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newmommy13

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Can automatic payments help your credit score?
I have a few bills that are set up through automatic withdrawal every month. Like school for example takes money out of my account to pay for the month. Does that improve my credit score b/c its technically paid on time?

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It will help indirectly

If you set up your automatic payments so the payment is made before or on the date it is due. You will never be late and therefore avoid any kind of negative notation on your credit report. That is an indirect benefit that, while not boosting your score, well at least show creditors in the future that you pay your bills on time.

The best things about automatic payments will be not having to remember due dates. I would suggest however that should go through your accounts periodically to make sure the payments are going out in a timely manner. This especially rings true when setting up automatic payments through credit unions.

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It pays your bills when you are likely to forget. It has saved my butt a time or two. It will not help you credit any further than if you remember to pay your bills on time.

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