How to build your credit?

Question

I just got my first credit card and decided to use it once or twice a month for gas at first. Now my bill is due18th of October and it's $44. When should I pay it? A week before the due date? Also what should I pay? The full amount of 44 or the minimum payment? Which looks better? Any advice as well is generous. Thanks

Answer 1

They need to receive the payment before the 18th. You need to send it enough before the 18th to ensure that the payment arrives in time. Depending on whether you are sending the payment with a computer or by mail, and how far away from them you are mailing it, the delivery time varies.

Pay the full amount. Otherwise, they will charge interest (they call it a finance charge).

Answer 2

Paying ahead is not expected.
Just be sure that it is in their hands by or before the due date.
Consider mail time. You can pay online, 48 hours or so ahead.
Paying in full is the best policy. After a history of that your limit will be increased. They assume that if you can pay the full amount each month, may be more than min., that you can pay that as a min., on a larger limit and pay their atrocious interest.
Carry a balance only in case of emergency and pay out ASAP. Saves interest.

Answer 3

Paying your bills ahead of time is always a plus! Paying more than the actual amount doesn't show up on a credit report. As long as you pay on time your credit will be great.

P.S. Don't let your parents get a credit card in your name behind your back!! My mother did it and now I have a horrible credit score! Good Luck!!

Answer 4

As long as you pay on time you are fine. If you budget allows to pay in advance that is great. I would pay some of it and then pay it off next month to establish that you can pay on time.