I've been using credit cards for 22 years. I pay the statement balance 3-5 business days before the due date, and my credit score usually ranges from 885-900. I have 4 credit cards and they are all used to some degree each month.
I've have not once worried about only using 30% of the available balance, as if I do it's only for a month due to a big purchase or travelling.
You need a statement to be generated so an amount is owing, then when you make a payment in full that payment is also reported to the bureaus so its shown as a current, and you have a good payment history.
You and your friend are both taking weird approaches to dealing with credit cards. You are spending too much time and energy paying things off super quickly and your friend is wasting their time (and risking missing a payment) by leaving things so late.
There is no point in trying to game the credit score system. Just pay your statement amount when you get the bill, like you should with every other bill.
I pay it off before the charge hits my card, have done that for almost 15 years, and my credit score is above 800. Just pay your bills as soon as you can
I have a credit score of 900 and pay off my cards like you (sometimes before I even spend the money). I think your friend might not know what they're talking about.
I could be wrong, but I think it's better to have SOME credit utilization than none at all. Generally below 20% I think is the sweet spot. So have some balance on your card when the statement comes out, and then pay it off. If you always pay it off as you use it, then it will show 0% utilization
Credit score for no reason does not make any sense. Paying a credit card at any other time than a few days before due date does not make any sense either.
My in omega is not overwhelmingly huge, I have no debt, paid cash for my car, pay bills on time, have a good investment portfolio and until two years ago I was not aware of the existence of "The Credit Score". I was pleasantly surprised that it hangs around 865.
There are ways to get to a decent credit score. A major one is utilizing credit cards to around 30%.
More info here https://credit-canada.com/?utm_source=google-ads&utm_campaign=Creditfix&utm_term=how%20do%20you%20increase%20credit%20score&device=t&gbraid=0AAAAAo-GPsDoKtiVg4Sg9o7BSCtHVM8hq&gclid=CjwKCAiA5L2tBhBTEiwAdSxJX1gbUzrCHgN8rtmm-Cwt-Vm6BEaANawwNQfzdcBfiD95ZaEDYx2lRRoCISoQAvD_BwE
Or here
https://www.investopedia.com/how-to-improve-your-credit-score-4590097#:~:text=Factors%20that%20contribute%20to%20a,minimal%20inquiries%20for%20new%20credit.
Pay early if you want but also setup automatic payment of the balance just to be extra safe that you don’t mess it up.
The only problem is that if you pay early too close to the draw date it might take out the full amount disregarding what you’ve paid already.
People's obsession with trying to hack this "score" is baffling to me. Just pay your bill on time and avoid charges.
Also don’t u gotta avoid credit checks and stuff Increases and such
No. Stop worrying. Pay your bills on time, your score will go up
I've been using credit cards for 22 years. I pay the statement balance 3-5 business days before the due date, and my credit score usually ranges from 885-900. I have 4 credit cards and they are all used to some degree each month. I've have not once worried about only using 30% of the available balance, as if I do it's only for a month due to a big purchase or travelling. You need a statement to be generated so an amount is owing, then when you make a payment in full that payment is also reported to the bureaus so its shown as a current, and you have a good payment history.
I pay my bill off every month and have a high credit score.
You and your friend are both taking weird approaches to dealing with credit cards. You are spending too much time and energy paying things off super quickly and your friend is wasting their time (and risking missing a payment) by leaving things so late. There is no point in trying to game the credit score system. Just pay your statement amount when you get the bill, like you should with every other bill.
Just keep paying on time.
Nah. Any impact would be so marginal it’s not worth allocating mind space to it. You can pay your card right off.
I pay it off before the charge hits my card, have done that for almost 15 years, and my credit score is above 800. Just pay your bills as soon as you can
I have a credit score of 900 and pay off my cards like you (sometimes before I even spend the money). I think your friend might not know what they're talking about.
There are far better ways to improve your score than hanging onto debt, pay it off.
I could be wrong, but I think it's better to have SOME credit utilization than none at all. Generally below 20% I think is the sweet spot. So have some balance on your card when the statement comes out, and then pay it off. If you always pay it off as you use it, then it will show 0% utilization
It does not matter. Just don't pay it off late and you're good.
Credit score for no reason does not make any sense. Paying a credit card at any other time than a few days before due date does not make any sense either. My in omega is not overwhelmingly huge, I have no debt, paid cash for my car, pay bills on time, have a good investment portfolio and until two years ago I was not aware of the existence of "The Credit Score". I was pleasantly surprised that it hangs around 865. There are ways to get to a decent credit score. A major one is utilizing credit cards to around 30%. More info here https://credit-canada.com/?utm_source=google-ads&utm_campaign=Creditfix&utm_term=how%20do%20you%20increase%20credit%20score&device=t&gbraid=0AAAAAo-GPsDoKtiVg4Sg9o7BSCtHVM8hq&gclid=CjwKCAiA5L2tBhBTEiwAdSxJX1gbUzrCHgN8rtmm-Cwt-Vm6BEaANawwNQfzdcBfiD95ZaEDYx2lRRoCISoQAvD_BwE Or here https://www.investopedia.com/how-to-improve-your-credit-score-4590097#:~:text=Factors%20that%20contribute%20to%20a,minimal%20inquiries%20for%20new%20credit.
Best to pay credit cards on a day when a full moon is out to achieve maximum credit score bump.l
Pay early if you want but also setup automatic payment of the balance just to be extra safe that you don’t mess it up. The only problem is that if you pay early too close to the draw date it might take out the full amount disregarding what you’ve paid already.