Timeline for Am I still building a credit score if I use my credit card like a debit card?
Current License: CC BY-SA 3.0
12 events
| when toggle format | what | by | license | comment | |
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| Feb 22, 2019 at 0:13 | comment | added | Shorlan | @JoeTaxpayer yes, that is the correct way to have the charge count for you. The 5-20% usage has a mild impact on your current score, but it improves your score iteratively each month. Paying off the account balance for the previous pay period lets you avoid the interest. | |
| Mar 13, 2017 at 23:05 | vote | accept | Chael S | ||
| May 30, 2014 at 7:07 | comment | added | Mike Scott | If you're in a country with a modern banking system (you don't specify where you are) then just set up a direct debit from your current account to pay the full credit card balance on the day it's due. | |
| May 30, 2014 at 2:36 | history | edited | JTP - Apologise to Monica♦ | CC BY-SA 3.0 |
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| Aug 7, 2013 at 6:49 | vote | accept | Chael S | ||
| Mar 13, 2017 at 23:05 | |||||
| Aug 4, 2013 at 19:56 | comment | added | JTP - Apologise to Monica♦ | How about waiting to see the bill and paying it in full? You need to pay attention to not exceed your credit line, or ideally 20% of the line. In the end, you should minimize your effort, unless you have great rewards, there's no point in pushing every last expense through the card. | |
| Aug 4, 2013 at 18:11 | comment | added | Chelonian | @JohnBensin and Joe: I'm going to try to implement this now, but I realize I am unclear as to how to know how long to wait. I view my credit card account/balance online, and if I buy something today it will show up on the balance immediately, but it is not yet "on the statement", I guess, and so paying it now is paying too soon for this tactic. Any general advice on how to time this right, or should I just try to inquire through my credit card company? | |
| Aug 1, 2013 at 3:35 | comment | added | John Bensin | @Chelonian I think it helped that in a recent answer, I linked to an answer Joe posted that referenced that exact post, so it was fresh in my memory. | |
| Aug 1, 2013 at 3:18 | comment | added | John Bensin | @Chelonian It's not good to pay it off early if it means that you have 0% utilization when the final statement is posted, since that's a ding on your credit score. @ Joe I think the article Chelonian is referring to is Too Little Debt, but correct me if I'm wrong; I haven't been reading your blog for more than few months so I don't have all of the subjects memorized. | |
| Aug 1, 2013 at 3:05 | comment | added | Chelonian | Joe, somewhere you wrote about how it is not good to pay your credit card balance off too early; search as I might, I couldn't find that statement from you. Any help on that is appreciated. (I tend to pay whatever balance hits the card a mere days after I used it, so I think I am in arrears on this one and want to understand the hit I might be taking from paying it off too soon.) | |
| Jul 31, 2013 at 19:35 | history | edited | JTP - Apologise to Monica♦ | CC BY-SA 3.0 |
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| Jul 31, 2013 at 14:22 | history | answered | JTP - Apologise to Monica♦ | CC BY-SA 3.0 |