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January 13, 2013 9:16 pm at 9:16 pm
#919068
YW Moderator-42
Moderator
I heard that it is good for your credit history to pay most of your credit card balance before the month closes so that you never have an official record of owing a lot of money.
To explain, if you spend $1000 between Jan 1 and Feb 1, you will get a bill for $1000 on Feb 1 that is due on March 1. As long as you pay that on time you are fine in terms of interest. But in terms of your credit history you will have a record of having owed $1000 so it’s better to pay all or most of that $1000 before the bill closes on Feb 1.