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Steve V asked in Business & FinanceCredit · 1 decade ago

does paying the minimum due on your credit cards hurt your credit score?

Also does it matter if you are getting 0% APR or not?

Does it only hurt your credit score if you "dont" make atleast the minimum payment when due?

10 Answers

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  • 1 decade ago
    Favorite Answer

    No but a large balance will affect your ability to get further credit. On a side note (if you have any APR) since most companies use the average daily balance method of calculating the finance charges, even if you're only making the minimum payment you need to send it in as soon as you get the bill. The longer you wait the higher your finance charge.

    Source(s): 2 years as a CSR for a major credit card issuer.
  • Anonymous
    5 years ago

    I've answered you before. For those top scores, pay your credit card in full each month. Not the minimum, not more than the minimum but in full. This way you never pay interest and develop great credit. Carrying balances is an easy way to destroy your credit. ---- And for goodness sake - no. It does not hurt to pay your credit card in full before the due date. This is the type of thinking that kids have that have everyone up to their ears with credit card debt and bad credit scores. Contract? Violated a contract? Where do these people get this from? No wonder you are confused - you keep getting answers like that.

  • 1 decade ago

    No, but if your balance is a large percentage of your credit limit it does.

    Zero APR shouldn't effect your credit score and helps when you are only paying the minimum.

    If you don't make the minimum payment, you are late and that will hurt your credit score.

  • 1 decade ago

    Paying the minimum amount does not hurt your credit. What is does though is if you want an increase in credit line this can be determining factor. The 0% is a good deal, especially on balance tranfer for the life of the loan.

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  • 1 decade ago

    It doesn't harm your credit score. Be sure that you are making at least the minimum or that 0% APR will likely jump to something ridiculous.

  • 1 decade ago

    It can hurt your credit score if you are only making your minimum payments. If you have a $2,000.00 limit and your balance is $2,000.00 and you are making minimum payments you are completly maxed out. On the credit bureaus website they state that you need to have 50% available credit on your credit cards at all time. Always try and make at least double the minimum payments so that you can eliminate yourself from any credit card debt that you have.

    Source(s): www.experian.com www.equifax.com www.transunion.com
  • Danny
    Lv 5
    1 decade ago

    It does not hurt your credit to pay the minumum. I would recommend doing this while you have 0% and pay your extra money on cards that are charging interest. If the one card is all you have, you will want to pay more than minimum or you will never pay it off.

  • 1 decade ago

    no it does not hurt your credit as long as you are paying the minimum

  • Anonymous
    1 decade ago

    only thin you help is the bank pay it off throw it away cash only or at least pay off monthly at 23% it's just a tad to high

  • Anonymous
    1 decade ago

    No it doesn't but it could cost you a lot in interest.

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