Comments on: If I pay off my credit card charges immediately, is that still good for my credit rating?

By: hotson

hotson — Sun, 03 Jan 2010 14:52:57 +0000

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Good luck!

By: zoiezoe

zoiezoe — Sat, 02 Jan 2010 21:12:44 +0000

If you are going to pay for each item individually every few days you might as well not have a credit card.When the statement prints and shows no balance then it hasn’t helped you at all.

All you have to do to avoid interest charges is to pay the paper bill in full by the due date, Stop driving yourself crazy with this nonsense. Wait until you get the bill and pay it. You will not be charged interest and it will help your credit by having the statement balance reported each month as well as an on time payment. The trick is to pay in full, not just the minimum payment.

By: SPIFIMAN1

SPIFIMAN1 — Wed, 30 Dec 2009 22:50:01 +0000

The best way to use credit cards is to use them for every day things, never exceed 30% of your credit limit in any given month and pay them off in full before the due date.

Wait for your statement to come and mail your payment at least a week before it’s due, this way you will never pay any interest and the differiance between your statement date and due date will always show a small balance.

I have done this for the last 2-years with 2 cards and my score went up over 150-points.

By: VELVET SS

VELVET SS — Wed, 30 Dec 2009 11:31:48 +0000

You just need to wait for the bill then pay it off . As long as they receive in time that’s all that matters. Its when you dont pay or make a late payment it alters your rating.
Also dont have too many credit cards ,dont sign up for a card unless you intend to use it .The more you apply for the more chance you have of being rejected and this will lower you rating. I have worked for 2 credit card companies.

By: dmg1969

dmg1969 — Tue, 29 Dec 2009 05:02:50 +0000

No…what anyone doing a credit check is looking for is the balance carried and how often you are late. I just charged over $1,600 on my cc for some car repairs and will pay it off when it comes in. Use their money for 30 days while yours earns interest.

By: K V

K V — Sat, 26 Dec 2009 04:15:21 +0000

Pay before you accumulate interest and you still build credit. If you carry a balance for too long, or the balance is too high, it can hurt your credit. Also, too many credit cards can hurt your credit.

By: gamerdarling

gamerdarling — Wed, 23 Dec 2009 12:45:55 +0000

It does, and it doesn’t. Your credit report will show the last payment that you made, and it will show the highest balance the card has had as well as the balance the last time they reported to the agency.

It’s better to carry less than 1/3 of the amount available, and more than fifty bucks. Having a monthly amount due that you pay(albeit a small monthly amount due) looks better on your credit. I’d put a small purchase on it, then pay it down, and charge another purchase once it gets down to fifty bucks.

It helps your credit in that the ratio of debt you have to the amount of credit you have available is kept low. You don’t want to be using more than two thirds of the credit available, because that looks like bad money management.

By: Fred J

Fred J — Tue, 22 Dec 2009 23:37:49 +0000

Normally with most credit grantors they like to see at least six payments made over a period of six months before actually giving a rated of good,satisfacory etc. I think in the case of revolving credit such as credit cards as long as you pay on time or before and you do this for the period of at least six months the same would apply.

By: DrK

DrK — Tue, 22 Dec 2009 11:02:55 +0000

Yes. it helps.

By: oldguy

oldguy — Sun, 20 Dec 2009 15:07:59 +0000

paying off the credit card every month is good for you but not so good for the credit card company that really makes their money by the interest they charge. that will put you on their radar screen, and sometimes it will effect your credit score in a negative way.