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Sierra8272

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Paying off Credit Card in Full, or over a few months?
I got my tax return back and want to pay off a credit card that has a $3400 balance. A friend told me that it was better for my credit score to pay it off over a few months, rather then to pay it all off in one full payment. Is this true?

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Paying off credit card.

Helpful to 2 out of 2 people

Doesn't matter for your score whether you pay the minimum payment or in full, but why pay the interest.  Pay it off in full.

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Agreed with the previous poster, but I would like to add that your friend is likely telling you split up the payments because it is good to actively use your credit cards.  The best course of action to utilize both the previous poster and your friend's advice at the same time, is to pay it off in full with your tax refund, then here on out just charge gas or groceries (stuff you would pay cash for anyway) on it once a month ($50-100) and then pay the full balance each and every month to have more on-time payments and an actively used card. By paying off in full each month you will never be charged interest either.

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