Happy New Year! Here is a fun little hack that you will want to give to your buyers and borrowers IMMEDIATELY. As we’ve discussed in the past, credit card balances are a super-important factor in your clients’ credit scores. Given that so many people over-extend themselves on their credit cards during the holidays (my wife included), this “hack” allows them to work inside the reporting cycles of the credit card issuers. Ask your client to pay down their credit card as much as possible before the Statement Close Date, and not the due date. How can they know the statement date, you ask? On their credit card statement, there should be something stating “statement closing date”. It should be a bit before the due date. Or, your client can simply call their credit card company and ask. The balance owed at the time of the Statement Close Date is what is reported to the bureaus. So, lower the balance, the better their utilization ratio and the better their score!! By the way, are we helping your credit-challenged clients yet? If not, why not?!