Author Topic: Paying CC early  (Read 533 times)

Offline Mutty

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Paying CC early
« on: March 30, 2014, 05:26:53 PM »
I know this was brought up before but I can't find it. Is it true that it pays to pay off the credit card bill before you get it AND leave a little to pay off for some reason for when you do get it? If someone can point me to the appropriate thread that would be great. Thanks
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Offline Joe4007

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Re: Paying CC early
« Reply #1 on: March 30, 2014, 05:29:07 PM »
I know this was brought up before but I can't find it. Is it true that it pays to pay off the credit card bill before you get it AND leave a little to pay off for some reason for when you do get it? If someone can point me to the appropriate thread that would be great. Thanks
http://www.dansdeals.com/archives/41582

Quote
Q: Are there any tricks to raise your credit score quickly?
A: There are a few.
1. Try to pay off your credit card bills before the statement prints. Once it prints the amount owed can severely hurt your score even if you pay it off on time. I try to pay off everything but $1 so that when I get the bill in the mail I have a $1 amount owed. That shows the card is still being used, but that it’s not being maxed out.
Even if it’s too much for you to do this try to at least keep your spending when the statement closes under 25% of the credit limit of your card.
Amounts owed is 30% of your score, so this is a quick and easy way to get a nice bump.

Offline george

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Re: Paying CC early
« Reply #2 on: March 30, 2014, 05:30:48 PM »
I know this was brought up before but I can't find it. Is it true that it pays to pay off the credit card bill before you get it AND leave a little to pay off for some reason for when you do get it? If someone can point me to the appropriate thread that would be great. Thanks
It's a tactic to keep your utilization ratio low, while still having a balance on your statement to show you're using your credit and paying it on time.

Offline Mutty

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Re: Paying CC early
« Reply #3 on: March 30, 2014, 05:40:13 PM »
Thanks so much folks. I've been paying off early but recently saw somewhere about leaving a little on it, which I will now do. Thanks again.
“You see things; you say, 'Why?' But I dream things that never were; and I say 'Why not?”