Is it bad to pay off your credit card early?

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asked Aug 30 in Credit by loucarlson (250 points)
Is it bad to pay off your credit card early?

1 Answer

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answered Aug 30 by Merlyn Phipps (290 points)
Paying off your credit card bill early could help your credit score some by showing that you are a good bill payer and you use your credit card responsibly.

However be aware that there is a chance that you could pay the bill way too early and then cause your payment to actually become late which will then be reported to the credit bureaus.

If you plan to pay off your credit card early wait until you actually get the bill to pay it.

It's a good thing to pay off the credit card balance in full each time you make purchases as having a fully paid off balance is good for your credit score.

Just don't make the full credit card payment before you actually get the bill otherwise it can cause you to be late on your payments.

Wait until you're billed and then pay the credit card bill off in full early.

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