When I purchase something on my credit card....

Question

I pay for it as soon as it posts. Should I actually wait to pay my balance, in full, once a month? Does it hurt my credit rating by paying for my purchase right away?

Answer 1

YOU ARE DOING THE RIGHT THING BY PAYING  IT RIGHT AWAY

Answer 2

Paying off something you've charged quickly will never hurt your credit rating.

Answer 3

i think it would be easier to pay it once a month when your statement comes

just be sure you pay it off monthly before any interest accrues

but i don't see how that could hurt your credit rating, just seems like a lot of trouble to me

it really helps to use it as much as you can, but pay it off monthly. when you do this, they tend to raise your limit often

Answer 4

no the only way you can hurt your credit rating is by not paying off the balance

Answer 5

Paying right away is the best way to up your credit score. Which is the best thing to do for your credit in this time of economic down turn. Your credit company will love you for it and since it's their job to report your behavior to the credit bureaus. It's all good for you. You are doing the right thing and soon don't be surprised the other credit companies will start bombing you with pre-approvals.

Answer 6

Oh god, no.  You're doing the right thing.  It helps to pay it off asap so you don't even have to worry about it.  My brother does the same thing, and it's just helping your credit.

Answer 7

Paying purchases as soon as they posts won't hurt your credit score.  However, you could wait till you get the statement and pay the whole thing at one time.  It would be simplier and you would get the advantage of floating your purchases for the grace period.

Either way, you avoid carrying a balance and paying interest.