You need to pay your credit card off IN FULL every month – but do you need to wait for statement?

enthusiasticsaver

You can pay it off each time you use it but it will show as 0 on each  statement hence no usage and if you are trying to build up a good credit report it seems pointless.  Why bother using the card at all? 

Vinknut

doriangay said:

jlfrs01 said:

Al you need do is instruct the lender to take the full amount by Direct Debit every month. If you prefer to make manual payments then yes, you will have to wait to receive your monthly statement in the post or electronically. No need to pay off each transaction as you make them, it's only necessary to pay in full before or on the payment is due.

Sorry my question isn't clear. 

My preference would be to pay it off manually as soon as I make each transaction. 

But I don't know if that will limit or prevent positive impacts on my credit score(s). 

For credit scores - is it better to wait until a statement is generated and then pay off in full (whether automatically or manually) or can I still improve my credit score when manually paying it off immediately? 

Yes, it is better for your credit history to actually have a credit history.

There are other issues with wanting to paying it off immediately - refunds, etc- will be confusing, putting you into credit on the card.

I don't understand two things; 1. Why you want to use a credit card at all (rewards? cashback? Avios?) and 2. Why you don't want to wait for it to statement and pay the statement balance?

If it's a payment psychology thing; eg: "I just want to pay it off so I won't be tempted to build up a rolling balance" - then you shouldn't be going anywhere near a credit card in the first place.