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    Edmundo Daco Jr.

    No, it will not help increase your credit score even if you pay your credit card and loan repayments way ahead of time. Being an early bird will not give you some extra points. Although paying early will take away the risk of forgetting to pay, other than that it does not really count. Current credit score models will increase your credit score if you pay the bill before the due date. That means you will have the same increase in points if you pay 2 days before the due date or 15 days before the due date. What you should pay more attention to instead is your credit utilization. It accounts for 30% of your credit score. You should not always pay only the minimum because it will not lower your credit utilization. The ideal credit utilization is less than 20% of your total credit account value.

    So, if you want to increase your credit score, then pay for your bills before the due date (regardless of how many days early) and pay the full amount that is due.

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