savings in. 3: Yeah you should still have a debit card too. If you open a checking account, a debit card will come with that which you can then use to go to ATMs or to pay for things instead of a credit card. Debit cards don't offer much rewards or benefits, but they are a lot safer than credit cards - so only use credit cards if you do a lot of research first to fully understand how to use them responsibly 4: No a debit card does not affect your score. It's basically just a card that's links to the money in your checking account Hope that helps and feel free to check out some other videos on my channel that should explain this stuff a bit more!

[@JustADudeDoingSomething]

@@Daniel_Braun Thank you so much. 🙏

[@KeelyB2318]

I'm way to old to not have known all of this. Thank you so much.

[@Bazonkaz]

Best youtuber on credit card management.

[@Daniel_Braun]

Thank you so much for saying that, I really appreciate it! Lots of great channels out there talking about credit cards so that means a lot to hear!

[@Bazonkaz]

@@Daniel_Braun you have the personality and energy I simply don’t see in the others. Keep it up. Also, WE ARE!

[@Daniel_Braun]

Thank you again! - and PENN STATE! Love to see the PSU support haha 👍

[@numm_sayinn7145]

Maynnn thanks so much for giving clarity!! I was transfering on the spot after a transaction 🤣🤣

[@WavesOfSoundarya]

Things you explained can be simplified further. I feel you gave an answer in the first statement & that was enough. Don't try to deviate when you are trying to explain each term or concept.

[@QueenSorrow5150]

2 yrs later this info is very useful 😊

[@annas7715]

No one should graduate from high school without this knowledge.

[@Failfer]

Only half way through but really good explanations, I was really hesitant to use credit cards since the idea of debt kinda sucks. But if I only buy what I can pay then and their and pay it off the benefits do seem kinda dope. Thank you for hopefully helping me mess up less

[@Daniel_Braun]

Thanks so much for watching! Yeah that's exactly the idea with using credit cards the right way! Having an emergency fund of cash on the side and a budget to understand your spending is also really helpful and important

[@dnlprls]

You are so awesome bro. And i really appreciate you do not assume that everybody can afford to pay their entire balance like so many other KZbinrs do. Keep up the great work.

[@JeffAboularage]

Great Video. I am new to credit cards, as I’ve been a cash payer for everything for so long just working crazy hours. I didn’t understand it, and when it didn’t work when I tried to I wanted to avoid it more. So if I understand you correctly… We want to leave a “ utilization balance of 1% to show responsibility” to the Credit bureaus at the statement closing date, and then pay off the remaining amount before the bill due date to have a zero balance and avoid interest charges? Thanks again for doing this.

[@Daniel_Braun]

Yeah that's pretty much it! If you're balance is low relative to your credit limit on the statement closing date, then a lower utilization will be reported which shows responsible use of credit and helps your score. Then you'll have about a 3 week period between the statement closing date and payment due date to pay off that statement balance in full to avoid interest. Thanks for watching and glad it was helpful!

[@fredericojulio]

What if you make purchases with the credit card one day before the closing day and those transactions might take up to 5 days to be processed, will they affect your credit utilization? Or pending transactions won’t affect your credit utilization report?

[@pamelacallaway3922]

Great explanations of the terms, ramifications and strategies of credit card usage.

[@leratomphahlele3999]

Great video! Question: closing statement date is 12, the opening statement date is 13, and the payment due date is 01. Between 13 - 30/31, I make purchases and pay the balance before 01, is my interest charged on the last day (closing statement date), or is it a daily interest charge?

[@rachels7264]

This video helped so much as a first time credit card holder. Thank you, just subscribed!

[@DME-jm8ex]

So I have a Chase freedom flex card and I love the benefits what I do is pay my Current balance In full every time after I use it so I've maintain a $0 account balance. My limit is a $1000 And I lost 15 points on my score because my Is balance increased But only $43 I didn't miss a payment. So if my utilization rate is so low why didn't drop my score so much bc of this? And how do I prevent this from happening again?

[@envypex7524]

Did you figure out what the problem was ?

[@412foto]

do they typically list these opening and closing dates on your online account management or just the printed bills/statements?

[@Zeke-21-4]

^

[@n8dogg2121]

Great info I haven’t seen on the KZbin before good going! Baseball type henley with two-tone 吧.

[@Daniel_Braun]

Thanks Nathan, really glad to hear you liked it! Haha yeah I found this Henley that I haven’t worn as much lately. I definitely gotta go shopping for some more to switch it up lol

[@BescoShorts]

Bro I got my first credit card watching your chase video , got a 1500 limit too Thanks Brotha🙏🏽

[@Daniel_Braun]

Love to hear that! Thanks so much for watching!

[@ryanvargez9312]

i love the constant upload!! Can't wait for the next video. I've seen your channel grow since you were at 1k!

[@Daniel_Braun]

That's so awesome, thanks for being around from so early on Ryan! I can't wait to keep uploading more and more this year!

[@mykh79]

Strive to pay the entire balance or at least a little above the minimum payment due, a day ot two after the current months statement closing date. That gives you almost 60 days before another payment is due on a rolling basis. Then make a second payment, as much as you can afford, a few days before the statement closing date each month to ensure the lowest balance you can afford to carry is what's reported. This method allows you to efficiently take advantage of 0% apr offers which can save you a ton in interest. But high utilization on that one card may slightly impact your scores. Your call.

[@Daniel_Braun]

A very interesting strategy, but was glad to see you say that this is for 0% apr offers because otherwise it would cost interest. Definitely something for people to consider if they want to plan it out like this to take advantage of the timing of cash payments. I personally don't like using 0% offers, I just prefer to pay in full every month, but I understand that some people may need to take advantage of these things like this so definitely could be something to carefully look into! Thanks for watching and commenting 👍

[@astleycl]

Your video is such a blessing for those like me starting to build credit score. I just want to ask if this is a right approach to build credit score because someone advise me that the best way to pay your credit card balances is to pay it right after you made a purchase using the credit card to make sure that you dont accrue interest and you dont go beyong your 10% utilization. Hoping for your insight about this. Thanks. 😊

[@heidirivera5203]

If my statement Is AUG 3 when do I have to pay it off by? Time too?

[@connermcmanus6755]

Stupid question but what’s the importance of waiting after the statement closing date and before the due date (aka grace period) to make the payment? Does the payment positively impact your credit score if it’s during the grace period?

[@michaelchang5269]

Thanks for the video! Super well done. Quick question. If I make purchases AFTER my payment due date but BEFORE the statement closing date, how does this affect my credit report and how would it affect my credit score. I have autopay turned on for the full statement balance but was curious about what happens if I make purchases during that roughly one week period between payment due date and statement closing date. Thanks!

[@danimotherofchickens479]

Did you figure this out, wondering the same, there's is a fico score penealty if u have a balance on too many cards (also if you have zero balance on all cards)

[@dantheman754]

Really appreciate this video, I’m just starting out and it been really helpful in planning out my credit card journey before I apply! I do have a question tho: is it bad to have a 0% credit utilization by paying everything off early? I’ve been noticing that you don’t pay off the full balance before the snapshot by the payment due date, and I was wondering if that was intentional.

[@Jess-ei2yj]

very informative video, thank you! I do have a question though, my payment due date is today (19th) and I have already paid in full, but when can I start using my credit card again?

[@HDorce12]

I’ve been binge watching your videos for the last 2 days. This is day 3… these videos are necessary what I wish I knew then. I would have been less hesitant on opening a credit card. So helpful, thank you. Can you please make a video on closing/ cancelling cards how to go about it based on credit history, without it affecting credit score too much ?

[@7gators7fan7]

If you can, don’t close the credit card, but look to downgrade to a credit card with no Annual Fee. If your credit card already has no annual fee, you’re better off not to cancel it. Just keep it and occasionally make a small purchase on it to keep it active. This will be much better for your credit score.

[@HDorce12]

@@7gators7fan7 Thank you for replying, very helpful 😊

[@Daniel_Braun]

That's so awesome to hear, thank you so much for watching my videos and I'm glad that they are helpful! Yeah I'd love to make a video about that. I completely agree with what @Cubbies34 said in their comment, very smart to think about closing cards / downgrading cards like that! I always keep no annual fee cards open

[@codymichaud6898]

Love your video keep it up. I was wondering if I buy something on my credit card then pay it off right away do I still get the points for that account or do is their a waiting period.

[@ocean2754]

In regard to making purchases after the Statement Closing Date, just to make sure, that added purchase outside of the Statement Closing Date will be added to your Current Statement Balance, but the payment won't be due until the Pay Due Date following the NEXT Statement Closing Date. Am I understanding this correct?

[@avres13]

Thank you so much for your helpful videos, it’s made a big difference when rebuilding my credit!

[@octaviaj1010]

So should you pay it after closing date? During the grace period?

[@ShotsOfWhiskey]

This is my new credit account. So when should I pay and should I have it on auto pay. I will pay the statement as I go so that by the time it closes it is a smaller utilization. It says my auto pay is set for the 5th of every month

[@sergiomontenegro2254]

I have a question. I’m confused with the credit utilization. If I have $500 in credit and spend it all in one day but pay it off the next day or on time before my statement closes, will that count as maxing out my card and bring my credit score down or will it help my credit score to go up as long as I have a balance of 0 before my statement closes?

[@leepicstitch]

Reporting a balance of 0 looks to other lenders as you not using the card. Maxing out your card and paying it off usually looks bad to the issuing bank (it's called credit cycling and some lenders (i.e. Amex) really dislike it). It won't count on your credit report as maxing out the card. Lenders report either your statement balance on the date your statement closes or the balance of your card on a certain date.

[@lyndalekimflores6359]

aloha,my question to you is can i pay my credit card with my debit card? That's the question i wanted to answer sir. I'm just wondering if what's the best thing to pay my credit card?

[@shidozu]

so as long as i pay my statement balance before 21 days has passed since it closed and before my due date. that’s golden right?

[@Daniel_Braun]

That's right! That's the way to do it - and just keep your credit utilization low at the same time when the statement closing date comes around

[@margaretm162]

You are absolutely wonderful! I am so glad I found your channel.

[@Daniel_Braun]

Thank you so much Margaret - glad the information is useful!

[@moe6313]

what is the utilization if you have a card with no spending limit? My Amex Plat doesnt have one

[@biga5774]

Your videos are very helpful. I have the CFU and Cap One Quicksilver. Every video I’ve seen says the Chase FU is better as far as cash back but I have a higher limit on the Quicksilver! I got a dilemma!

[@esdrasquiros7368]

Discover posts fico credit score and states credit score as of …”. Should payment be made before THAT date if it’s different than my statement closing date?

[@periux100]

So ,I just have to pay my statement balance by the due date every month and that is it right?Thanks🙂

[@oceanthresher6184]

I pay my full balance every few days. Is there a downside to doing so?

[@erayeda.t]

I have a couple of questions! 1. Is it ok to utilize as much of the balance as one wants, as long as on the closing date its at an ideal utilization rate? Lets say on a card with $500 limit, you make a puchase of $400 and pay it off immediately, before the close date (or maybe $395 to stay above 0%). 2. Is the balance paid off once you submit payment or after the payment is processed (if you're paying through another institution, for example). 3. Is it advisable to close secured credit cards, so you can get your deposit back, once you've opened another credit card? I know you said the age of the account factors into your scores. Thanks!!!

[@suefanelli6204]

Extremely helpful. Very well explained!

[@michealmuga1658]

Great content! With so many cards,how do you view inquiries?

[@Daniel_Braun]

Thanks Michael! I don't worry much about inquiries since I'm not applying for too many cards too frequently. They only have a short term effect or credit scores as well

[@Ninja_Samurai-dd3kq]

This is very informative but this applies worldwide or the payment due period various bank to bank even in Canada?

[@allisonmuench4218]

thanks! only recommendation would be if you talked a little slower when verbally explaining calculations. maybe you have this video already but if you could (little more slowly) walk us through like a monthly billing cycle to show how you end up with last month's previous balance on your statement. That's the part I'm having a hard time understanding, since I pay off my credit card ever month and am not charged interest. otherwise great video, best credit card statement explanation ive found!

[@GamerUprise]

This is a super good video. Good job.

[@SamAnandW]

can i pay my loan before billing day

[@Daniel_Braun]

You can always pay off your balance at any time! It's best practice to pay off your statement balance on time and in full before your payment due date

[@aidystackz1792]

Does your statement date start when you make your first purchase

[@kieracherry1893]

Grace period for a credit card means what? Like this grace period allows me time to spend for it to be on my next billing cycle or time to pay before the payment is due.

[@martinyoung779]

From my research we don't get our Credit Score raised if the reports to the bureau don't indicate that we have utilized credit, like in the scenario of just having the card at $0 balance and simply not using it. If we use the card then pay it back in full to a $0 balance prior to the Due Date, and the reports to the Credit Bureau month after month just indicate a $0 balance, will the report to the Credit Bureau secondarily indicate that we utilized the credit after zeroing out the balance to still get our Credit Score raised?

[@superflyherb]

stupid question but will the statement closing date be the same “day” (16th or 22nd just an example) each month ?

[@omidabrishamkar1587]

How do I know my credit limit for my Amex platinum charge card I’m figuring my utilization as it doesn’t have any set limit. Thanks I advance.

[@Daniel_Braun]

So there's no preset limit on the Amex charge cards like the Platinum. It doesn't have a credit utilization reported to your credit report

[@lesolanhny]

okay so say if i have a credit limit of $200 and i used $25 of it and i pay the $25 off on the 7th (due date) or a day before the due date and the 8-10th come and i only spend $2-$3 afterwards and my closing statement date comes (11th) it reports my utilization rate which is 2%-3% which is good right since i only used $2-$3 after my due date? basically how it works?

[@colem1177]

What do I do about transactions that are pending on the date I am to be receiving my statement? It’s my first cycle with my card. My current balance is $7 but I have transactions from yesterday that are pending and will put my utilization above 10%. I haven’t gotten it yet but today is the day I will receive my first statement I believe. What if those pending transactions go through before I receive my statement?

[@peterkondratowicz9771]

Great advice, learned so much! Q: I pay my bill in full, before the due date but after the statement closing date. In that period of ~3 days between the due date and statement closing date, is it okay to submit an additional payment (since I use my card all the time) so my statement closes with a low credit utilization? Thank you!

[@oliviaulch3195]

Credit utilization, gold, thank you for sharing!

[@yerickugalde1569]

Is the statement shated before the due date? Thanks for your time kind sir.

[@santibaez4039]

Why is not reccomended to make payments before the statement closing date. Is it true it increases tje daily interest for the next month

[@lienzednem1348]

Great vid, thanks for going through on how it is done

[@Thesla6]

so the best time to pay the bill is 3 days before the due payment?

[@johnnywang8452]

how do I know how much to pay in advance? As the monthly statement only comes out after the billing cycle ended?

[@achavez78]

Way I've always done it is I look at the date each account reports to my credit and be sure to make the payment at least two days prior (give it time to post) and in those few days I be sure not to use that card. I pay each account down to at least 9% or lower utilization rate. ....my way is probably the hard way; but as long as you got a system down you can consitently follow

[@Daniel_Braun]

Yeah that's a good way to do it Alex! As long as the card's statement balance is paid off in full by the payment due date then that's what's most important. Glad to hear you put some thought into how you pay it back 👍

[@pooyafarrokhi8968]

Awesome video Daniel! Your video cleared up every question I had.

[@jarynh7800]

So too sum it up. Have a low utilization before statement date 2-9%. Then pay full 1-3 days before payment date. Am I right or no.

[@Daniel_Braun]

Yeah I think that's a pretty good 2 sentence summary!

[@vishnurajiv99]

I am new to credit cards with 4 months of credit history and I had always wondered if I should pay off my current balance before the due date, or my statement balance. Last month, I had a statement balance of $121 and I made a 50$ purchase right after the statement closing date, but I thought I had to pay the whole $171 before the due date. This video has been really helpful for me, the explanations were very clear. Thank you!

[@Daniel_Braun]

Thanks so much for saying that Vishnu, I'm so glad to hear that the video was helpful! Yeah that example you just gave is a perfect example of what I talked about in the video, only that statement balance of $121 would be due on the payment due date. I really appreciate the support! 👍

[@krissy3980]

Hi Daniel! Love your videos. Why did you block out your 3 purchases lol? I wanted to know what you got 😂😂

[@Daniel_Braun]

Lol I don't even remember what they were so idk why I blocked them out. But thanks so much for watching my videos, I appreciate that!

[@ronaldomendoza4353]

So my statement date just passed and it got the 90% utilization reported so should I just pay it on the due date now because paying it sooner won’t help my credit score from being affected ?

[@jonathanmicday1620]

Grateful for your explanation

[@Daniel_Braun]

Thanks for watching, glad it was helpful!

[@artemdudnykchef1]

Can anybody answer if I set automatic payment exactly on due payment day. Will it okay? Will bank receive money on that day or because of the pending will I get late payment and better will be pay at least 3 days before due payment day?