Credit Card Dates: Mastering Your Score

The provided text, an excerpt from a podcast episode titled "The Two Most Important Dates on Your Credit Card – and How to Use Them Like a Pro," explains the critical difference between a credit card's statement closing date and payment due date. It emphasizes that the statement closing date is when banks report your balance to credit bureaus, directly impacting your credit score based on credit utilization. The excerpt advises paying down balances before the closing date, ideally below 10% of the credit limit, to demonstrate responsible credit usage and potentially improve your score. It contrasts this with the payment due date, which primarily affects interest charges but not the reported balance for credit scoring purposes. Essentially, the source offers a strategic approach to credit card management focused on optimizing credit scores.