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mattholloway

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n00b question: Can I pay my credit card bill the same day I use it?
Forgive me for asking such an elementary question. I'm 26 years old and my parents never sat me down and had "the talk". I mean, they had THAT talk... but I never got a word about credit.

Now, at 26 my college loans are nearly paid off but I have a God awful score because they went to default and collections. I am considering utilizing one of these high-interest Capital One cards as a credit rebuilder. Everything I am reading is telling me they are accessible tools to individuals like myself who want to get back on track.

My credit score is sitting at a 569 (I've lost all the tears I'm going to over it). If I were to get approved for one of the aforementioned lines of credit, I wouldn't want to get in any trouble with it. I feel confident in my restraint; even though I feel like I am broke all the time, I don't spend a lot of money anymore and I certainly don't spend it if I don't have it. I do not own any credit cards at the moment. So, back to my question... If I use my credit card to buy lunch, could I turn around and pay that money back immediately? If so, does this actually help to rebuild my credit? Another "if so", what's the best method in which to pay --- through a bank, online, etc.

Again, sorry if this question seems juvenile, but I'm working towards something here and I should really know what I'm doing. I appreciate any assistance in advance.

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Pay off crdit card before posted

Helpful to 1 out of 1 people

Never pay off a credit card until it closes each month or it will not help your score. it will seem that you don't use the card.

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