JackO07
|
what you have described has no effect on your credit score whatsoever. credit rating companies are only notified of late payments, credit limit amount and status of the account. if you use your credit card to buy stuff, why not take advantage of the time allowed to pay the bill only once per month? I assume you're only trying to develop a favorable credit score and that's fine. |
|
Stirfryedsushi
 |
as long as you always pay on time then i don't think there will ever be a problem. |
|
fmulder21@sbcglobal.net
 |
No, it doesn't As log as you are not more than 30 days late they don't care. |
|
DCDARLING
|
No, it won't hurt it at all. By keeping a zero balance and paying when it is due will help it! |
|
purplefrog^murtle~tree
 |
HHHHmmmm.
There's a lot of answers that go both ways it seems.
My husband and I paid off a large amount of bad debt (in collections) last year.
We are "debt free" but together our credit "Stinks"
I have a credit card with a higher balance but is paid (3x minimum) monthly so it's not having too much of an adverse affect as opposed to debt sitting in collections. :-)
We applied for a mortgage (all debt paid) and were told to come back in 2 yrs when our credit was better. (Mainly hubby's as mine is pretty good) Our bank of 10 yrs offered us NO WAY helping us repair our credit at all. Not even a suggestion.
We moved banks. The first think our banker did was tell my hubby to get a credit card - use it for what we spend the most $$ on (gas - as hubby commutes) keep the receipts and pay off the TOTAL balance at the end of the month or even better that day or the next payday.
He told us his credit would get better the more he paid off his total balance in full every month.
So. I guess it's up to you. If you're using it wisely - your payments are made on time (or before stmt day) I don't see the harm......you are showing responsibility.......I know the CC companies probably don't like it ~ as they will make no money off of you - but it's your money! |
|
dominicana
|
It's always good to maintain a zero balance and pay off any amount that you use. What really helps your credit is paying half the first month and half the next.
This is how your credit will build. If you pay the whole balance, your credit does not build. |
|
dj
|
I sure understand wanting to keep the balance down-- I pay mine off in full every month. But your credit score reflects the high balance on your card. It's better to let the balance accumulate over the course of the month, then pay it off when you get the bill. That way it'll show that people have loaned you more money, and you paid it back. You still won't incur any interest if you pay the bill in full by the due date, and it'll help your credit score. |
|
emo
|
thats not bad, it shows that u are able to manage a credit card cuz you actually use it. |
|
jb c
|
Its a rating game...give it time to build credit. |
|
princess_boricua2003
|
keeping a zero balance doesn't allow your credit to build. Make a small payment but not the entire one and allow interest to get added every couple months. This will help your credit score because the credit companies want to see that you're responsible enough to make a minimum payment every month |
|
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
