Can I get a good credit history if I’m paying my bills just before its due date?
Question by zack.spear: Can I get a good credit history if I’m paying my bills just before its due date?
Because I hate interests/financial charges accumulating when it’s late.
Best answer:
Answer by AnswerGuy5
Pay your bills on time. This is the best way to improve your score, and it’s never too late to start. Even if you’ve had serious delinquencies in the past, those will count less over time if you keep paying your bills on time.
Give your answer to this question below!
yes, paying your bills on time is the only way to get a good credit history
You are paying your bills on time, your credit rating will be fine.
Yep, even if you pay on the exact date it is due, it will help increase your credit scores the more you use them and pay them off. If you pay late, then that will decrease your credit scores.
Interest is terrible. I forgot about one bill about 3 years ago and had a panic attack when I had a $ 10 late payment charge on my next bill! I paid it the day I got the bill with the late charge and they never reported it to the credit bureaus since I brought it up to date so soon.
Get you a desk sized calender , write down every bill , due date . If you’ve extra cash , mail those bills , early like 2 weeks . Once you’ve those sent off , the following month
you will be on schedule .
You’ve to work with your paycheck for all this to work out.
Every 2 weeks I mail my bills , 2 weeks early , I have it worked around the due dates and paycheck …..
It’s going to take time for your scores to work ,takes time.
Many companies aren’t giving the customer enough time to send there bill , which is wrong , congress at one time , wanted to set a rule , where customer’s would’ve time to mail it . I don’t know if this passed , which I did .
Because I have one bill the day , I recieve it , I have to write a check out , and mail it ( the same day ) . The company only giving me 11 days till due date ….that’s not plenty of time . I have to either get this paid in full or make sure I have the money for that bill . ( monthly ). I never called the company and said , hey , change the due date you aren’t giving me enough time , which isn’t right .
Staying on schedule is the best routine for anyone .
YES-
Paying on time is the best way to keep a great score. Everyone starts out life with a perfect 850 score. Late payments, over-utilization and failure to pay will detract from the score.
Keep in mind that your revolving credit balances over 50% (over utilization) of your credit line pull down a credit score. Car loans are not revolving, so overpaying the monthly car loan won’t impact your score as much as paying revolving accounts on time.
Most importantly, review your credit reports quarterly from Experian, Trans-Union, and Equifax. Reports are free and you can question incorrect postings. (any documentation helps).
The “score” might be fee based, but if you want to purchase a home or a car, you should know where you stand. A better score gets the lower interest rate.
A FREE TIP- when you are offered a credit card at Home Depot or Sears for a “teaser”, like 10% off this purchase, be aware- if you are approved for the $ 2,000 credit line on this $ 2,000 lawn tractor- you have immediately lowered your score !! Be sure to ask for DOUBLE the credit line on your purchase to preserve your credit score.
Another FREE TIP – if you want to raise your score, ask your existing creditors to INCREASE your credit line under the asumption you will spend MORE money with them. The higher your UNUSED credit limit, the HIGHER your score
LAST FREE TIP! Do NOT close inactive accounts.
good luck !