4 ms·
Wrong. Pay the bill after the statement is delivered and on/before the due date. Paying before the statement arrives means you receive a statement with a balanc
by clintonb 12y ago
Wrong. Pay the bill after the statement is delivered and on/before the due date. Paying before the statement arrives means you receive a statement with a balance of $0. When reported to the credit bureaus, a $0 balance does nothing to help your credit score.
- Glyptodon 12y agoI don't think this works the same way for all credit cards. At least once I've had a card show that it carried more than its limit in one month on my credit report because I paid it off twice during that month. However, it hasn't happened consistently.
- clintonb 12y agoIf you're approaching your limit, either request an increase or, as you have done, pay it off. There very well could be inconsistencies around reporting. I am still an advocate of paying the bill on the final due date because I see credit cards as a 30 day, interest-free (assuming you pay it off), micro-loan. It makes sense to let your cash accrue as much interest as possible (although not a lot these days) in your bank account before paying off the card.