It works only if You are in a position to pay it down below 10% Utilization ON/BEFORE your statement due date and pay and then pay the rest off on your actually due date. It’s not just 2 random days a month again pay it down to below 10% UTILIZATION on/ before your statement due date and pay the rest off on the regular due date You can find your statement due date on your credit card statement sheet for example im wit cap One I look at the top right of my credit statement it may say (dec 23 - Jan 11) but my due date is the 5th of February the 11th of every month is my statement date
"we may close or restrict your Credit Card. This misuse means that you make multiple Purchases and payments during a Billing Cycle, which causes your total Purchases amount to substantially exceed your Credit Limit." - Wells Fargo
I believe you made a video on Tik tok a while ago about buying gift cards to buy money orders and using that money to pay off the credit to get cash back/points. Can you point me toward that video?
Don't use this strategy unless you are positioned to be ok if your utilization shoots up and drops your score temporarily. I have never done this, so I have no experience to show that it even works or not. Has anyone seen success with this strategy?
It works only if You are in a position to pay it down below 10% Utilization ON/BEFORE your statement due date and pay and then pay the rest off on your actually due date. It’s not just 2 random days a month again pay it down to below 10% UTILIZATION on/ before your statement due date and pay the rest off on the regular due date
You can find your statement due date on your credit card statement sheet for example im wit cap One I look at the top right of my credit statement it may say (dec 23 - Jan 11) but my due date is the 5th of February the 11th of every month is my statement date
That never worked for me.
Hey, has Cesar mention about personal and business funding for your IC...
"we may close or restrict your Credit Card. This misuse means that you make multiple Purchases and payments during a Billing Cycle, which causes your total Purchases amount to substantially exceed your Credit Limit." - Wells Fargo
I believe you made a video on Tik tok a while ago about buying gift cards to buy money orders and using that money to pay off the credit to get cash back/points. Can you point me toward that video?
Do it hurt your utilization?
Only when you leave that balance on statement reporting date
Don't use this strategy unless you are positioned to be ok if your utilization shoots up and drops your score temporarily. I have never done this, so I have no experience to show that it even works or not. Has anyone seen success with this strategy?
Don’t do this. Your interest rates will go through the roof and so will your minimum monthly payment requirement. Your credit score will also drop.
You just didn’t pay it off