Benefit of Paying Credit Card Balance Every Week

I've started to pay several of our credit cards every week, before the bill is sent.   I do this because I share 3-4 credit cards with family members.   Since I don't know what they are spending, I check periodically to see the balance on the card, so that I will have enough funds to pay the monthly bill.

Since I check the bill, I decided I might as well pay the balance, even though it is not due yet.  That way I don't forget or miss paying a large bill when it comes.  In addition, I am effectively spending on a cash basis, since I pay the balance every week.

Paying the balance weekly may also increase one's credit score since the percent utilization is lower when the monthly bill is issued.  Bonus!

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This is not financial nor credit card advice. Please consult a professional advisor.

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