-
Does paying a credit card statement in two installments online hurt my credit rating?
Posted on May 5th, 2009 5 comments
Copper asked:
I have an online credit card account (at, let’s say Chase), and I have a $600 credit card statement, and I have three weeks to pay it off. If I pay $150 right away and $450 a week after the statement date, will they report a late $450 payment to the bureaus or will I be all paid off as long as I pay the statement balance before the grace period ends?
KEN5 responses to “Does paying a credit card statement in two installments online hurt my credit rating?”
-
pay before the grace and your fine, so two installemtns is fine!
you can call them and tell them that is what yuo are doing and they love that! they can wave fees first time if you are late too.
just talk to them! -
Ken S May 8th, 2009 at 09:15
You have to pay the minimum payment before the due date.
-
Is the minimum payment $600 or is the balance $600. It is hard to tell from your comments above. If the minimum payment is $600 then you will need to make both payments by the due date to avoid a late payment being reported to the credit bureau.
-
bdancer222 May 11th, 2009 at 20:57
As long as you pay at least the minimum payment before the due date, you will be reported as “on time” to the credit bureau. If the second installment is after the due date, you will have to pay interest on your next statement. To avoid paying interest, you have to pay the whole balance before the due date.
-
vincent May 14th, 2009 at 20:19
since both payments are made before the due date you will not be charged a late fee, and even if you only paid the 150 payment it would be enough to cover the minnimum
DEE CON CHESTED May 6th, 2009 at 09:59