Question
Is there any cons in paying off the balance of my credit card after every use?
Instead of waiting to pay the monthly statement. would it prevent my credit from building up?
4 weeks ago - 4 answers
Best Answer
Chosen by Asker
Nope. From a credit report stand point there's no difference between paying the minimum payment on the due date or paying the full balance early or after each purchase. It will show up on your credit report as "Paying as agreed" for each month in which you make at least 1 payment. The difference would be in your debt to credit limit ratio. But again, there's no difference between paying it off at the end of the month or paying it after every purchase, as long as your balance is under 30% of your credit limit when the statement month ends.
by SmartA$$
4 weeks ago
Asker's Rating: 
Other Answers
Not really - none for you. Other than, other companies find those that pay off the minimum amount more attractive, so you are less likely to be marketed at if you always pay off all of your balance. From the consumer's point of view, it almost always best to pay off everything before the interest kicks in.
by Michael from UK- 4 weeks ago
You are headed in the right direction, but play the game the way it's been set up. All you have to do is pay the entire balance at the end of the month. Your way would screw up their system, meaning your not playing by their rules and they would not like it. I've had the same card for 20 years and not paid one dime in interest. My score is 840.
by bigleybill- 4 weeks ago
No.
by Ted- 4 weeks ago