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SmallKidVic

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Paying off a credit card all at once or partial payments?
When paying off a credit card to build credit at a limit of 200$.. Do you pay off the entire card at anytime or make a partial payment leaving a balance that you are "utilizing". For example.. I have a 200 limit.. Do i make the full payment when i have the chance or make 3/4 and then pay the last quater a day before due? I heard that paying in full will keep your balance Zero and will not report "utilization"

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A lot of this depends on how you use the card.  Paying in full does not mean that you will have a 0 balance reported.  Most cards give you a 28-30 period to pay the previous months charges. So I recieved my statment that closed on Aug 3rd for one card.  it had all the charges fro the majority of the month of June, and lets say that was $200.  So the statement is due on sept 1 st and I pay in full to avoid any interest charges. But during the month of August I charged $150 dollars of items.  The next report from my card to the Credit Angencies now shows a usage of $150, yet I am paying in full on the due dates.  

So when someone says paying in full means that you have 0 balance reproted is only giving a part of the total picture. Using the card within what you KNOW you can pay off at statement time is the key to a couple of things, building a good payment history, possibly getting the card to increase your limit and lower interest, all of which helps build a good credit score for other lenders.

If you make partial payments, it seems you are talking about making 2 or more payments within a billing cycle.  This will not affect your credit score at all, and the only time this really makes a difference is if you are carrying a balance you do not pay off month to month, you are being charged interest on.  By paying as much as you can when you can, you will lower your "average daily balance" and this is what your interest charges are calculated from in a billing cycle.

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I started off with a $200 secured card limit... I charged $30 MAX per month, and paid it in full prior to the due date, and 6 months later, I received a $1500 increase - didn't even request it.  

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