Can someone explain AVEO like I’m a kid
I just recently started looking into the AVEO method to improve my credit. However, every time I think I understand it, I wrap myself back into a knot about it. I think I’m just overthinking it.
The one thing that I keep stumping myself on is my statement closing date. Say, for example, the date is the 8th of each month. I understand that the first of each month is the payment due date for the previous month. However, I want to have a $0 balance on most of my cards and a very low balance on one by the 8th. Does this mean that I don’t spend on any of the cards (assuming that I pay them down in full by the first of the month) except one of them until the 8th? Or am I mistaken?
I’m just trying to improve my current score of 660 to the “good” range in the near future and then aim for higher in the coming months.