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1offshoremarine

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Concerning your credit score...is it best to pay the balance on your credit card when payments due?

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The more that you pay, the more it will bring down the utilization on the card, and reduced utilization increases credit scores. You should always let one card report a small balance of less than 10% of the card's credit line each month so you are not penalized for lack of revolving activity. You never really want to let a card report more than 30% utilization as that is when the real harm begins. You do not have to carry a balance over, let one card report a small balance at statement/reporting time and then pay it off before the due date to avoid paying any interest, unless of course you have a card that charges interest from the time of purchase, then you would still have to pay interest, a card like that would be best used the day before reporting time and then pay it off a day after reporting time.

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