Does it matter how much I choose to pay in each month?

Yes, but what matters most is that you don’t commit more than you can comfortably afford.

How much you decide to pay each month will make a difference to your credit history. Future lenders will look at how well you’ve managed credit as part of their assessment of your creditworthiness, and showing you can manage $20 a month is very different from showing you can manage $200 a month.

But remember, anything you pay will make a positive difference. The most important thing is that you don’t overstretch yourself, as a missed payment will damage your credit history. Be sure to choose a monthly amount you can easily manage – even in the event of a financial emergency.