The following is how to pay your credit cards effectively without falling into the vicious payment cycle.Cycle Date vs. Due Date: Cycle Date / Closing Date: This is when the creditor ex. Chase
STEP 7 To Raise Your Credit Score
7. Don't obsess
You should be laser-focused on your credit score when you know you'll soon need credit. In the interim, pay your bills and use credit responsibly. Your score will reflect these smart spending behaviors.
Are you getting ready to make a big purchase, such as a home or car? At least a few months in advance, have a look at your credit score, Consumer Action's Sherry says.
While the score that you get through your bank or a service may not be the exact same one your lender uses, it will grade you on many of the same criteria and give you a good indication of how well you're managing your credit, she says. It will provide you with specific ways to improve your credit score â€” in the form of several codes or factors that kept your score from being higher.
If you are denied credit (or don't qualify for the lender's best rate), the lender has to show you the credit score it used, thanks to the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Another smart move is to regularly check your credit reports, says Sherry.
You're entitled to one of each of your three credit bureau reports (Equifax, Experian and TransUnion) for free every 12 months through AnnualCreditReport.com.
It's smart to stagger them, Sherry says. Send for one every four months, and you can monitor your credit for free.