[Carry]

I just applied for a cc. Can you pay off every week or is it best to do once a month? Not really cc savvy other than must pay off every cycle.

I’d love to hear different perspectives on how payment frequency impacts credit scores, interest charges, and overall financial health.

Do you find one method more effective for budgeting or avoiding debt?

Feel free to share your experiences, tips, or any strategies that have worked for you!

[Bill]

Unless you carry a balance, it’s an interest free grace period, so there is no real need to pay early.

The only real exception would be if you are applying for a mortgage or something and want to show the lowest utilization possible.

[Michelle]

Pay as often as you like. I hate seeing red in my YNAB account, so usually pay them all down once a week or so.

I have no idea when my statement cycles end and actual due dates are, but I do have them set to automatically pay on the due date in case something happens to me and I can’t pay them.

[Tony]

Depends. My Wells Fargo only allows 2-3 times a month. I find it easy to pay off anytime I get paid.

[Kimberly]

You can send payments when ever you want to, but have the entire cycle without finance charges so why would you pay early?

Keep your money in an account earning that Interest and pay on time every mth.

Don’t let it carry over, ever. It’s a win-win imo.

[Jake]

Full statement balance on due date.
If you find you use it a lot check the reporting date on your credit report and change the payment to a few days before that date.

[Danielle]

Set it to automatically pay “statement balance”. Pays balance due in full without incurring interest.

[Melissa]

I prefer to pay it off weekly, I just don’t like seeing a high credit card balance. It’s mostly psychological at this point.

I wouldn’t be giving up much interest income if I kept the money in savings and only paid it once a month.

[Paul]

Automate to pay the statement balance a few days before the due date, make sure you have enough in the account you’re paying from to cover, plus a buffer.

[John]

Be careful of cycling the balance. I do it once a month.
I have 3 dates I pay everything a month
3rd, 17th, 25th.

I get paid twice a month.
I move my bills to one of those dates.

[Robin]

Please pay the statement balance off in its entirety by the due date to avoid interest. Yes, you can pay off before the due date.

Yes, you can pay multiple times before the statement due date.

The best thing you can do is set up automatic payment before the due date because you never want to miss a payment.

Missing a payment can tank your credit score.

[Amy]

You can but there’s no need unless you’re trying to game your credit utilization to improve your credit score.

If paying every week helps you to develop good credit card habits, then do what works for you, but the real goal is to pay in full every month by the due date so that you don’t end up owing interest and making all your purchases more expensive.

[Jennel]

I pay my cards multiple times a month, sometimes before the charge is posted.

It has never had a negative impact on my score.

[Crysta]

I put all my regular spending on my cards and pay them off just about every week

[Stacy]

The credit issuer can shut down your card and entire relationship if they see what they determine as “credit cycling” which is charging and paying off multiple times within a statement cycle.

This may throw up a red flag especially if you charge close to the full credit line/pay off/charge close to the credit line again etc.

they have algorithms that look for unusual behavior to review Anti Money Laundering activity.

[Author]

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