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Is paying bills early bad for credit?

No, in fact paying bills early can be good for your credit score. Payment history is one of the most important factors that make up a credit score, and consistently paying your bills on time (which includes paying them early) will show that you are a responsible borrower.

Additionally, paying your bills in full, or paying more than the minimum, will also help your credit score as it shows that you are able to pay your bills responsibly. Paying off your bills early can also help show that you are an organized borrower.

As fewer bills will be outstanding, it decreases the chance of any dealings being overlooked, since all of the bills are being paid in full and on time. While managing debt is important for increasing your credit score, if you have already been strategic about the debt you carry, then there is no risk to paying your bills early.

Can you pay bills too early?

Yes, it is possible to pay bills too early. This can happen if you make a mistake when setting up a payment or someone sends you payment before it’s due. Paying bills too early can sometimes have consequences such as a refund which can take time to receive and interest payments if the bill is subject to interest.

Additionally, there is the potential for a late fee when it is time for the bill to be paid in full because the initial payment was already made. To avoid this, be sure to double check the payment date when setting up payments, as well as be aware of what type of interest fees may apply for any early payments.