What will happen if you pay debt in full in one payment?

Is it better to pay debt in full because i am can not remember to pay it every month. What will it do to my credit score?

What will happen if you pay debt in full in one payment?
Nothing wrong with full payment . But the companies would rather have you not pay promptly so that they can collect interest on unpaid balances. They like 17 1/2 % return on your debt. That is much more than they made selling you the product.
Reply:The best thing to do is pay off you credit cards or any debt as soon as possibly. Having no debt is the best thing for your credit. As a rule you should never be putting stuff on a credit card that you don%26#039;t have the money for. I always use my credit card at least once a month (just to establish credit) and then ASAP when the paper bill comes in I pay in off right then and there. I keep up on it to make sure there are no additional fees by being late. To be completely honest if you are not mature enough to remember to pay a bill on time the I do not recommend a credit card, that is just irresponsible, you may want to look into a bank that has a credit/debit card, you can use it just like a credit card, but only spend the money you have at that moment and you never have to remember to pay a bill. I wish you good luck with your financial future.
Reply:Read the other answers and paying in full is good. But it does not help with a credit rating. And may have the opposite effect since as pointed out, companies make their money on interest.





Suggestion: use a bank that make your payments directly from your account. Then make two or more payments every month. It will decrease interest and give you a good credit rating. And you do not need to remember sending the payment. using on line banking lets you check your account every day. Warning: some banks have a limit on transferring funds from one account to another for online banking. Transferring funds best be done in bank.
Reply:i pay in full all the time. some might say that your FICO score will increase if you reguarly pay a credit card bill, but i say PAY IT OFF if you can. why have it lying around there. chances are if you%26#039;re the type of person that pays bills on time, then your FICO score is probally good.
Reply:It would be better for your credit score if you paid monthly for a while, but if you can%26#039;t remember to pay on time, you should pay it off. Have you thought about online bill pay? You just have to schedule the payment for the due date and the bank will send it off for you (assuming the money is in your account).
Reply:Paying in full is always best because you won%26#039;t attract any addition interest on an outstanding balance. You also have to remember to keep your usage under 25%, not maxing it out. This will keep your debt to income ratio low and your score high.
Reply:It is always better to pay your debt up in full, if you can afford to, as it will always give you a good credit account, plus you don%26#039;t have to pay any interest on the money you owe, if it is paid in full.
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Reply:There is nothing better you can do actually. Pay your debt in full and your credit score will go high.