Is it bad to pay my card off immediately?
Whenever I buy something (whether it's a $7 burrito or $300 ski boots) I immediately transfer the money to pay it off back to that card. Chase online makes this super easy to do. Someone here said this was bad and won't give me a positive increase in credit. True?
I have never paid a penny in interest and have a $25,000 limit, I just prefer to have a $0 balance instead of a $5 balance or whatever.
What do you guys think?
I probably make 10-20 transfers of money from checking to credit a month.
I UNDERSTAND THIS DOES NOT SAVE ME ANY MONEY VS PAYING IT MONTHLY. I JUST AM WONDERING IF IT CAN HAVE ANY NEGATIVE EFFECT Fwiw I have a second credit card with a $2100 limit that I pay off once a month. That card usually is 400-500
Posted Dec 2, 2012, 4:31 PM UTC