Is it better to pay off a credit card in full?

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asked Dec 3, 2018 in Credit by shanjasper (410 points)
Is it better to pay off a credit card in full?

1 Answer

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answered Dec 3, 2018 by Christeen (70,120 points)
Paying the minimum payment is okay if that's all you can afford each month however it won't get your balance paid off quickly either and you pay more in interest charges paying only the minimum amount each month.

When you use your credit card and pay the full balance off each month it shows you're good and responsible when using credit and that gets reported to the credit bureaus and in turn that good report will increase your credit score overtime.

So yes if possible pay off the full balance you owe each month when the bill comes due to keep your credit card balance low and to increase your credit score.

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