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Question By
thatgirlyari

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on my credit card should i pay off all balance before next billing cylce?
My credit card limit is 800 I owe 400 should I pay all 400 before next billing cycle or should I just pay minimum balance?

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Top Contributor
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If you pay just the minimum

The credit card company will charge you interest and it will take a year and a half to pay off.  ALWAYS pay off the card balance as soon as you can after you get the bill.  If you can't pay it all off, pay it as soon as you can.  I try to pay all cards off in 2 or 3 payments at the most.

Also, You credit limit is $800,  charging $400 will show a 50% utilization rate.  Thats not good and will pull down your credit score. You want to keep your utilization rate less than 30% (or $240)

Take some time to read up on how credit cards work.  The articles here on CK are a good to learn what goes into your credit score and how to make sure that you use your credit wisely.

Good luck

Top Contributor
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557 People Helped

Are you trying to accomplish something else by not wanting to pay in full? I wouldn't think someone would purposely paying interest.

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