{ "media_type": "text", "post_content": "Do you build credit if you pay off your credit card before the statement date?", "post_id": "5912504b0ac6990016fe392f", "reply_count": 12, "vote_count": 2, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

Do you build credit if you pay off your credit card before the statement date?

like
Posting as :
works at
You are currently posting as works at

Yes. On time payments. Carrying a balance does nothing but cost you interest each month.

like

Yep, and no worries. You build your on-time payment history by making payments on time. Carrying a balance doesn't help your credit in any way so just pay it off in full every due date and you'll be gucci.

like

I always pay full ON the due date.

like

^ Me too. I've personally found it easier to track than paying before the date.

like

I don't remember the exact numbers anymore (used to be in CC for BofA) but the top influences on credit score are payment history, amount owed / utilization, types of credit, and length of relationships.

like

Maybe like within a week of paying for it?

Thanks, EY1 for elaborating. So "on time" includes paying off the balance before the due date? Sorry, just so new to this.

Most cards report if you pay on time and your available credit (credit limit minus outstanding balance). Paying early is just fine.

I may be wrong but it is optimal to have a 10-30% utilization when bill is triggered (and then obviously pay it off full by due date)

In other words op, there is no different in laying it before due date vs on the due date. I pay mine before the due date bc it makes sense with the timing of my paycheck but that cycle is already closed so they get the payment before the due date.

That isn't true. Credit card companies have a certain day each month they report to the credit bureaus. If you have a low balance on that day it will help your credit score (lower utilization). Spent 4 years working at a credit card company.

From someone who's worlked in collections in a prior life: the total balance you have across all cards out of your combined limit (known as revolving credit usage) matters. As for late payments, sure, they can charge you a late payment fee for missing your payment, but it's not reported to the bureaus until it's 30 days past the due day. Then if it's still unpad, its in 30 day increments from the original due date (60, 90, etc.) each time with a higher weighted hit against your credit. YW

Related Posts

(1/2) I started a new job less than a month ago at a large firm with a significant pay increase. I work remotely- which is a special arrangement. They paid for my travel to their headquarters for in-person training. After interacting with my manager and some of the attorneys, I feel like I made a mistake. Manager is demeaning and rude. A bunch of the attorneys dropped not so subtle hints that people who work from home are causing all kinds of problems. I don’t know what to do.

like

Is any accounting firm sponsoring for an H1B visa in tax or audit? I joined KPMG 5 years ago and heard that they quit doing so after that.

like

2 years since traveling internationally. Super excited. 4 days before flight..... catches Covid... 😒😒😒😭😭😭😭

likefunnyuplifting

Desi fam - parents visiting from India. My dad is 68 and has heart conditions. I want to make sure we get some good travel insurance. Any recommendations? Thanks guys!!!

like

I am on H1-b visa with an approved i-140. I am planning to apply for an office transfer which I think will need to have my PERM re-done. Does this mean that if I change my office, my existing approved i-140 gets voided? So essentially if I wish to leave the firm after transferring to another office will my “current” approved i140 and priority date still be valid? Or do I have to wait until my transferred office PERM process is completed? Apologies for the long post

like

I went for my h1b visa stamping and got a section 221g and they gave me the passport back and i received an email asking for background information for past 15 years to which i responded with a detailed response. This was my second h1b stamping, i got the first one successfully last year with no issues, and not sure why i got section 221g this time. I had not changed any job, the stamping was for the same exact job. Anyone has any insight or been in the same boat? Should i be worried?

like

HOT TIP: Amex is currently running a $75 off $300 promo at mr porter

like

I rented a car on vacation in Hawaii from Avis about 4 months ago. Now I’m getting mail claiming I owe 2K in damages and trying to collect. Has anyone dealt with this? The car was in perfect condition when I returned it.

like

Are there any "hacks" for free wifi when flying United?

like

Ladybug lounging on my Marriott bed.. how many points ?? 😡😡

Post Photo
like

Going to buy a $3k mountain bike. I have 110k Chase points worth 1.1k. Would you put these towards the purchase or save them? I have the cash to purchase outright

like

So ridiculous being a resident alien, felt like I got an immigration law degree. Kept explaining why an expired visa doesn’t make me illegal to HR, DMV and basically everyone that’s not a lawyer

like

Extremely anxious about starting on a client that will require regular M-Th travel. Was told that isn't common in my practice but it is the way things are headed. How to calm down and manage?

Approved for Chase Sapphire Reserve! I'm gonna have to celebrate tonight. Suggestions for Addison area?

like

Just got a check in notification from Marriott for Sunday night. Why?

like

If I have only 12 months left in my visa and no i140/priority date (perm process in progress at current employer) , is there a point in applying to other companies even if they do new hire day 1/month 1 gc application ?

like

Do the delta skylounges that are open, serve alcohol? Also do they serve food? Asking if I need to drink before going to the airport or not

like

Maybe one of you blockchain experts should create a universal currency for travel miles and points so I don't have to be tied down to one brand and we (consultants) can feel rich and loaded, for once!

like

Deloitte folks do we get taxed on our fitness subsidy? Is there difference between directly using our Amex vs a manual expense?

like
like

Additional Posts

Has anyone done a US vs Europe analysis for MBA and beyond? Aiming to shift to Product Management post MBA, mostly for a better WLB US: Houses some of the best schools with a huge tech market, but in the long term - getting a Green Card for an Indian (me) is tough, I've heard. Europe: Pays relatively less across most industries - but places like Amsterdam have a culture that promotes WLB What other things would you consider? PS: Accepted into LBS, awaiting results from US schools

likehelpful

How long before they just start uploading our consciousness to a clone in another location, so we don't really travel?

like

What applications does Accenture use? I’m guessing Microsoft Teams, Excel, Pwpt? Or is Zoom also in that?

like

How hard is it to pivot once you’re in industry? Interviewing for a New York Times strategy role but my end goal is to get into the streaming space (Netflix, HBO, Disney, etc)

like

Hello! I teach a high school financial algebra class and we have only 4 weeks left of school. Are there any projects or unit lessons you’d recommend? I want to keep up engagement. Thank you!

like

Can anyone share their offers/total compensation for a strategic program manager role, 11 plus years experience, at FAANG, Microsoft, etc

like

My Canvas account glitched. 4 years of classes disappeared today, including all modules (units & lessons) I created. On top of that, my planning copies I work on during the summer. 😭😱🤢😡

like

Overnight layover with some buddies in Doha - any suggestions for St Regis or the W? Landing around 11pm and leaving at 9am we just want to go clubbing and party before the next flight.

like

Software sales pays a lot!

like

Any idea on what lifestyle looks like for Principal/ Director levels at KKR Capstone? Someone reached out for a role and I’ve honestly never considered PE Ops because of my perception that WLB will be worse than MBB.

like

Partners how much do you spend on holiday gifts for your admin staff? and I am assuming a gift card is the norm?

like

Got an offer for 20k+ (11%) more than my current salary, but this job won’t be remote compared to my current role which is. New offer has better health plans/5 more days of PTO. Would you take it?

like

(First ever post) I originally I joined this app to learn from others in consulting on a variety of topics (gender perspectives, comp, tips/ recommendations). Ever since downloading, I see more hatred and people making judgements on others with little context. Consultants are supposed to problem solvers but instead of people sharing perspectives I feel I’m back on Twitter reading threads that only create hate. Anyone else feel that way?

like

What’s the best place to save money besides 401k and Roth? One that preferably isn’t restricted until retirement

like

Anyone hiring for fully remote accountant role? I have over 2 years of external audit experience with CPA. I am in NYC.

Moms, how do you begun to lose the baby weight? My son is turning 5 soon but I am still 10 lbs away from my pre-pregnancy weight. Things I’ve tried: -intermittent fasting -biking -running I do not have a lot of time (single mom) to exercise and cannot go to the gym either. What are other ways to lose this 10 lbs and stop looking like I am 5 months pregnant? 😩

like

Anyone looking for an HR Manager? Interested in remote work preferably in the a bay area. I have my SHRM-CP

like

What are some pros/cons of having a corporate apartment vs staying in a hotel every week? (Besides the obvious ie no points but less travel time) Anyone here with experience in both situations?

like

Tim Castree (GroupM NA CEO) announced the creation of GroupM's Diversity, Equity and Inclusion Board today via email. Out of 12, only 4 are women and 1 is POC.

Post Photo
funny

Finishing college, should I take an offer in a S&O role at a big tech company or go for consulting at tier2/big4/Accenture? Which is better for long term growth trajectory and pay progression. I know consulting can be leveraged to get a position in tech but can I also leverage my tech experience to get higher pay as well or is it not as effective as consulting?

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
Download Fishbowl to see what others are saying
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the Fishbowl app

Get realtime notifications and see
what's happening in your industry
from the palm of your hand.

For account settings, visit Fishbowl on Desktop Browser or

General

Legal