payments to increase credit scores....question

[Anonymous]

I picked up a secured card with the intention of  using it to grow my credit.  My question is this: is it more advantageiuos to make a lump purchase and make the monthly payments or to make a small purchse each month and pay it off?  I plan to purchase a program and I can either pay for it all at once ($347) and save $50  or I can make monthly payments of $39 for 10 months.  This will be the only purchase on this secured card and I want the one that will be best for increasing my credit scores.

Thanks.

[blondy250]

Unless the interest rate is 0, pay it off by the due date. Try to use it every month for purchases and pay it off by the due date. Your looking to build a credit history time is most important, carrying a balance will not help.

[Anonymous]

Thanks!

[Anonymous]

I have a secured card. I pay multiple times during the month or at one time. I always pay by the due date and make sure the balance it one left is below 10%. Preferably I leave 1-2% on the card in a balance. Then no charges between 25th-28th so whatever is left can report to CRAs. Haven't paid any interest. Best way to do it set your Utilization.

[Anonymous]

It doesnt really matter what you do if you are just looking to build your score over the long term. If you have the card for say a year, in the end, it does not matter if you paid it over time, or if you paid it off all in one go. It would have the same effect, assuming your balance is the same in the end following each strategy.