Last month I opened a cash rewards credit card with Bank of America. I am worried about my credit score, as my first closing date was the end of September. I paid off the balance that I used a couple of days before the closing date and left the balance at a 5% utilization rate.
In doing that, I thought it would help my credit. I just checked my credit score and I was disappointed to find that my score is 660. Did I do something wrong? Should I not pay off the balance before the closing date to a small utilization amount? Does that negatively affect my credit score?
Also, my payment due date is 10/20/2018, but my closing date is 10/23/2018. I thought the closing date came first and then I would have time to pay off the balance. Why is my payment date before the closing date? And how would that affect my utilization percentage?