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How can I use my new credit card to maximally benefit my credit score? (lemmy.world)

submitted 2 weeks ago* (last edited 2 weeks ago) by cheese_greater@lemmy.world 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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[–] cheese_greater@lemmy.world 1 points 2 weeks ago* (last edited 2 weeks ago) (2 children)

The limit is 5000 so what amount are we talking here?

Like 21% interest so I want to be careful but Im receptive to your point

[–] Duchess@piefed.linenoise.vip 7 points 2 weeks ago* (last edited 2 weeks ago) (1 children)

Oh lord well don’t CARRY a balance and pay interest just use the card for everything you don’t mind being tracked about and pay it off every month. This way you keep an average monthly balance but you don’t pay interest. You also can earn points with a good card most of my kids Xmas gifts come from points I save up all year just paying my regular bills.

If your nut is very tiny this won’t be much but I keep car payments, insurance payments, phone bill, every monthly bill I can on a card and pay it off every month before any interest accrues. if you’re lucky you can put rent on there. I don’t know what the exact percentages are sorry just have been gaming credit cards for years and know the score is highest if you keep them in use.

[–] cheese_greater@lemmy.world 1 points 2 weeks ago

Ya that sounded a bit off

[–] pelespirit@sh.itjust.works 2 points 2 weeks ago

As duchess has said, I agree to pay off the balance every month. I don't have an issue with putting auto payments on and my score is quite high.