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YA(CreditCard)T: Paying more than minimum but less than full

Legendary

Diamond Member
Jan 22, 2002
7,020
1
0
Okay I have a question about paying off my CC bill. I currently owe ~$480 on my credit card. My bill says the minimum payment is $10. I can't pay the full amount of the bill, but I can pay way more than the minimum payment. If I pay $100, will that hurt my credit score? If so, how much? If not, great. Thanks in advance.
 

Legendary

Diamond Member
Jan 22, 2002
7,020
1
0
Originally posted by: mugs
Why would it?
Hell I dunno, just that I've always been told to pay your CC in full or don't charge that much to it at all - just making sure.
 

mugs

Lifer
Apr 29, 2003
48,905
10
81
Oh, well it's better to pay it off in full, but you don't have that option. I thought you meant will it hurt it compared to just paying the minimum. You're better off paying the $100 than just $10
 

Legendary

Diamond Member
Jan 22, 2002
7,020
1
0
Originally posted by: mugs
Oh, well it's better to pay it off in full, but you don't have that option. I thought you meant will it hurt it compared to just paying the minimum. You're better off paying the $100 than just $10
Alright, thanks.
 

ElFenix

Elite Member
Super Moderator
Mar 20, 2000
101,374
5,375
126
Originally posted by: Legendary
Originally posted by: mugs
Why would it?
Hell I dunno, just that I've always been told to pay your CC in full or don't charge that much to it at all - just making sure.
$400 isn't going to make a difference. your ability to get more credit is affected by how much debt you are carrying, but $400 isn't making a difference
 

Beller0ph1

Golden Member
Apr 18, 2003
1,302
0
76
It will actually help your credit score, as long as you pay off the entire thing in a reasonable ammount of time. Most people believe that paying all of it off at once is the best way to build your credit, but actually carrying a bit of debt is the best. Don't worry about it, your company is thanking you for making them money in interest. But as a wise consumer, make sure you pay off the entire thing in due time.
 

RossMAN

Grand Nagus
Feb 24, 2000
78,794
256
116
Are you kidding?

No it will NOT hurt your credit score, it's always better to pay MORE than the minimum amount due.

What's even more important is WHEN you pay your credit card, always pay it on or before the due date. Even if you can only afford the min $10 payment.
 

MrDudeMan

Lifer
Jan 15, 2001
15,063
90
91
ok, here is something important you are missing. if you send them 200, they are going to apply the extra 190 AFTER THEY ADD INTEREST. you say "i am paying my 10 minimum and 190 which i want to be APPLIED TO THE PRINCIPLE!" do not forget to say that.
 

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