Current Events > do you pay your credit card balances off as soon as you accumulate them?

(+) Yeah! (+)

i feel like this is a good habit to get into

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I usually pay them off upon receiving my pay cheque

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Its actually bad for your credit. But fuck them pay it off.

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divot1338 posted...

Its actually bad for your credit. But fuck them pay it off.

the closer your total credit utilization is to 0% the better

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cavalierking posted...

the closer your total credit utilization is to 0% the better

Not for them.

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cavalierking posted...

the closer your total credit utilization is to 0% the better

Not if you're trying to build your credit rating.

I keep between 5-7% of my credit limit on one credit card for that purpose.

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i can't seem to find a definitive answer from my (short) googling

mind-blowing if true

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Usually yeah

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I just pay them off once a month at some point after the billing period ends
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no, because i am not bad at handling my money.

vigorm0rtis posted...

Not if you're trying to build your credit rating.

I keep between 5-7% of my credit limit on one credit card for that purpose.

if you are talking about carrying a small balance (and thus paying interest), then you are absolutely doing it wrong. you should never intentionally pay interest solely to raise your credit score.

if you are talking about utilization, then you are still wrong. any non-zero utilization is what matters. you want to keep the number low, but there is no reason to keep a 5% utilization vs a 3% utilization.

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I pay it off on the 10th of the month. The payment isnt due until the 14th of the month.

Yeah, my credit card doesn't charge interest if you pay the full balance regularly, so I always pay it off. Im getting the rewards points, with no interest, basically making money to use my card!
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just open a second credit card and use that to pay off the first.

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My credit card is tied to my checking and gets paid off automatically \_()_/

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I pay it off before the balance is due, but not immediately

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GregShmedley posted...

1. Get your statement
2. Pay your entire statement balance while still using your card
3. Get next statement
4. Pay your entire statement balance while still using your card
5. Repeat above steps.

I usually do this unless something comes up.

It's nice getting paid to spend as well with cashback rewards.


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for my everyday spending rewards amex card yah

i pay it off every couple days so i know how im doing financially for the month rather than paying it off before any interest

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I pay it off when I receive the bill.

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That was the idea when I got them

Then I took advantage of one of those "charge X amount for Y amount of points" and that was a sufficient demotivator.

Going to try to get total utilization across all my cards down to under at least 40% this year.

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Depends if Im on 0 percent interest or not

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I pay off the complete balance each month

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I pay it off entirely every month, usually around my pay check period but sometimes I just log on randomly and pay it off.

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GregShmedley posted...

1. Get your statement
2. Pay your entire statement balance while still using your card
3. Get next statement
4. Pay your entire statement balance while still using your card
5. Repeat above steps.

Yep.

Bugs the shit out of me because my balance will never be $0.00 but I'll also never pay interest.

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My credit score is over 800 and I do this. Why do people say keeping a 0 balance hurts your credit?

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CableZL posted...

My credit score is over 800 and I do this. Why do people say keeping a 0 balance hurts your credit?

cause they watch Dave Ramsey

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When my balance gets to 15% my spreadsheet cell turns yellow. At 30% it turns orange. That's when I pay it, and switch to the other card.
(If it turns red, that's 80%.)
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GregShmedley posted...

1. Get your statement
2. Pay your entire statement balance while still using your card
3. Get next statement
4. Pay your entire statement balance while still using your card
5. Repeat above steps.

Keep utilization under 30% and pay your statement in full while using it regularly. This will allow you to show you're using the card while also not getting charged interest. Also note that your utilization is recorded when the statement is made so you can max out the credit card if you'd like as long as you pay off the majority of it before your next statement is generated so your utilization reflects it.

I'd say keep it under 10%. That's why I have charge cards (gold and platnium). My other cards are usually just got cell bills and misc items.

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JACKBUTTMOMMY posted...

Doesn't make much sense because they don't believe in credit at all.

Ya, hes a sham

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I just have a PayPal credit card so I only pay off the amount that's due to avoid interest on my bigger purchases then have it all paid off within 6 months.

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first of the month i pay them off entirely. i dont leave a balance b/c that's fucking stupid and it doesnt help with anything.

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divot1338 posted...

Its actually bad for your credit. But fuck them pay it off.

No it is not and that is harmful misinformation to spread


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I pay it off in full every month. Dont see any reason not to.

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GregShmedley posted...

1. Get your statement
2. Pay your entire statement balance while still using your card
3. Get next statement
4. Pay your entire statement balance while still using your card
5. Repeat above steps.

Keep utilization under 30% and pay your statement in full while using it regularly. This will allow you to show you're using the card while also not getting charged interest. Also note that your utilization is recorded when the statement is made so you can max out the credit card if you'd like as long as you pay off the majority of it before your next statement is generated so your utilization reflects it.

Best post ITT. Paying interest to raise Credit rating is a fools game


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I have a credit score of 802 and I pay it off immediately.

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Why would you purposely want to pay interest? Set up your credit card to automatically pay the statement balance every month and you'll be golden. Having a small balance carry over does nothing other than make you pay extra.

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g980 posted...

No it is not and that is harmful misinformation to spread

Correct. I've always paid off every card and never carried a balance and I have pretty much perfect credit.

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Pay it off in full every month. But I usually pay it in portions, twice a month. One in the middle, and one a few days before the balance is due.

You absolutely do not need to carry over a balance in order to higher your credit score, nor do I think it makes it go up quicker. I got to 750 from a low 500 score in slightly over a year by paying it off and never accruing any interest. If you are paying interest you are screwing yourself over.
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Ive never had one and probably never will. All this talk of credit scores confuses the hell out of me.

I have always paid my the whole balance every month and never paid interest on any credit card. Generally cards that I rarely use (I have like 7 cards), I pay right after the balance posts so I don't forget. My main cards I just pay around the same time every month. My current score is around 820+.

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Stalolin posted...

Ive never had one and probably never will. All this talk of credit scores confuses the hell out of me.

You honestly don't have to worry about it if you just pay your card off each month. You won't have a bad score if you do that.

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vigorm0rtis posted...

Not if you're trying to build your credit rating.

I keep between 5-7% of my credit limit on one credit card for that purpose.

What possible good reason is there to willingly pay interest?
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CableZL posted...

My credit score is over 800 and I do this. Why do people say keeping a 0 balance hurts your credit?

It doesn't. But I found (after all other things were equal) that I got a bigger bump carrying a nominal balance.

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