Does it matter WHEN you apply?

<p>So I know that you can start to apply to college in august, and the deadlines are usually between december and march.
I'm a senior in high school, but I'm finishing school early by taking classes at my local community college that will count for both high school and college credit. So I'm currently enrolled for the fall semester.
I want to apply to 5 colleges, and I plan on sending in my fall semester college transcript, along with my high school transcript and SAT scores.
But my only problem is, my college transcript won't be available until the week of december 21st. And one of the colleges I'm applying to's deadline is december 1.
My point is, I probably won't be able to apply to the colleges until like, the last week of december or the first week of january.
So does when you apply matter? Like, the sooner you apply, the better chances you have at getting in? And should I even apply to the college thats deadline is december 1?
Also, what does rolling basis mean? And no closing date?
I need to send in my college transcript because I didn't do too well in high school, and I think that my college transcript will help me get in, because I'm working on getting a 3.1 GPA in college, and to me, that's good for a 17 year old in college.</p>

<p>Rolling admissions means that a school will start reading and accepting candidates as soon as they release their application and they will close admissions when they have filled their class. For these schools it is beneficial to apply earlier in the admissions cycle. The caveat is that if you have things like grades or awards coming later, it might benefit you to wait so that your application is stronger, but you are taking a chance since the class might fill up in the meantime.</p>

<p>For non-rolling schools, as long as you apply before the deadline, it doesn’t matter when you send in your application.</p>