[USER]

Just got a credit card to use specifically for bills and gas only. My goal is to maximize my credit as much as possible.

When is the best time to make payments?

Some people say to pay it weekly vs others say to pay it a week before the due date so I don’t charge interest or have to pay the APR.

I’m just looking for advice to maximize boosting my credit score!

[Lisa]

I always pay by the due date whatever that statement balance is. But I just read somewhere that if you pay like two weeks before it’s due and then pay the balance by the due date, it increases your credit score.

I did that and it worked.

My credit score went up a couple of points.worth a shot…

[Annette]

One only need pay it off before the due date. So anytime between the statement coming out and the due date.

There is usually 28 to 30 days grace.

With that said I pay mine off the day after the statement is posted.

[Liz]

I pay it off every check. My credit goes down if my balance is higher even if I pay it off on time.

Maybe just a point so not a big deal.

It could be because of debt to income or % of credit used.

I don’t get fees and rack up bonus points.

[Shelley]

It doesn’t matter when you pay as long as you pay in full before the due date. If you need to pay weekly for budgeting purposes, do it but it won’t raise your score.

[Pam]

Not exactly how you are using it, but thought it may be be helpful, I asked my bank for zero interest 18 month card when I had an unexpected doctor bill of $6000.

I figured out how much I would have to pay each month to pay it off before the interest started in 18 months.

I pay it every Payday.

Twice a month. My credit score is in the high excellent range.

Also, do not close out an old card. Buy gas with it and then go home and pay it off.

[Barb]

When you get the bill pay it in full every month. Make sure that you use it every month at least once even for a small purchase.

For convenience, you can set up auto pay to pay in full.

[Kirsten]

I’m finding that depending on which day your balance is reported to the bureaus, it can show a balance even if you pay it off every month.

If the score is all important right now, pay off immediately, or even prepay, especially if it’s a larger purchase and you don’t want that balance reported.

This would be if you’re applying for something where credit score really matters, like a mortgage.

I actually pay a little more than what’s due, so two of my cards have a small credit (like $17) right now, which my Dad recommended years ago.

I’m watching how these tweaks change things.

My score keeps going up even though all balances have been paid each month anyway.

Also set autopay at your bank to always pay the minimum balance, just in case you aren’t available that month (traveling, busy, ill, etc.).

You may want to keep any large purchases spread across multiple cards so you don’t hit 30% of available credit on any of them.

[Diane]

It depends on how disciplined you are. If you have a history of overspending here and there then paying more frequently will help you break that habit.

I have a chart that lists my regular bills then has boxes to check for ea month..I know when the due dates are (you can set those on most all credit cards) Just so I can be sure there is no error in emails, (internet outages) or snail mail.

Then when a bill comes in I schedule it to be paid a few days before the due date, print the confirmation, and deduct it from my check register RIGHT THEN & there.

I Never carry a balance forward and have an EXCELLENT credit score and that includes some cards I rarely if ever use with a zero balance.

The only time your credit score matters is when you are new to the world of finance & IF you plan to take on additional debt.

Once you have bought and paid for a car or two or a house..

on time, believe me..

that lender (& others) will be more than happy to do business with you again, in fact they will compete for your business.

I get unsolicited credit cards in the mail and cut em up..cause I chose credit cards based on rewards..

I rarely fly so I tend to chose cash back or ones that give me an extra % off things like gas, groceries or restaurants.

I also take advantage of on line shopping through credit cards that offer extra % off at specific vendors (like Chewy dot com).

I also know that I have bills (like insurance) that come due either annually or every 6 months.

I budget for those every month. Example My homeowner’s is about $2K per yr, so I allow & put 220 per month in a money market account for that purpose and then transfer the money to my checking account the month I pay it, so that even if there is a rate increase (they notify you BF your due date) I don’t struggle to come up with the extra.

I do the same with vehicle insurance and property tax..

I treat those as monthly “bills” and of course the interest I earn just stays in the bank and slowly grows over time and gives me a little pad in case of an unexpected expense down the road.

[Allison]

I tend to just pay it off every payday but you can just pay in full before it’s due.

[Mark]

I charge to get the cash back points and pay the balance off almost immediately. I never carry a balance.

[Pamela]

Set up for auto pay for full amount. Payment will be taken out on due date. They will send you a statement and then a reminder a few days before.

Just have balance awareness.

[Brian]

I set it up to auto pay the full balance in the due date. You never have to think about missing a payment.

Just make sure it’s linked to an account with enough money in it.

[Cathi]

I get paid twice a month so I always make my payments on pay day.

[Carol]

Just pay it before it’s due. Really does not matter what day it is.

[Brian]

And remember using it and paying off every month is great to help your credit score, but the best benefit is using a card with good rewards and enjoying the cash back you are getting.

[Jodi]

I always pay the statement balance on the due date and I have a fabulous credit score.

[Heather]

I always have paid after the statement closes but well before the due date so it gets reported as an on time payment and not just maintaining at 0% usage

[James]

Paying the balance due a few days before the due date to avoid any interest and fees is the best thing to always do.

Then always use less than 10% of your total credit available (this is across all your credit cards).

Doing these two things and you’ll set yourself up for success.

[Anna]

I generally pay mine off as soon as I charge it.. I have a very good credit rating.

I have no other debts, my card is strictly used to maintain a credit standing.

[Nicole]

I pay twice a month. Once before statement date (this helps to not get the interest) and once before due date. I find my credit score likes the 2 payments.

[Kirsten]

I was told to pay the minimum payment 2 weeks before the due date, then any extra (or balance in full) anytime closer to/by the due date, which will help your credit score the most.

I started doing this, and I did gain 6 pts.

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