Not paying the entire bill this month?

posted 3 years ago in Money
Post # 3
5697 posts
Bee Keeper
  • Wedding: August 2012

@mrspinesol:  NO! As long as you can pay the minimum payment it won’t do a thing to your credit. You will just have to pay interest on the difference between the balance on the statement and the payment amount that you made. If that makes sense

And don’t worry, lot’s of people can’t pay their credit cards off EVERY single month

Post # 4
2675 posts
Sugar bee
  • Wedding: May 2014 - Madison, WI

You should be fine, it’s my understanding that as long as you pay on time it won’t horribly effect your credit. Plus sounds like you’re still paying more than the minimum amount due which is also good.

Post # 5
1093 posts
Bumble bee
  • Wedding: May 2014

@mrspinesol:  No. Afaik, the only thing that gets reported to credit agencies if if you paid on time. Obviously, your balances get reported as well, but it’s more important in the long run to pay on time (like you do).

Post # 6
4513 posts
Honey bee
  • Wedding: October 2013


Post # 8
3570 posts
Sugar bee
  • Wedding: September 2011

I think your interest will be closer to around $12.

Post # 10
111 posts
Blushing bee
  • Wedding: September 2013

@mrspinesol:  You’re not being irresponsible!  This is what cc’s are intended to do:  to cover you for unexpected expenses (unless you’re a cc company — then cards are intended to make you money, but that is neither here nor there).  As others above me have said, as long you pay the minimum on time your credit will not take a big hit.  Using a large percentange of your available credit can hurt your score, but it sounds like you will have paid off the balance relatively quickly, so I wouldn’t worry about it in your position.

Post # 11
5697 posts
Bee Keeper
  • Wedding: August 2012

@mrspinesol:  I think probably most of society doesn’t pay their credit card balance in full every month. Certainly not when they’ve had an emergency!

Also I think that @MrsTVLover is more on the right track with a much lower interest charge than you are calculating, however I would have assumed what you did, 80.00. But yeah you really only have to pay your min balance on time in order to stay current.

Here’s a good description/breakdown 

Post # 12
1067 posts
Bumble bee
  • Wedding: September 2014

@mrspinesol:  Infographic: Understanding Annual Percentage Rate (APR)


it’s almost easier to post this than try to explain APR 🙂

Post # 13
32 posts
  • Wedding: March 2013

When your credit card company reports your balance for the month, you score may drop a few points for that month. But next month when it reports again and has a lower balance, you will regain any points that you lost.

Post # 15
2576 posts
Sugar bee
  • Wedding: November 2013

@mrspinesol:  Hi lady!

I do this all the time (Yes, I know the interest costs $$$, ya dee ya dee dah…), and when I was getting my apartment this summer, my credit score was 782 or so (I also have a ton of student loans). It will not destroy your credit – if anything, it’ll show that you can “handle” higher balances as long as you pay the minimums and on time.

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