Everyone knows that paying your bills on time is essential if you want to get — or keep — strong credit scores. But does the size of your payments affect your credit scores? Nicole, a Credit.com reader, asks:
I’ve spent the last year doing my best to clean up my financial snafus. One of the things that I did was get myself on a budget; as I am paid weekly, I broke down my bills into weekly payments and pay everything when I get paid on Fridays. It has taken the better part of the whole year to get everything under control, but with this I’ve been able to pay off the smaller of my two credit cards and stay on top of my bills and not splurge on ‘ghost money’ that is sitting in my account, waiting to be used.
But when I look at my credit report, it is showing the weekly payment amount rather than the total amount paid. Does this affect my score badly as it looks like it is less than the amount required?