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How can I use my new credit card to maximally benefit my credit score? (lemmy.world)
submitted 1 month ago by to c/nostupidquestions@lemmy.ca
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  • for bills, is having it on autopay with the biller superior to using it manually to pay that biller? I prefer to manually manage all that as I have for years but I figure its beneficial to get that on a credit card and just make sure its paid off. I already basically use a bills bank account to do essentially this manually

  • only purchase what I already have set aside/budgeted for and can payoff before the grace period

  • anything else?

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[–] 10 points 1 month ago (4 children)

The person above had absolutely no idea what they're talking about. Pay your balance every month. My credit is great now and I defaulted on my student loans 20 years ago. Never give the CC company a cent. Maximize your points, autopay your balance on time every month. Switch/add a card when you can qualify for a more rewarding card. Go spend some time reading NerdWallet. Don't listen to 14yos on forums.

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  • [–] 2 points 1 month ago* (3 children)

    I have a 780 score and have helped several friends and family build their credit including coming back from a bankruptcy this stuff is a hobby for me. OP was asking about credit maxing and that’s how you do it.

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  • [–] 1 point 1 month ago

    Its arbitrary though. My score was that and I had $45k debt at one point due to divorce and a move etc. They only care that you keep making payments to show they can offer you more ways to get in debt. Its stupid to pay interest to get a highacore.
    Then there was my wife who barely had an credit cars and no other assets or debt and she was over 800 somehow.

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