Paying bills before the bill has gone out

[jkillion]

Hi,

I have been paying my credit card bill online by looking at the balance that is owed, then paying it in full before it has been issue. For example the 18th might be when my bill is normally issued. On the 15th I hop online, see what the balance is and pay online with an online check.

Does this negatively affect my credit score, because the "balance from last month" is always zero.

Thanks,
Jud

[Bobby]

Well personally I would pay my (Credit Card) bills not very fast. With the money you pay these bills you could have earned interest at your bank account. So lets say, when you have a 10k bill and you pay one week later than you normally do... you are getting interest on this money a week longer!

So when you have 'big bills' it might be worth paying later.

Hope this helps,

Bobby

[Jeanie]

I have seen many places that it doesn't hurt dramatically but, it doesn't help either. Sometimes you want to have a balance to show you are able to pay and by doing that it helps with your credit scores..

Hope that helps..

~Jeanie

[finvix]

it never really helps all, if you pay a little before the due date it surely does. so dont always be so eager to pay early, if you want to increase your Credit Score, then pay before the due date and pay a little more than the minimum amount
vix

[Jeanie]

That is what I have heard as well finvix, that is why I say it helps but, not your credit score so much..I am still learning things as well..

[creditscore]

One of the best thing to improve your credit score is to pay your bills on time. Take note, a late payment will instantly drag down your score.

[Jeanie]

Thanks creditscore!

~Jeanie