Will this raise my credit score faster?

I know that you should pay your credit card off every month. I have a credit limit of $500. If I use that up and keep paying it off multiple times within that month, will that raise my credit score?

  • Yes
    25% (1)25% (1)25% (2)Vote
  • No
    75% (3)75% (3)75% (6)Vote
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Most Helpful Guy

  • No, only because part of the credit score is a percentage of your credit limit vs your outstanding balance. There is a low percentage of your available credit line that you want to keep your balance under. Don't ever max cards if you don't have too. Paying the minimum on time also builds the score faster from what I understand, the key is to never have a late payment. Also, too many credit inquiries, credit applications, other credit card debts and loans, all factor into your credit score. Go to the federal trade commission's website, they have a ton of info for consumers on credit.

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What Girls Said 3

  • It doesn't matter if you pay multiple times a month. The company will still report that you made one payment a month.

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    • This isn't true but what she means is that the company will only report to the creditors what your ending balance is once. There's a reason why it's imperative to know the difference if you're in finance.

    • Yes Ty! @Not_Helping

  • When you're making payments on time on anything in your name will affect your credit score positively. But with CC it doesn't help significantly. Things like school loans, house mortgage, utilities... that all helps. I've had a cc since 17 and have paid it off every month and my credit score is better because of it.

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  • No, but I think it helps to pay off whatever you spent that month then buy again next month and pay that off. They might raise your limit after a few months, depending upon how much you spend already. I think you can also request an increase.

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What Guys Said 2

  • nah i don't think so..

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  • The answer is no.

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