Does paying your credit card on time help build your credit score?

so i just recently received a credit card....but i would like to have a good credit score in the future...so should i just pay for stuff with my debit or does the credit card really make a difference?

Does paying your credit card on time help build your credit score?

Your debit card is linked to your checking account, so it%26#039;s limited to what is in your checking account, and you don%26#039;t have to pay anyone back since it%26#039;s your own money.

As for the credit card, paying on it on time will definetely build your credit score because you%26#039;re paying back the money you borrowed, which shows initiative on your part, which means companies can trust you and will reward you from that trust with lower interest rates and approval on loans and other credit accounts. Remember, try to pay the balance due in full when your statement arrives in the mail. If not the full amount, then pay the minimum due, plus like $20-30 dollars more, to cover interest and principal.

WHATEVER YOU DO, NEVER EVER FOREVER AND A DAY ON TOP OF NEVER, CLOSE THE ACCOUNT. THAT SHOWS PETTYNESS AND UNGRATEFULNESS ON YOUR PART, AND WILL DROP YOUR CREDIT SCORE. If it%26#039;s a card you no longer want to use, have no use for, or tired of the silly tactics by the card company; either put it away, shred it %26amp; put the pieces somewhere, or put the card on ice, literaly.

Also, make note of if your card has a fixed or variable interest rate. You probably already know what that means. If not, fixed means that%26#039;s the interest rate you%26#039;ve been given and will not fluctuate. Variable will fluctuate meaning it can rise with the economy, and rarely dips back down.

A bonus with paying good and having a steady committment with your credit card company is that you can call them up, tell them you%26#039;ve been a faithful customer ofr such and such years, and ask for a drop in your interest rate, fixed or variable.

Another thing about your credit, be very careful about who you help co-sign a loan for. Because if they can%26#039;t hold up their end of the payback agreement, it falls on you. And your credit.

Good luck on this new endeavor.

Does paying your credit card on time help build your credit score?

keeping it long term also helps your score. we see it all the time selectcreditcard.com Report It

Does paying your credit card on time help build your credit score?

For good credit, you need to pay your credit card bills on time. I don%26#039;t think debit pertains to good credit.

Does paying your credit card on time help build your credit score?

Use it then pay it off every time you use it pay it off one the first bill. Just having a credit card and not using it builds your credit.

Does paying your credit card on time help build your credit score?

The credit card and the way you pay will be looked at if you want a house a car etc. Buy on credit and pay it on time or pay it off each time. This builds your credit and in the future you%26#039;ll be glad you did!! Don%26#039;t screw it up or you%26#039;ll be sorry you did!! Good Luck!!

Does paying your credit card on time help build your credit score?

absolutely..

just having the credit card helps your credit score...

however.. if you have it and never use it.. your credit score will not change much.. but it will stay in good standing..

what my real estate agent told me was to use my credit cards.. but only buy small things, like gas, or maybe use it on a date one night.. but keep the balance low enough to where when you get the bill you can pay it off all at once..

if you do this repeatedly it will help your credit score immensely. my credit score went up about 30-40 pts in 3 months just doing this.. and it helped us get a lower rate on our home loan.

ultimately later on you should open up a couple CC%26#039;s and do this with all of them.. good credit scores will get you a long way.

Does paying your credit card on time help build your credit score?

Credit cards really do make a difference in the lives of millions of people. Once you enter the world of purchasing by credit, your life will never be the same again.

To answer your question: In order to have a good credit score, you must keep yourself in debt. Do not pay off your credit card in full, because the company will never make any money off of you.

Instead, pay only the minimum balance or a minor portion of the amount you owe each month. This way, the company gets interest from you and then raises your score with each purchase you make.

When this happens, you will receive more offers from more credit card companies with higher spending limits.

Does paying your credit card on time help build your credit score?

Every credit card transaction is a loan that has to be repaid on time with interest. Don%26#039;t ever miss out on any repayment. If you are not able to make full payments, make half, or even the monthly minimum, but don%26#039;t default. This will keep you in the good books of credit card company and help your credit score. If you are not able to pay anything to the credit card company, don%26#039;t shy away from them, call them, explain your problem and work out things so that a negative report doesn%26#039;t land up with the credit reporting agencies.

Keep your debt to balance ratio low

A low ratio means that you are repaying on time. This factor has carries a lot of weight while determining your credit score. A low debt to balance ratio goes in your favor while it hurts your credit report badly when this ratio is high. The high ratio says that you are not able to manage your finances well, borrow more than you can afford, and the repayment is not up to the mark-- in short a good candidate to accumulate a lot of credit card debt. Always, avoid giving this impression to the credit card companies. Read more from: http://www.credit-card-gallery.com/artic...