When to pay off

Goldstar28 · 15 August 2018 at 3:41PM

I have a credit card and attempting to rebuild my credit history and score.

I'd like to know when I should pay the credit card after using it.

I have heard it should be as soon as possible after using it, but also heard you should wait until your statement arrives.

[Deleted User] · 15 August 2018 at 3:42PM

Always wait for the statement and clear in full.

And always ignore your score.

Willing2Learn · 15 August 2018 at 3:44PM

Hi,

You should use the card freely, for all your monthly budgeted expenses. Then you should pay in full after your statement is received and before the due date.

MallyGirl · 15 August 2018 at 4:09PM

if you pay it off before the statement it looks like you aren't using the card as the zero statement balance is what is reported to CRAs

McWedge · 15 August 2018 at 5:03PM

Yes, after the statement but before the due date.

Another point is that if your card offers any rewards/cashback it most likely will not apply to any spending that is paid off before the statement.

[Deleted User] · 15 August 2018 at 5:09PM

The spend would still attract cashback or rewards.

When to pay off

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