A few questions about credit cards...
 

Finally got one (i was approved for $15k at 0% interest for a year and then around 14% after that year... with only a month of credit history but whatever)..

I use online banking and it gives me my exact balance that I can choose to pay any time...

1. Is it *best* to only make purchases on it that you can pay off within that month? and if so, does it effect your credit score positively if you can pay it off before the due date? Example: I go buy something for $200, and 3 days later I login and make the payment for $200.... opposed to just waiting for the bill to come and paying it then.

Basically I want to start building as much "positive" credit as possible, as I'm looking to move out / get married by spring / next summer.

Thanks.

The algorithm looks at the debt, ratio of debt to credit extendible, number of debt accounts, and a couple other things.

Credit card companies actually don't like people that pay off their balance though because they don't make as much money off of them.

you dont affect your credit one way or the other by paying you balance in full every month you do affect your pocket book

now lets say you pay your balance in full every month but you also run your card to the max every month that can affect your credit depending on when your score is pulled if you card is near the max your credit to available credit ratio is low and that adversly affects your score, if pulled when your payment was recnet your available credit to credit ration is high and that affects your score positively

hope this helps

if you're on 0% for the next year, get a cash advance on the ENTIRE amount, and go invest it...even at 3-4% you are still making money :)

LOL.. .Am sure the bank didn't think of that .... duhhhhh!

That 0% is for purchases, so the bank makes money from the merchant :2 cents:

i pay in full every month.

i did exactly that with my citibank plat card in australia. got a check for the entire available balance and put it into a 5.65% monthly paying fund.
The monthly return pays for the minimum amount of the CC due each month, so it only helps my credit too ;)

free money.. why not