CC Payments

[Anonymous]

I had a general question about CCs.

If I have a card like Cap1 and I can make payments online from my bank account, is it good fro my credit score and history to put $100 each week on it and then in a couple days after make a $100 payment so when my bill comes its 0 balance?  It seems harder to let it stack up and pay it at the end of the month.

[pizzadude]

FICO scoring will only look at the statement balance, this is typically what is reported to the CRAs ~ usually once a month by creditors.

So if you are trying to have your card report a 0 balance then pay as often as is convenient for you, as long as you work out the timing.

[injustifiiable]

I'd say let one card report a low balance at least, maybe $10 - $20.

I do online payments direct from my bank account which post in 1 - 2 days. My statements cut on the 5th so I put in a payment to bring the balance down on the 1st...which gets posted by the 3rd.

It gets a bit hectic but once you get the routine down, it works well.

[Anonymous]

I do the same thing with payments on all of my credit cards. When a charge hits i will pay it usually within a day or two. Easier accounting for me to verify all my charges, and like you said, you dont get hit with a bigger bill at the end of the statement cycle. Never know when life will throw a monkey wrench at you messing with the best plans about always paying in full every month. I think that is especially important for folks either new to, or rebuilding their credit.

[Anonymous]

I make severay payments a month on my card. Paying 1 huge payment make me nervous. Making severay small payments makes it easier. Even though, in the end, I'll be paying the same amount. It's psychological, I guess.