Will making multiple payments on a credit card a month lower my FICO score?
Hi, I currently have a $450 balance on my credit card with a limit of $750. I know it looks bad on my credit report to have used up more than 50% of the limit, so I was wondering if I could make another payment this month. I have already made 2 payments to lower my balance, and was wondering how many payments per month one could make without hurting their credit score. Thanks!
Public Comments
- Making payments wont hurt your score it will help because you are lowering the balance on your card. You can make as many payments that you want as long as you are paying the min. Also you want to try to keep your balances below 30% not 50.
- Multiple payments is a waste of time. Simply wait for your next statement and make a larger payment.
- You can use this credit monitoring service to pre-estimate future scores for different scenarios of such payments - buildcredit.ifastnet.com
- No, making an extra payment does not damage your credit score. The credit report simply reflects whether you made the required payment on time or not.
