Personal Finance on Sidechat | i just got my first credit card. when should i pay off the balance? i’ve seen paying at different times can be more beneficial to build credit? due date? statement date?

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Personal Finance 9w

i just got my first credit card. when should i pay off the balance? i’ve seen paying at different times can be more beneficial to build credit? due date? statement date?

Anonymous 9w

If your trying to build a credit profile. Do not buy anything on the card you can’t afford to pay cash for. When the bill comes in pay the full balance

Anonymous 9w

Pay the statement balance in full each month, but NOT the full balance. Paying the statement balance avoids interest but having a remaining balance rolling over to the next month will show as credit utilization on your credit report

Anonymous 8w

I just dont. Its just a piece of plastic anyways

Anonymous 2w

I max out my cards to get points, but I pay it off every other day so I can reset the available credit. So I basically use it like a debit card but to maximize my rewards. At the end of the billing cycle tho I pay only the statement like the comment above says. That way it shows some usage

Anonymous

#2 8w

What people wont tell you is this: utilization (and how it affects your credit score) is transitory, it changes month to month. The card companies want you to keep it below 10%, however if you don’t plan on opening new credit it in the next month, spend what you want. I never use my debit card anymore. At one point I was earning 3% cashback on my rent. That said, if you’re planning on using it, loan/new cc, make sure you follow the above and keep it below 10%.

Anonymous

#3 8w

Bro stole all my likes 💀

Anonymous

#2 8w

i like yours dw