SPIFIMAN1
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Just use your card for every day things, never exceed 30% of your credit limit and pay before the due date in full.
Don't worry about a balance the difference between the billing date and the due date will allow for a small balance for them to report and you will never have to pay interest on it.
I have done this for the past 18-months with 2 credit cards and have raised my score over 150-points. |
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koiboy
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Unfortunately, paying off 1 credit card on time will not rebuild your bad credit that easily...especially after a short period of time. If you've had a history of delinquent payments or defaulted loans, those will always stand out first and will be on your credit report for a long time. If you are serious about cleaning up your credit, start by paying your credit card bills on time and avoid being late...even by 1 day. Best bet would be to setup monthly online payments (if it's offered at your bank). If you still have any outstanding loans or balances on other credit cards, you should pay off those first before even considering starting to use another credit card. |
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DAS
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It is not bad, but I would also suggest you sometimes just pay your balance in increment/minimum payment monthly for at least a period of 4-6 months, so that they can see credit card payment history. They want to see your payment habits over a period of time. But, of course you always have that option to pay your bill in full. |
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Taz
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It is always good to pay your card off in full every month, however that will not builld your credit. You need to show a trail of credit.
example. My wife before we got married had a credit card for sometime and always paid it in full every month and always paid cash for things, cars and such.
when we went to buy our home her credit report didn't show and any credit, this is because she didn't let the card go past the billing date before paying it off.
Pay the min on the first bill and then pay it off on the second bill. Yes you will pay some interest but it won't be much on a $100.00 do this through out the year. this will leave a credit trail...
Good luck |
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chevykid05
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Always pay more than what you owe, pay early, and dont use the cards too little or too much.
Yea and dont just have a card and never use it. This will bring your score down! |
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Ryan D
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no. it's not, believe it or not, credit card co's don't like clients to pay thier balance in FULL. this is when u do that, they can't charge you interest. Therefore, they make no money. What you should do for best credit is this: Say it's july 2nd, and you buy 100 of stuff , cool.. now, you should pay about 80 of that back a few days before you get charged interest, but you should leave the other 20, and let them charge u small interest. Just keep doing that month after month, and your score will shoot up fast. |
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iluvshoes
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It's definetly good. |
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Matthew9126
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no spend 100.00 dollars and then pay it off over 6 months you'll pay interest but the on time payments will score you points on your FICO then after 6 months spend another 100 and do the same thing all over again after a year you'll increase your FICO just make sure you are NEVER late |
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w2pc.com
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It is very good for your credit history! |
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bm
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It does not matter. You should, however, be taking advantage of this situation instead. Having a balance of $100 and then wait for the statement to come and pay on the due date. There's no point paying ahead of time unless you don't have time or for other reasons such as forgetting to pay. |
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Rhoda K
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Yes! That is the best way to use your credit. Also your credit will grow and prosper if you do this. It doesn't matter what you purchase but if you keep paying it off before the interest hits then you will have a perfect credit score! Good luck with everything! Perfect way to deal with credit, you should be giving people the same advice, they will thank you for it! |
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Han_dang
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that is the best thing to do. eliminates stacking interest and possible late fees. i pay mine in full everymonth. remember credit cards are not free money, its a worn out statement , but it is as simple is that. remeber credit cards are supposed to be used on things that need to be purchased fast or "right now" kinda like emergency cash. lets say you were in a store and caught a glimpse of something you wanted,for $400, most people dont carry this much cash on their person, there is only one left and you want it really bad, 1st ask yourself if the company wanted their payment the next day , could you pay it? if not, dont make the purchase, if yes, then purchase it |
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Hyler
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Yeah thats good, just never cancel it... open line of credit with nothing on it is great. |
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J H
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that's very good way to build your credit. I had so-so credit because of a long term medical problem. I did what your doing and within 2 year I bought a house and have 2 American Express cards (both are paid every Mo)
F.Y.I. HSBC will not change your APR (annual percentage rating) if your paying 19% that's what you will pay. They will however change your pay date, should you need to change the time of month that you need to pay ....like if you get paid every two weeks. |
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blahblahblahblahblah
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It is good for your credit score to pay it in full. Although you shouldn't be charged interest unless you don't pay it off AFTER your bill is due. |
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Theo S
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Great for credit rating, less interest rates to pay, all bonus, go for it. |
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lbhietala
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Best possible credit card balance is $0. Keep it completely paid up, all the time.
If you can't do that, then pay more - significantly more, like double or triple the minimum payment, every time until it is paid up. |
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$%#&*@
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oh yes its good the faster you pay the better |
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Dave87gn
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just pay it off every month and dont worry about credit score |
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