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amyzingxcomica

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Is it harmful to pay credit cards as you use them?
I declared bankruptcy 7 years ago in December. I also had some other charged off accounts shortly after bankruptcy. I have paid off the majority of them, as well as have been paying all other bills (student loans, etc). I just got my first credit card in many years, and I have been paying it off as I use it. As in, as soon as transactions post I pay them off. Is this harmful to your credit? would it be better for me to wait until I get a statement and pay it all off? I do this because I want to make sure I only spend in my means, but I definitely dont want to use my card in a way that wont build my credit

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Because you want to wait until the statement comes in before paying it.  Paying as soon as you use the card actually hurts your utilization rate becaus the purchases you pay immediately don't get a chance to be counted.  Crazy? YES!! But that's the way credit works.  Just keep a notebook with what you spent and do an on-paper note of that amount being deducted from your available funds and you should be able to keep yourself within your means.  Develop that self discipline and you should never have to do a bankruptcy again, but find yourself with an increasing credit score and that is something that is comforting.

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