Everyone knows that when building credit it is imperative that you pay your bills on time. It’s even more important to know exactly when to pay. You see, in order to get full credit for your payments you should never pay your bill until the creditor posts your statement online or you receive it in the mail.
The reason for this is because if you pay your bill “before” your statement posts, your payment will not count towards your current billing statement. It will apply to the previous billing statement. The bill will be paid but you’ll still owe for the current month’s bill which could result in a late payment and impact your credit score.
If you pay “after” your statement posts, it shows the credit card company that you have made a timely payment and this payment will be sure to post for the current month’s bill and not your previous one. Additionally, if you are paying your bill in full each month, this method keeps your credit utilization lower which will increase your credit score.
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