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Yonkers333

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If I max out credit card but pay it off next day will that help or hurt score

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There are two aspects to this

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Eddy is wrong on two counts.  First, using a card and paying it within terms helps to keep your credit history current, as opposed to not using it at all.  A card with no usage has a marginally bad effect on your score.  And... if you max out your card, then before the statement date, make a payment that will bring it down below 30% (and yes, 0% is acceptable.)  If you leave it maxed out, it will have a tremendously negative effect on your score.  There is absolutely nothing wrong with using credit and ending up with a zero balance. That is an old, but persistent credit myth.  Plus... if your card gives you cash back or rewards, then use it and keep paying it so that you never have to pay the credit card company interest.

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it won't do anything....

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If you use your card then pay it off imnediately, The balannce and related payment WILL NOT be reported to the CRA's..  Its as if you did not us it at all.

I suggest that if you have the cash, set it aside in a savings account.  When you get the bill then pay it off.  That way the balance will be reported.  Then the payment will be reported the next month.  CC co's only report once a month.Usually the day that your statement is mailed to you.  So for the info to report that balance has to be there the day they report. The Payment will be reported the next month. 

Credit reports report on how well you manage your credit. not how fast you pay it off.

Good Luck

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