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Is it better if I pay of my credit card balaces with money I have on side or if I just keep paying payments that I can each month?
Wiki User
∙ 16y ago
The answer to that question depends on how much interest you are paying and how much interest you are earning. Almost all of the time it is better to pay off your credit cards. But if you need to borrow for something else then you need to compare interest rates before you pay offthe credit cards. But ALMOST ALL of the time paying off a credit card and not paying interest is in your best interest.
Wiki User
∙ 16y ago
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Is bad credit erased in 7 years?
NO. If you have bad credit, it will only be erased if you make it better. Paying bills on time, paying more than is due on payments and staying within your spending budget is a way to build your bad credit into good credit.
Does paying your cell phone bill on time help your credit?
It can't hurt your credit. Most all cell phone providers do NOT report your good on-time payments but will report late payments.
Can you get bad credit by spending to much money?
Not necessarily or at all. Bad credit comes from having bills that one does not pay or always paying late such as car payments or rent. One can obtain good credit from always paying bills as well as paying them ontime.
What causes your credit score to go down?
Late payments will do it, so will missed payments. Exceeding your credit limit without authority and increasing your credit limit without paying off your existing balance will all affect your credit score. Managing credit responsibly means paying off your balance before using the facility again, and making the repayments in plenty of time for them to be credited to your account.
Will paying towards your credit card weekly better your credit?
Answer Paying a credit-card weekly or bi-weekly will not help your credit. The main advantages for doing something like this are to pay lower interest on a carried balance and to force yourself into an extra payment. Example: If you pay half of your monthly bill every 14 days, by the end of the year you will have made 26 payments - the equivalent of 13 monthly payments or one more than the 12 you would have made by sticking to the traditional bill schedule. (This is the same reason that making biweekly mortgage payments cuts a 30-year mortgage down to a 23-year mortgage.) To improve your credit via your credit card, the items to focus on are paying on time and maintaining a reasonable credit utilization rate.
Isn't paying no interest loan by paying monthly due amount better than paying in full in term of improving credit score by having good payment history?
Making monthly payments on a no interest loan is way better than paying it off in full if you are looking to improve your credit score.
Is bad credit erased in 7 years?
NO. If you have bad credit, it will only be erased if you make it better. Paying bills on time, paying more than is due on payments and staying within your spending budget is a way to build your bad credit into good credit.
You stop paying business and personal credit card payments as per attorney advice and file bankruputcy after 9 months for better results?
i dont know the answer dir
Why if I am paying monthly payments on medical bills are they on my credit report?
If the bills were overdue and you are making payments as the result of being 'dunned,' and the bills are not yet paid in full, it will reflect on your credit report.
Does paying off another person mortgage payments help your credit?
No. Not if your name isn't on the loan.
Does paying your cell phone bill on time help your credit?
It can't hurt your credit. Most all cell phone providers do NOT report your good on-time payments but will report late payments.
Can you get bad credit by spending to much money?
Not necessarily or at all. Bad credit comes from having bills that one does not pay or always paying late such as car payments or rent. One can obtain good credit from always paying bills as well as paying them ontime.
What causes your credit score to go down?
Late payments will do it, so will missed payments. Exceeding your credit limit without authority and increasing your credit limit without paying off your existing balance will all affect your credit score. Managing credit responsibly means paying off your balance before using the facility again, and making the repayments in plenty of time for them to be credited to your account.
What are some tips on how to fix your credit?
There are many ways that someone can fix their credit. This includes paying off credit card debit, not missing payments and only opening a few credit cards.
Will paying towards your credit card weekly better your credit?
Answer Paying a credit-card weekly or bi-weekly will not help your credit. The main advantages for doing something like this are to pay lower interest on a carried balance and to force yourself into an extra payment. Example: If you pay half of your monthly bill every 14 days, by the end of the year you will have made 26 payments - the equivalent of 13 monthly payments or one more than the 12 you would have made by sticking to the traditional bill schedule. (This is the same reason that making biweekly mortgage payments cuts a 30-year mortgage down to a 23-year mortgage.) To improve your credit via your credit card, the items to focus on are paying on time and maintaining a reasonable credit utilization rate.
Does paying off your car help your credit score?
To pay off debt yes, to make monthly payments no.
How can you clear bad credit for good?
You can clear bad credit for good buy paying rent or car payments on time. You need to do this consistently for a few months to insure the clearing of bad credit.
