Question

I have a question.  I have this idea & I don’t know if it’s a dumb one, so your opinions are welcome & appreciated.I have a question. I have this idea & I don’t know if it’s a dumb one, so your opinions are welcome & appreciated. My credit, as of today (2/27/20) is 591 (basically crap). I’d like to bring it up a bit. So, I was thinking of putting some automatic bills on one of my credit cards, but it still has a balance on it. Instead of the money for Netflix, Hulu, & Apple coming out of my checking account, it would come out of my Capital One. I would pay the monthly dues to the card PLUS the minimum payment & whatever snowflake payment I can make along the way. Does this make sense? Is this stupid? Am I crazy? Do you do this? Please help me.  

Answer 1

Just start paying the balance down. Lowering the utilization will make your score start rising.  

Answer 2

No. Your interest rate will jump sky high. Pay off your cards and don’t use them unless you know you can pay off the balance before the due date.  

Answer 3

I did this with my streaming services once I paid my credit card off just to show usage and maintain my card. I would wait until it’s a 0% balance to do regular bills. Keep on paying it down and that will help your credit score.  

Answer 4

Getting your balance down will help you credit score more than anything.  

Answer 5

Getting your balance down will help. Not charging more to it (even if you’re paying that off).