Yes.
I’m not going to split hairs here, but paying off your credit cards each month does three things:
- Avoids interest charges for the month
- Avoid late-fees as you’re keeping your monthly payments current and on-time
- Keeps your credit utilization score super-low
Here’s something pro you should know…
Many credit repair specialists and experts recommend that credit cards are the #1 problem in bad credit and credit repair. Be proactive – pay them down and off now.
If you cannot pay off your credit card debt each month, keep things below 30% of credit utilization. Credit utilization is the amount of used credit versus your total credit.