Its my first credit card and first payment is due 4th on next month the limit is $300 and alredy have spent $200 is it ok to bay before its due date if i do it will it still improve my credit or not
2007-08-24 16:06:31 · 13 answers · asked by Anonymous in Business & Finance ➔ Credit
yes
2007-08-25 02:12:05 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Yes you can pay early so you can keep $300 limit available. You can pay as many times as possible in a billing cycle. I recommend you use most credit card companies onlien service where you can register your checking account and schedule payments. Some companies limit only 1 payment for every 3 days or so. Also you donot need to pay interest to credit card companies to build credit. Just pay on time. Credit report only show "on time payment", credit limit, the max. you ever charged --
2007-08-25 00:03:35 · answer #2 · answered by Bushan 2 · 0⤊ 0⤋
You can make a payment at any time. Making at least the minimum payment prior to the due date consistently will eventually improve your credit score. The longer you have an account in good standing the more positive impact on your credit history. Late payments, spending over your credit limit, or maintaining a high balance (30% or more of your total available credit) will hurt your credit score.
2007-08-24 16:18:08 · answer #3 · answered by detailgirl 4 · 1⤊ 0⤋
yes just make sure u write the account number on the check so they know what the check is for.
Since this is ur first, u want to build up a good credit history. Set up a direct deposit from ur checking account to pay the credit card balance every month. This way no charges and u will build history. Do not overspend on ur first credit card!
2007-08-24 16:21:23 · answer #4 · answered by coffeebabyea 3 · 0⤊ 0⤋
Yes, you can pay back early.
Doing so will restore as much credit as is equal to the principle portion of the payment.
It will only help your credit if the balance due on the closing date (NOT PAYMENT DUE DATE) is such that it causes your open credit loan to value to be below 5%, otherwise no one tracks paying early.
The due date is a DUE BY not ON date. So make sure it's in by that time.
2007-08-24 16:40:49 · answer #5 · answered by Mountain Top 4 · 0⤊ 0⤋
Pay your bill as soon as you can...the due date is only close to the cut off date...word of advice credit cards are design to give you pretense of ready cash...not true..with a credit card you have the tendency to pop it out instead of using the money in your pocket....be careful first time user..its easy to get caught up....you credit is good as long as you pay
2007-08-24 16:23:38 · answer #6 · answered by nothingbutmotherlove 3 · 1⤊ 0⤋
yes ! always pay it before the day its due !! If you pay it late it will hurt your credit !! paying on time or early is good for your credit report !! you just need to pay it every month not pay it off though! paying all of it off at once does not help build your credit, they need to see you paying it every month and always on time in order to see how well your doing with it, this will help build you up to more credit !!
2007-08-24 16:21:18 · answer #7 · answered by monkeymomma46 5 · 0⤊ 0⤋
You should ALWAYS pay before the due date.
If you plan to pay the due date and the payment gets delayed for any reason, you will get late fees and hurt your credit.
2007-08-24 16:16:19 · answer #8 · answered by Mike 6 · 2⤊ 0⤋
YES you can pay early and YES it will help improve your credit..
2007-08-24 16:11:23 · answer #9 · answered by MeInUSA 5 · 2⤊ 0⤋
What up Playa!!!!
Sure it's ok to pay before the due date however you will want to establish a payment history so don't pay it all off. Make payments, let them collect a little interest. Never pay late. NEVER.
2007-08-24 16:13:15 · answer #10 · answered by Anonymous · 1⤊ 3⤋