Paying CC Early?

AndyBSG

Hopefully someone can answer this.


I have recently got my first Credit Card in over a decade as I want to buy a home at the end of the year so trying to build a good credit history.


I've set it up to pay in full by DD on each statement date but I got a credit file alert the other day from Experian which was something along the lines of 'your total debt has increased'.


The question is should I pay off my CC now because I have the money or should I just leave it until the DD goes out?


My preference is to pay it off immediately but does that mean it won't then appear on my credit report as I've incurred and paid off the debt before either has been reported to the credit agencies?

CLAPTON

wait for the DD to come out ; that way the report will show you are actively using the card


do however check the DD is actually set up (does the CC statement say that the amount will be taken by DD?)

dzug1

And if you do pay it early there is a risk that the direct debit will take it again on the original due date

The_Boss

Even if you paid it off now, the account lender wouldnt update the CRAs until the next reporting period anyway.