Best Way To Pay Credit Cards

• credit utilization (spend money via CC, keep that CC active for multiple years...do product changes on that card rather than grabbing a new card to replace it)
• paying off debt (auto/student loans, credit card or line of credit balances)

1. have less self-control on finances (that way you'll only spend what you have in your bank account)
2. pay credit card out of a joint account, and need to consider those spends as "funds no longer available" in chequing account, to prevent the other user from spending it or utilizing it for other purposes
3. Have no safety nets to make sure your payments are made on time

1. redeem cashback towards the card, or simply rather avoid overpaying the card
2. can park the funds in a savings account, then transfer it to the credit card when the statement is due
3. have amazing self-control and are ready to pay the full amount on the statement by its due date

titaniumtux wrote: ↑ Hi Nicole. To answer your question...makes no difference on credit score impact.

What will improve your credit score:

• credit utilization (spend money via CC, keep that CC active for multiple years...do product changes on that card rather than grabbing a new card to replace it)
• paying off debt (auto/student loans, credit card or line of credit balances)

Back to your two options...

1. Pay CC immediately if you:

1. have less self-control on finances (that way you'll only spend what you have in your bank account)
2. pay credit card out of a joint account, and need to consider those spends as "funds no longer available" in chequing account, to prevent the other user from spending it or utilizing it for other purposes
3. Have no safety nets to make sure your payments are made on time

2. Pay CC when statement is due if you:

1. redeem cashback towards the card, or simply rather avoid overpaying the card
2. can park the funds in a savings account, then transfer it to the credit card when the statement is due
3. have amazing self-control and are ready to pay the full amount on the statement by its due date

NicoleL243659 wrote: ↑ Not due but before statement days is based my family experience
Thank you so very much for your advice.

MasterPro wrote: ↑ When I started to pay off all my CC before statement days I got my score higher 850...

Plus I decreased utilization to almost 0%

MasterPro wrote: ↑