achilles19282 asked:
Some say that paying credit card bill all at once every month is better for building good credit!
Some say that paying credit card bill all at once every month is better for building good credit!
Others say that keeping a balance on the card (but always paying minimum) works better for credit history and paying all at once actually hurts it.
Which of the two is better?
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#1 by Kevin - October 23rd, 2009 at 02:35
Pay off your credit card balance.. do not carry continuous debt paying interest on it.
I would never use a Credit Card.. don’t buy things you cant afford.
#2 by rtash - October 23rd, 2009 at 07:43
Definitely pay it all at once
#3 by SPIFIMAN1 - October 24th, 2009 at 10:08
As far as building credit it makes no difference which way you go.
So having said that why would any one want to pay interest if they did not have to?
And think about it, the difference between the billing date and the due date will always allow for a small balance to be reported you just won’t have to pay interest on it.
I always pay my credit card bills in full and have for several years and all of my scores are well over 800.
#4 by Jr. - October 27th, 2009 at 13:16
Sorry Kevin you are wrong. You need to purchase items on credit to show a credit trade. You need to show it be a rebolbing credit. My recomendation is charge on it and pay it off in two payments that will make it a rebolbing credit. This will help you get a high fico escore.
#5 by stan c - October 28th, 2009 at 08:20
You should always pay the balance to avoid add’l interest. Use it for gas and small items. Your credit score will change about every 12 months.
#6 by David Z - October 30th, 2009 at 01:09
the best score you can get is if card balance is zero.
#7 by bearr41 - October 30th, 2009 at 01:47
Hmmmm. Incur debt or pay your bills?
I always vote for paying your bill in full every month. You will still improve your credit and you will not risk losing your job or something else coming up that prevents you from paying your bill,
An even better answer is not to use a credit card. Pay cash!
Credit is a useful tool, but it is easy to get in trouble with it.
#8 by jlf - October 30th, 2009 at 05:18
Keeping a balance on the card does NOT “build credit” faster. It is your PAYMENT RECORD that counts. Pay it off each month.