Credit Cards

[Learning_Tee0225]

Quick question when i come across this situation min payment = 0$ should i just not make a payment? or should i do a small 20$amount or something?

[marty56]

You don't have to make a payment but if you have a balance and can afford to do so I would.  I see this a lot on my CU MC which I pay at least the minimum due as soon as the statement drops.  Most CCCs won't let you make a payment on a zero balance account, even with pending charges.  Sometimes that makes it tough to play the FICO score game.

[DaveSignal]

You don't need to make a payment if you don't want.  You will get a positive CRA update and the end of the billing period.

My cards do this when I pay the full balance before the statement date.  My USAA cards don't charge a minimum payment if I pay a large amount over my minimum the previous month.  You are good.  You could pay to lower your balances, but that would be the only reason.

[Revelate]

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marty56 wrote:

You don't have to make a payment but if you have a balance and can afford to do so I would.  I see this a lot on my CU MC which I pay at least the minimum due as soon as the statement drops.  Most CCCs won't let you make a payment on a zero balance account, even with pending charges.  Sometimes that makes it tough to play the FICO score game.

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Heh, you just use the one card you plan to have in the <10% bracket in the last week of the statement cycle, no biggie unless you have a card which isn't accepted in various places like Discover in my neck of the urban sprawl.

To the OP: as someone else suggested, if you have a balance, and have the resources to do so, it makes financial sense to just pay it now.  Usually you get a payment of 0 because you've already paid earlier in the cycle, or you perhaps overpaid previously (which I do routinely and Orchard seems to count it differently than BOFA).  Personally I almost always chuck $20 dollars in a given month regardless of what's actually due if I have a balance on the card.

[Creditaddict]

I use to see this with Home Depot all the time when in the 0% APR

Bill Me Later does this a lot too

and as other said CU - Navy does.

If you have 0% APR and they want to let you skip the payment, if you have other credit card debt, put that $25-$50 payment towards a card you have interest... just be sure you are checking each month that it is $0 payment do.

[Learning_Tee0225]

thanks guys i guess since im trying to build healthy habits i'll make a pymnt regardless to stay in the flow of things 

thanks again!

[BigDaddy18]

You don't have to make a payment  but if your able to both yourself and the system i.e. some systems won't accept a payment when your payment do is zero then you should always try to pay it down!

[Cleanmachine]

I would suggest you read the Term & Conditions of your Agreement regarding making payments.

[LS2982]

Anytime you come across a $0 min. pymt. on a statement that means your prior statement was paid in full. You dont have to make a payment but it is always in your best interest to pay on it.

[Revelate]

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LS2982 wrote:
Anytime you come across a $0 min. pymt. on a statement that means your prior statement was paid in full. You dont have to make a payment but it is always in your best interest to pay on it.

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Payments get reported to the bureaus.  It may or may not make a difference to FICO, but I can't see where it's hurt and it might help on any internal underwriting criteria.