This may be a dumb question but I have always wondered is it better to pay all debt of at once (for those that can) or pay it off monthly to help build credit? - Seedly
Seedly logo
Seedly logo
 

Credit Cards

Debt

Payments

Anonymous

Asked 3w ago

This may be a dumb question but I have always wondered is it better to pay all debt of at once (for those that can) or pay it off monthly to help build credit?

0 comments

2 answers

Answer Now

Answers (2)

Sort By

Not a dumb question.

Since you tagged "Credit cards", do you mean credit card debts? Those are rather expensive (high interest rates) and I rather have them cleared immediately (via auto bill payment) once the statement comes.

Clearing them promptly also builds score. ​​​

1

Question Poster

2w ago

Thank you Jiayee! This is so helpful 👍
Thank You!
Can you clarify
I wonder if
This is so helpful 👍
What about
Post

Pay all at once if you can, reduce the interest

1

Question Poster

2w ago

Thank You Jesslyn!
Thank You!
Can you clarify
I wonder if
This is so helpful 👍
What about
Post