I recently got a Credit Card just for the points (all because of getting an ad from Point Hacks).
The bonus points is the only reason I got it. I can easily pay it all off today if I wanted to. (That being the way I’d always like to deal with Credit Cards).
But I’ve since realised I can also use it to improve me Credit Rating.
My understanding is that if I continue to pay it off, the good repayments are now (since late last year in Australia) reported to my credit file. Therefore improving it.
My question is:
- Is it better to pay it off in full now/asap/straight after payments are made on it; or
- Is it better to pay it off at the end of each month on whatever their bill says?
No experience with credit cards so I apologise if it’s a dumb question.
Oh also, I’d prefer to pay it off asap (as I maxed it out straight away) so i can keep buying stuff on it and getting points.
So the ideal situation for me is, buy stuff on it to get points and pay it off each time the next day. Is this the best way of doing it?