How much does a credit score increase if all monthly payments are made on time or even ahead of time?

Question

If regular monthly payments are paid ahead of schedule and more then the minimum is paid how much would that raise a credit score?

Answer 1

"How much" a score will raise is very hard to say since the actual scoring models are a closely held secret.

All a person (who doesn't work for FICO and they wouldn't say anyway) can say is that if you keep your accounts in good standing - low utilization, no lates, etc. your scores will rise and continue to rise.

Just keep paying ahead of time and more than the minimum. Try to keep you balances down to less then 30% utilization and you will see your scores rise.

You don't always have to carry a balance, the interest will eat you up. If you don't have a 0% promo, just make two or three payments then pay in full.

If you want to make payments just to have a payment history, you should make payments on a 0% 6 or 12 month promo.
That way you will be creating a payment history and not be paying any interest along the way.

If you do get a 0% promo, make sure that you have it paid off at least one month before the promo ends.

Answer 2

It takes time...it doesn't matter if you pay your bills on time or ahead of time you get the same mark. "Pays account as agreed" if you have a bad thing on your credit like 30 days late it usually takes 60 days to come up. Time is the most important factor when it comes to bringing your score up. It helps to have revolving accounts like credit cards and not use more than 40% of your available credit. Also car loans bring up your credit score.