paying off credit cards

I just got my first credit card and I was wondering if I should just pay the bill all at once at the end of the month or pay every time there's a balance with online banking. I prefer the second way, I assume it doesn't matter?

Most have a limit to how many times you can do an online payment - 4, I think?

In general, I pay at the end of the month, as soon as the bill is ready. But if I make a large purchase that I was saving up for, and isn't part of my monthly budget, I'll pay that off right away.

I like having a good idea knowing how much I spent in the month (and compare that to my income), and that's easier to see by paying it at once, for me.

I pretty much do the same thing amethystgirl does, but with larger purchases I do an envelope system and save out money (cash) for that purchase prior so there's no debt stacking on.  When I make the purchase, the cash goes right to the bank so I can pay my bill. 

i've never heard of a credit card limiting payments; must be an american thing.  but vice, they won't charge you any interest until the monthly payment due date, so paying once a month is fine.  unless its a situation where you have the money now and are afraid you won't by the time the bill comes .

if the card is just an alternative to cash, and you're just trying to establish your credit, paying the balance immediately is fine.  whatever works for you!  but find out if your bank is charging you for every transaction, too, hey?

You can do it either way - like pg said, you don't get charged any interest until after you're late on your payment (the date they give you when they send you the bill at the end of the month).

If you're worried about spending more then you can afford without noticing, then by all means, pay it every time you use it.  It's SO easy to get into debt on your credit card if you're not paying attention, and since this is your first credit card, you really want to watch that.  I got into trouble with my first credit card so I know how easy it is lol.

If you're keeping track of your spending though, and you know you'll be able to afford the full payment at the end, then paying at all at the end of the month is just fine. :)

When I got my first credit card, I used it to build up credit.  I would fill my car up with gas then drive by the bank and pay it off (gas station and bank were across the street).  I was in college at the time, so I wasn't sure what my finances would be at the end of the month.  This way I was never late with my payment and built up good credit.

I got the card to mainly start building up credit history, and also so I don't have to keep borrowing mom's when there isn't another option. I rarely carry cash, or if I do it's like $30-$40 for 'just in case' money, I always just used my debit card...so I'm now using the credit card in it's place and don't plan on treating it any differently or suddenly going crazy on purchases. I just see the balance in my online banking account and get the urge to pay it lol.

Pay your credit card in full by its due date if you're just using it to build up a credit history.  If you're one day late, you'll be charged interest on every purchase right from the day it was made.  The only way to avoid any interest charges is to pay the balance due before the due date.  You don't need to pay everything that's owed, only the stuff for the current billing cycle.  It will say on your statement.  I often time my bigger purchases so they happen right a the beginning of the next billing cycle.

If you're paying it online make sure you allow a few days for the electronic transfer of funds to take place.  I think some cards to limit how often you can pay online during the billing cycle.  It's easiest just to pay the one time, right before the due date.  With my cards, the date varies every month, so one month it might be March 14, then the next month April 12.  

Credit cards are wonderful if you don't carry a balance.  Carrying a balance or getting a cash advance is where people get into trouble.  A cash advance always has interested associated with it straight away.  Good luck with your new card :) and getting your credit history up and running!

You are also charged interest if you pay the 'minimum amount due' instead of the balance, whether it's late or not. (Depending upon what your particular deal happens to be)

For credit enhancement it is better to pay the balance in full every month. Your score is effected by the amount of credit you have access to vs. the amount you owe.

If you have a 1000 limit for instance and have 1000 available, that speaks well of your ability to restrain yourself and manage your credit.