Credit card payments credit score

Arnold2532

If I pay my credit card before it’s due date, will this go better against my score? As I’ve heard numerous different answers to this I want to know exactly what to do (As in wait or pay off in full straight away).

[Deleted User]

Don't worry about the score. It's not a real thing and doesn't measure anything worthwhile.

As long as you pay by the due date (and after you've received the statement) it makes no difference to how lenders see you.

The smartest thing to do would be to set up a full pay DD, assuming you're able and willing to clear the balance in full each month (which you should, if you're trying to build a credit history).

Arnold2532

Your right, why do we panic so much about a stupid made up number.

Arnold2532

What If I pay before the statement?

[Deleted User]

If you always have a zero statement, it may be reported to CRAs as if you are not using your card, which doesn't build any evidence of account management.

Ben8282

Arnold2532 wrote: »

What If I pay before the statement?

Why did you use the credit card in the first place? If you want to repay straight away why didn't you just use cash or a debit card.
Do you normally pay bills before you receive them?
Conduct your credit card account normally. Spend. Wait for monthly bill. Pay by due date. Keep the money in your bank to earn interest, keep up your balance or whatever.
And don't obsess about your imaginary credit score.

[Deleted User]

Ben8282 wrote: »

Why did you use the credit card in the first place? If you want to repay straight away why didn't you just use cash or a debit card.

S.75 protection?

A lot of people with low limits will make purchases and then clear them down to free up available credit again.

I admit it's not the "right way" to do things, but still

Arnold2532

It’s because I use it for work, diesel, customer entertainment etc. And I get it all back half way through the month. So if take customers out the week leading upto expenses payday I’ll get it back within a few days and don’t like it sitting in my bank as I think it’s my money haha. I would just use my own debit card but I need to build some sort of credit rating.

Takmon

Arnold2532 wrote: »

It’s because I use it for work, diesel, customer entertainment etc. And I get it all back half way through the month. So if take customers out the week leading upto expenses payday I’ll get it back within a few days and don’t like it sitting in my bank as I think it’s my money haha. I would just use my own debit card but I need to build some sort of credit rating.

Open another account with another bank and keep the money in there, it's always good to have accounts with a few different banks just in case. Plus when you start looking at this you will see you can benefit from high interest regular savers, switching bonuses etc depending on how far you want to go.

gionnetto

Arnold2532 wrote: »

I would just use my own debit card but I need to build some sort of credit rating.

Then the best way to do it is, use your credit card regularly, wait for your statement to be issued THEN pay it off fully by direct debit each month.