Anonymous
Anonymous asked in Business & FinanceCredit · 2 months ago

Credit score ?

If I want a good credit score, Is it better to pay my car payments on the day that it’s due or earlier ? 

9 Answers

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  • 2 months ago

    It makes very little difference if the payment is made on time. The only time it can matter is when you're talking about credit cards which give you a grace period to pay for reduced interest. Just pay on time, early or on the due date. Make sure you know WHEN your due date is--because there will be times your payment, even if made ON the due date, won't post for several days due to holidays, or time-lags in the banking system, or online. That's one good reason for paying earlier--so you never have that problem. 

  • 2 months ago

    Does not matter ....

  • 2 months ago

    Never wait until the day it is due.  It takes up to 3 days to process online.  3 - 5 days if mailed, sometimes longer.

  • 2 months ago

    Does not matter what day you pay it.

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  • Anonymous
    2 months ago

    makes no difference, just never be late. Late fees & interest should never be paid.

  • J
    Lv 6
    2 months ago

    I don’t think it matters as long as you don’t pay late

  • 2 months ago

    Does not matter from a credit score standpoint.  Even missing a payment but still being less than 30 days late will not affect it.  There are financial/real money out of your pocket reasons to pay on time or early though.

  • Judith
    Lv 7
    2 months ago

    I would suggest that you always pay it early.  There are often mail delays and how long it takes something to get to its destination isn't always reliable.  I always paid my bills every two weeks.  I sat down each payday and made out my checks and put them in the mail immediately; I didn't hold them for the due date.  

    Of course now everything I do is automatic withdrawals then I don't have to worry about a bill ever being paid late.  It is always paid on time.  I have never regretted setting up my rent, utility bills, insurance bills and anything else I can for automatic withdrawals from my checking account.

  • A.J.
    Lv 7
    2 months ago

    No long term effect. Paying interest has no effect. Paying before date due has no effect. 

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