Fair Credit Reporting: 16.6.2.6 Pay Off Credit Cards Before the Billing Statement Is Generated
Find out on what day a credit card issuer furnishes information to the consumer reporting agencies. Pay the balance off before that day to create a zero ratio of credit used to credit limit, which will increase the “available credit” factor. If a consumer carries a balance on more than one credit card, move the debt so it is evenly spread over these cards and uses up less than thirty percent of the cards’ credit limits.285