Will doing the following have different effects on your credit score?
If you pay your credit card bill right after your statement date v.s paying it right before the due date?
If so, how big is the difference?
2006-08-29 12:45:30 · 7 answers · asked by Anonymous in Business & Finance ➔ Credit
Wouldn't make any difference. Unless it is delayed by the mail, then it would be late and would tend to lower your score.
Paying as soon as you get the bill WILL save you interest charges, however. Over time, these savings could be significant! Not to mention much less chance of a mail delay making your payment late!
2006-08-29 12:56:17 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 0⤋
In reference to paying your credit card bill.. Now just to let you know that it is better to pay your bill before the due date.. The reason why that is the best is.. credit card companies report your balance, your payment history and the longevity of your account to the credit reporting agencies. Now if you pay it RIGHT b4 the due date you risk getting a past due fee and if you are more than 15 days late paying it then it will be noted on your credit report. If you have any more questions just feel free to email me. I work for the credit card division of capital one
2006-08-30 00:01:47 · answer #2 · answered by Anonymous · 0⤊ 0⤋
That would make no difference... Credit agencies only see whether your bill is paid on time, or not... my source explains credit quite well with articles explaining credit and a credit card list as well
2006-08-29 20:48:16 · answer #3 · answered by Anonymous · 0⤊ 0⤋
credit cards reports to credit agencies every month. if you pay before your due date, they will report your payment history with smaller balance which is always better . if you pay right after your statement date- you save on interest , because it will be less than 28 days and more money from your payment is going towards principal.
2006-08-29 20:06:09 · answer #4 · answered by bianca 4 · 0⤊ 0⤋
I just read this book and heard the author speak, he was one of the guys who designed the credit scoring system. I don't think that one's in there but there are lots of good tips.
http://www.amazon.com/gp/product/1891945033
Do You Make These 38 Mistakes with Your Credit? How increasing your credit scores will improve your lifestyle
p.s. I have no relationship, not getting paid for this etc.
2006-08-29 19:52:29 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Read some credit tips on this site to help you with it
2006-08-29 19:48:37 · answer #6 · answered by Anonymous · 0⤊ 0⤋
That will have no effect.
2006-08-29 19:50:46 · answer #7 · answered by Anonymous · 0⤊ 0⤋