Do you have a question about consumer credit? You may find an immediate answer by using the search engine. If you can't find what you're looking for, please fill out the form, being as specific as possible.
Please note: The Ask Experian team cannot respond to each question individually. However, if your question is of interest to a wide audience of consumers, the Experian team will include it in a future column.
The information contained in this column if for educational purposes only and is not legal advice. You should consult your own attorney or seek specific advice from a legal professional regarding your particular situation.
Please understand that Experian policies change over time. Column responses reflect Experian policy at the time of writing. While maintained for your information, archived responses may not reflect current Experian policy.
Topics addressed on March 5, 2008:
Making multiple payments each month can help credit scores
I tend to make more than one payment per month on my credit cards accounts. Will this raise my credit scores?
The number of payments you make each month won’t help increase your credit score. But, the results of making more than one payment might.
The number of payments you make each month is not listed in your credit report, and credit scoring systems don’t take that into consideration.
However, two things are likely to happen when you make multiple payments each month. First, the minimum amount you owe will almost certainly be paid each month. That means you won’t have any late payments.
Second, by making multiple payments, you are likely paying more than the minimum due, which means your balances will decrease faster. On-time payments and low balances are key elements of good credit scores.
Thanks for asking.
- The "Ask Experian" team