Comments on: Can I pay my credit bill online before I get an online statement?

By: oliprofessor

oliprofessor — Tue, 29 Dec 2009 16:43:35 +0000

paying the card off early should never ever be a problem.

However, the net result of your payments is recorded in your credit file once a month, regardless of how frequently you pay.

Therefore, there’s no real point to doing it in that fashion unless you can’t trust yourself not to spend the cash you need to pay it off from.

By: Mandy B

Mandy B — Tue, 29 Dec 2009 05:54:31 +0000

You can pay whenever you want. Buying and paying more than the minimum payment in a timely fashion both help build your credit, and it also keeps your interest rate fairly low.

By: Gem

Gem — Sun, 27 Dec 2009 22:10:57 +0000

Many banks limit the number of payments you can make a month (hoping to **** you into carrying a balance, then hit you with a missed payment/late fee).

Using, and paying, is fine, but to build your credit faster you really need to carry a small balance for a few months, make payments a few dollars over the minimum.

If you don’t let the bank earn any interest from you, which is what will happen if your card is always paid in full, then you will still be a bad credit risk. Doesn’t make sense I know, but is exactly how it works.

So, for the first couple months spend a few dollars and pay off most, but not all. Then pay off and keep paid off. Once or twice a year, carry a balance for a month and let them earn a few dollars in interest.

But really, credit is what has led to our downfall, please be careful