pay balance b4 it due and build credit faster ?

[Anonymous]

Hi

I just got a sercured credit card. If I use it to day and pay it off in 3-5 days later and keep repeting this. Will it advance my credit scor more than if I w8 for the balance to be due (29 days later) ?

[Jnbmom]

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@Anonymous wrote:

Hi

I just got a sercured credit card. If I use it to day and pay it off in 3-5 days later and keep repeting this. Will it advance my credit scor more than if I w8 for the balance to be due (29 days later) ?

No, this will not advance your score charging and then paying. How many cards do you have? Just pay before the due date in full. If you have more than one card, keep paying all but one in full and just leave a small balance on one.

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[Remedios]

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@Anonymous wrote:

Hi

I just got a sercured credit card. If I use it to day and pay it off in 3-5 days later and keep repeting this. Will it advance my credit scor more than if I w8 for the balance to be due (29 days later) ?

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Hi and welcome 

It wont "advance" it. The only thing that "advances" it is always paying on time. 

Most secured cards have low limits, so while it may be necessary to pay frequently during the billing cycle, make sure your card reports at least $5.00, then statement amount before the due date if this is your only card. 

If you have other cards with balances, you dont have to have anything reported on statement. 

There is a scoring penalty when all cards report $0.00

This does not mean carrying balance and paying interest, only showing something on a statement each month on at least one card.