Should I pay off the debt in installments?

I have taken out a credit card with $500 limit. I have actually secured this card to improve my credit score. In that retrospective, should I clear the debt after receiving the bill? Is it better to pay the outstanding balance in periodic installments?

3 Answers

If you can afford to pay off debt, it is better to pay off your debts immediately rather than letting those build up. Rather than making the payments on periodic installments, it would be better to pay off the debt after receiving the bill. This is going to help you with rebuilding your credit which you are actually aiming at. Moreover, if you keep the payments for a later date, you may even end up forgetting about the payment. This again will hurt your credit.


No, its a better idea to pay it off in full each time you receive the bill. Delaying payments or making minimum payments will negatively impact your score or impede the rate at which your credit score grows.


If you are in credit rebuilding, never spend what you can afford to pay back each month.  Pay if off in full each month.

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