Do multiple payments to one account provide a better score?

[Anonymous]

A buddy of mine bought a car a few months ago.  We were talking to the saleman after the deal was done. He told us a good friend of his works with credit and told him that a credit score could be bumped up a little by making multiple payments in a month.  So instead of just making one, make a payment every week or two. Won't be a night and day difference but it's supposed to make a noticeable difference in the fico. 

I wasn't believing it he said it works. What do you think?

[Anonymous]

Only difference it would make is your overall balance would just go down faster. Make sure you apply it to the principal if you are paying more than the monthly payment.

[Anonymous]

True for loans (apply towards  principal).  How about for credit cards?

[noobody]

#1 you make more payment, your balance getting lower.

#2 you pay before statement closing, your reported utility is lower

#3 you would not forget making minimum payment due

all good for your credit score

[Anonymous]

Paying down before your statement closes also leaves less to pay by due date to avoid Interest

[webhopper]

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@noobody wrote:

#1 you make more payment, your balance getting lower.

#2 you pay before statement closing, your reported utility is lower

#3 you would not forget making minimum payment due

all good for your credit score

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Agree. I pay installments 10 days before due. I pay 1st mortgage on 1st of the month and second one by walking into the branch on the 13th-16th

I make multiple payments per month to credit cards. When I was in college I tried to stay one whole payment ahead on my $232/month car loan. I never had a late in five yrs doing it that way. My first car loan was with chase and I paid the note by going by the branch and handing them the check. I had a notebook that I stapeled the receipt into

[bettercreditguy1]

All good ideas. One thing seldom mentioned is, paying your cc early, can help you internally with a cc lender. CC lenders track your payment histories in detail. What it will show up as is an average montly lower balance in their system which is a tool to help them decide if they want to give you a credit limit increase.