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jgruesner · Joined: 21 Jul 2010 Posts: 1 1.34 Dollars($)

I pay my credit cards immediately after receiving each statement. I pay the whole balance each time. My husband likes to pay bills throughout the month. Which is better for your credit score? Or, is there any difference?

alane4homes · Joined: 19 Jul 2010 Posts: 6 2.10 Dollars($)

Providing you pay them off prior to the due date either way works. Paying them the day tou get your statement does not increase your score. You will just be reported as paying on time and never delinquent which is always good!

Guest

I thought I had been told that paying credit cards early (before statement) won't show that I can pay the big amount. For example, if I charge $4,000 per month, but my husband pays off $3,000 before the statement, only $1,000 will show up on my credit report. Is this true?
Conversely, if I don't pay until the statement comes out, how is my score affected by having a large debt to credit ratio?

alane4homes · Joined: 19 Jul 2010 Posts: 6 2.10 Dollars($)

Many things come into play here. 1st do you have other cards with balances or is this your only card? What ultimately hurts your credit is having a large balance with nothing left on the card and then paying minimums. You are correct that if you make a large purchase and immediately pay it off, it will not show on your credit report but most likely will show on your statement. Many credit agencies only report 30-60 or even 90 days and will show an average balance. In your case it may always be 0 if you are continuously paying off your card.

Guest

Sometimes it's really that simple, isn't it? I feel a little stupid for not thinking of this by myself.

gmakerley · Posted: Sat Aug 07, 2010 8:40 am Post subject:

Having a zero balance while displaying a continuous good record of paying is absolutely the most favorable thing you can do for yourself. What is imperative is that your balance, as reported to the credit agencies, be as low as possible (every month) in comparison to the credit limit being reported.

If you pay in full every month, you incur no interest, you maintain an excellent credit rating and you feel pretty doggone good. What could be better?

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Pay credit cards early or after statement?