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Posted in Credit Scores
Double payments increase my score?
Let's say my balance is $100 due on the first of next month, if i were to pay $50 on the 15th and the other $50 on the first (payment due date) would my credit score benefit more as opposed to making the full $100 (1 time payment) on the due date?
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Question By
Jacqueleane

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No, this would not affect your credit score.

The only potential you could see is an extremely mild day-to-day change of a couple points here and there (maybe, but probably not even that much) as your total debt decreased on the day you queried.

Splitting your total monthly payment as you've outlined above will have no affect on your overall score though. Paying more than the minimum and paying off debt as quickly as possible certainly has more of an effect.

Good luck!

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Response by
nathanmedic

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I agree, it might change the day/week to week score, but as many people get paid bi-weekly and they are in bad shape simply because it's hard to save money, peace of mind to hit the min payment on time every time and a second payment right before the reporting date (karma shows them) does make sense. In the long run it wont hurt as you are paying them faster than the awful trap of paying just a minimum only.

Response by
ohnoitsjeff

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