Multiple payments & How it Reflects On Credit Score

GaryT_2

Hey everyone! I'm somewhat new to the message board here, as well as new to the credit game. I'm twenty years old and only have one credit card and I was curious about multiple payments in the same month. My minimum every month is only 15 dollars and my credit line is 300. Whenever I get the bill I pay about 25 or 30 right away, so that I'm paying over the minimum and still paying, but when I come across extra money I often want to go ahead and pay on my credit card again just to keep the balance down but I don't know if I should just hold that money and wait to the next month or not. The reason I don't know is I don't know if it's going to help raise my credit score any more since I've already paid once that month or not. I don't want to pay twice a month unless its going to be reflected on my credit. If anyone has any ideas please let me know! Thank you in advanced

GaryT

CannyJock

In the UK anyway, it won't make any difference to your credit score - the number of payments isn't reported to the credit reference agencies - only whether a payment has been made or not.

However, because interest is calculated daily and added to your accounts monthly, the standard advice is to pay as much as you can as soon as you can, even if this means making a small payment every week. You will reduce the amount of interest you're paying if you do this.