Credit Payment ?
I have a Discover It Secured card with a $200 available balance, I get a statement every 20th of the month. Say I spend $30, should I pay it off immediately or wait till I get my statement then pay it off? Basically wanting to know what is the best way to increase my credit score.
- Casey YLv 71 month ago
Just pay the balance in full before the due date...
- Anonymous1 month ago
In the long term it makes no difference. In the very short term, you might gain a point by paying it immediately.
I never pay early unless its a $2-3 amount. All my cards are set to autopay on the due date from my checking account because I have excess money and my reward checking account pays 3%
A year from now, it won't make your score any higher or lower. Being late does that.
Building credit is a slow animal. You need to think it terms of years, not weeks.
- SumDudeLv 71 month ago
Wait for the statement, review it, then pay in full as per terms.
- ShayLv 71 month ago
Wait for the statement.
The reports made to the credit bureaus are usually done once per month and are usually based on billing cycle information. If you pay before a cycle bills, then it might not get reported as usage and payment.
It does depend on the reporting policies of the card company you have - but if you always make it a practice to wait for the bill, then you won't need to keep track of which companies make which kind of report.
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- Pearl LLv 71 month ago
thats up to you how you want to do it
- MichaelLv 71 month ago
Wait for the statement, pay off the balance in full, and make sure it gets there before the due date. That’s all you have to do.
- Rick BLv 71 month ago
You should pay your balance in full each month when the statement arrives.