Originally Posted by
mintcilantro
I have made some payments on the statement closing date and although my balance was reduced, it didn't show up on teh statement. I have had this happen on 3 different cards. If I want to see a lower statement closing balance, I make payments atleast a day before closing.. any body have different experience?
I give it up to 48 hrs for my last payment to post in my account. Let's say my statement cuts on the 10th, I make sure I do NOT make $1K or more purchases beyond the 7th. I pay a chunk of my balance not later than the 7th leaving 1xx.xx on the account. The low balance shows up by the 9th so that when statement cuts on the 10th, that is what's going to be reported. Soon as my statement cuts, I can start MSing again on that card. I'm not worried about high balance reported to CRA as long as I know I pay all my balance in full for each card. I have managed to keep my total CC utilization to 5% or less. I have 8 most used cards that I'm juggling and several others parked in my treasure box. I put post its on cards with the longest history so I can use them for a few swipes to keep them active status.