When and how much to pay on my CC?

[Anonymous]

Good Morning, 

I am not a credit card user, so I figured I would start to try to start helping my scores move a little. I have these cards and I never use them bc I'm afraid of cc debt.  I have a Discover card were I used $147.00 on it.  My normal stance is to pay it before the statement drops; but I have been told several times; thats not a good idea.  The statement drops on the 7th of every month; I would like to pay this thing off or down, but I'm really not sure how this "game" works.  Any suggestions?

[Brian_Earl_Spilner]

Pay it down to $5-10. Let the statement cut. That balance will be reported. Pay off the card so there's no interest. Don't let any other cards report a balance.

[ZehTy]

I'm a bit Gung-Ho myself and spend however I feel like it. Spend up to $2k on one card, let it post a monthly statement for $2k. Other card posts for $500? Let that statement be $500. I have autopay on and let it all do the work. I'm not afraid to show lenders I spend big and then pay the full statement the following month. 

I treat my credit as cash. I don't usually try to live above my means and always have a mental argument with myself if what I am getting is worth it now, or can I wait (this strategy is losing it's edge since I got married two years ago.) Going with this mentality takes extreme discipline honestly and, it's definitely not for everybody.

I have always stuck with this mindset since I got my first card. Always pay the statement in full. When I was younger and had smaller limits, I paid as soon as it posted to keep the utilization down so I can keep using it.

Credit isn't cash and it can be dangerous. I learned the lesson growing up where I had an extremely frugal father and a reckless mother. I saw the good, the bad, and the ugly. 

Bottom line: Keep paying the statement in full and you'll steadily grow.