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Make double payments?

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Caitt
Regular Contributor

Make double payments?

“Pay half of your payment 15 days before the due date then pay the remaining half 3 days before the due date. It'll boost your credit score
You trick the system into thinking you made two full payments which helps boost your credit score.”

Can some explain to me If this is true and how? I’m under the assumption that it shows 1 payment regardless.
5 REPLIES 5
Remedios
Credit Mentor

Re: Make double payments?


@Caitt wrote:
“Pay half of your payment 15 days before the due date then pay the remaining half 3 days before the due date. It'll boost your credit score  
It wont boost your credit score. You're simply making additional payment 
You trick the system into thinking you made two full payments which helps boost your credit score.”
Same as above, nothing but an additional payment. 

Can some explain to me If this is true and how? I’m under the assumption that it shows 1 payment regardless.

 

 

You're correct, on credit report it will show that payment was received for that month.

The only way additional payment can help with your score is if it lowers reported utilization (statement balance). 




Message 2 of 6
Shooting-For-800
Senior Contributor

Re: Make double payments?

Sounds silly to me.

 

I make 3-5 times my minimum payment on cc as soon as a see a payment due date if I do not want to PIF right then just to be safe.

Then I pay off whatever balance later.  I check all my accounts every week though.

 

As far as loans, the only difference it makes is that the more you pay each month and sooner you pay, the less balance you have and the less interest you will pay in total.

 

 

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $500k unsecured credit in 2024.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!



Message 3 of 6
Anonymous
Not applicable

Re: Make double payments?


@Caitt wrote:
“Pay half of your payment 15 days before the due date then pay the remaining half 3 days before the due date. It'll boost your credit score
You trick the system into thinking you made two full payments which helps boost your credit score.”

Can some explain to me If this is true and how? I’m under the assumption that it shows 1 payment regardless.

Not true and utter BS.  Two payments or 10 payments even won't "boost your credit score" if it doesn't involve crossing a utilization threshold.  Also, credit scores aren't based on number of payments, or even dollars for that matter... so making more payments doesn't mean better scores in and of itself. 

Message 4 of 6
CashBackQueen
Frequent Contributor

Re: Make double payments?


@Caitt wrote:
“Pay half of your payment 15 days before the due date then pay the remaining half 3 days before the due date. It'll boost your credit score
You trick the system into thinking you made two full payments which helps boost your credit score.”

Can some explain to me If this is true and how? I’m under the assumption that it shows 1 payment regardless.

I would be afraid that upon manual review it would look like I couldn’t afford the full payment in one shot.

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TCL: $89,350 • If it ain't got rewards, I don't want it Smiley Wink
Message 5 of 6
SouthJamaica
Mega Contributor

Re: Make double payments?


@Caitt wrote:
“Pay half of your payment 15 days before the due date then pay the remaining half 3 days before the due date. It'll boost your credit score
You trick the system into thinking you made two full payments which helps boost your credit score.”

Can some explain to me If this is true and how? I’m under the assumption that it shows 1 payment regardless.

No it's not true; it's complete fiction.


Total revolving limits 586020 (520820 reporting) FICO 8: EQ 706 TU 701 EX 692




Message 6 of 6
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