When Should I Pay My Credit Card Bill?
When Should I Pay My Credit Card Bill?
When should you pay your credit card? Depending on when you pay, you might be able to lower or avoid your interest charges. If you need help with credit card debt, paying more than once a month can mean paying more overall, helping to pay down your balance. When and how to pay your credit card bill could help improve your financial situation.

The typical credit card cycle is 30 days. While your payment date is typically defined when you open a new account, you can also request a change if one day of the month works better for your billing schedule. At the end of the cycle, you’ll receive a statement, and if your balance is not paid in full, an interest charge will be added. You can figure out how much interest you will accumulate with a credit card interest calculator. With all of this in mind, is there a way to avoid interest by paying early, throughout the month, or on a different day? Here are a few things to consider.

When Should I Pay My Bill?

Ideally, you pay at least the minimum on or before the due date, as missing a payment could significantly hurt your credit score. But if you can, you might avoid interest by paying off your balance before the due date. Hopefully, when you opened the credit card, you knew what is a good APR for a credit card. If you have a good APR, you’ll have a lower interest charge compared to other cards. However, you can avoid a charge if you pay on time. This also helps you avoid any late fees. You may want to set up an automatic payment if you struggle with remembering to pay your bills.

Can Paying My Credit Card Bill Build Credit?

There are a few ways your credit card can contribute positive factors to your credit score:

The first is your credit card history. The longer the card has been open, the better.

The second is how much of your credit limit you have used. Paying down your credit cards, so you have a utilization ratio below 30%, is a positive factor.

Finally, credit card bureaus highly value paying on time. Paying your credit card on time can help as a significant positive credit score factor. Your lender will report on-time payments to the credit bureaus.

How Often Should I Try to Pay Down Credit Card Debt?

There’s never a wrong time to pay down credit card debt. If you need help with credit card debt, some services might be able to help. You might qualify for a personal line of credit to pay off your credit card or find a service that can help you manage your credit card balances with automatic payments. You may want to pay twice each month instead of only once if it works better with your schedule. Whatever works best for you, just be sure you always pay on time.

How to Be Strategic in Paying Your Bill

If you are strategic, you might end up paying less interest. The lower the balance when interest is calculated, the less the interest charge since it is a percentage-based calculation. Otherwise, being strategic depends on whether you can pay off your account in full each month. If so, you will want to pay before the due date to avoid interest charges. If you are trying to pay it down, you will want to pay more than once each month.

About Tally

Tally wants to help you worry less about credit card debt. With Tally’s help, you could achieve credit card debt payoff faster, and the service makes the entire process as easy as possible. Through a Tally line of credit, you can pay off your credit card balances and then pay back Tally with one simple payment. The Tally app offers other resources, including a credit card interest calculator, so you can discover the true cost of your credit card debt. Plus, learn more about credit cards, budgeting, and more tips through the Tally blog. Credit card debt can feel insurmountable, but Tally is here to help. Check your eligibility today!

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Disclosures: Lines of credit issued by Cross River Bank, Member FDIC, or by Tally Technologies, Inc. (“Tally”), NMLS #1492782 (; see your line of credit agreement. Lines of credit not available in all states.

†To get the benefits of a Tally line of credit, you must qualify for and accept a Tally line of credit. Based on your credit history, the APR (which is the same as your interest rate) will be between 7.90% - 29.99% per year. The APR will vary with the market based on the Prime Rate. Annual fees range from $0 - $300.