Monday, December 12, 2011

If I pay my credit card before the statement, is this good for my credit or bad for my credit?

Hi everyone, I got a Citi card. I always pay it online before the statement date. Sometime I will pay my credit four times a month because I always pay my credit when I see some balance on my account. So every statement date I will got a balance $0. Is this good for my credit or bad for my credit?


Can someone help please, Thank you|||Paying your account multiple times before the statement has the same impact as waiting for the statement and paying the whole balance before the due date. Both will give you a good payment history, keep you from paying interest or falling into debt.





However, paying before you get the statement kinda nullifies the benefit of floating the purchases for the grace period.





Carrying balances does NOT improve you score.|||you want some sort of revolving credit if you always pay it off before its due you are not creating a credit history because it will always show a $0 balance. This will look as if you are not using your card at all. Paying it before its due probably wont help much but paying on time is important. Paying it four times a month is not helping but may be hurting it. Revolving credit is like a car loan that you pay every month that helps your credit so by keeping a small balance every month but paying more than the minimum payment and on time it will help.|||It won't help your credit...and it can potentially create a late payment situation as the credit card company might post the payment to the previous billing cycle..|||That is good for your credit. It's the same as paying before due date..

No comments:

Post a Comment