 Which bank has the best credit card? |
list your banks and % rates
do they ALL rob us blind?
how many offers do you get in the mail (per month)?... |
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 Do you have to sign the back of your credit card? |
| Personally, I think it's a risk of someone stole your credit card and forge your signature. What do you think?... |
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 What many credit cards should i have? |
Hello,
I make around 40k per year, i currently have a visa card with $11,500 limit (i owe around $4,500 on this card), i just got a AMEX blue card the other day.
How many cards can i ... |
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 Best way to increase your credit score? |
| What is the best way to help increase your credit score? Especially if you have a foreclosure on it?... |
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 How do i improve my credit score? |
| i have a default notice on my credit score and it is seriously affecting the credit available to me. It is not a big credit default and was due to a mistake on the part of the company. They don'... |
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 What do I do if I recieve a Collections notice from more than 10 years ago? |
| My credit history shows no account with the company they claim that I had an account with.... |
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 I need serious advice people! I need to get my life together!? |
| I am 19 yr. old female who turning 20 in a couple of weeks. I have a really bad past. I used to drink alot, smoked all the time spend my money recklessly whatever it was I did it. When I was 18 I got ... |
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 Is it true that bad ratings come off your credit report after 7 years? |
| From what date are the 7 years calculated? Once the time has passed will they automatically be taken off or will i have to something to make sure they will come off. What if they are charged off ... |
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 I am 23 years old and I have bad credit how would I go about getting good credit? |
| I have acct. charged off on my report from credit cards when I was younger-Should I try to contact the card companys to make payment arrangements or what should I do?... |
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 Is there a real work at home job? where is it? |
| I'm disabled and can't go to a job everyday. but i would like to have a real work at home job, my money is very limited.... |
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 I want to buy a house in Jan. My credit score is 581. What can I do to improve my score and loan qualify? |
Additional Details
I have no credit card debt, all my bills are on automatic pay from my checking account, and my car is paid for. Good income and I have saved 15% for the down payment.... |
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 Was I robbed at Mcdonalds? |
| I cant tell. I tried using my debit card to pay for a meal but it was declined, the guy let me take it out and out it in another 2 times but it was still declined. I went outside and got some cash ... |
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 Is it forgery if i use someones credit card but still pay the bill? |
| i used my roomamates credit card, signed his name, but i had no intent to defr4aud him as i payed the bill in the whole amount. the roomamate still wants to press charges.... |
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 Please reply as soon as you see...............Its Urgent? |
| Someone has to return me some amount of money which was borowed from me months back,but later when he refused to return I filed a case against him but now he is claming that not he but I have to give ... |
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 I am just curious my sister wants me to open her up a bank account in her name but? |
| She has had 2 previous bank accounts she overdrew one for two hundred the other for about nine hundred, I told her she should still try and open another so she can get direct deposite. I really don�... |
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mb20and151 | I'm confused! How are you supposed to pay on a credit card to build your credit score? |
I've heard to keep 1/4-1/3 of your max. on the card to show you can pay and I've also heard you're supposed to pay it off completely every month. Which way helps your credit score the most?
I've been carrying a $500 balance on a $3000 limit card to build my credit....but if it's better to pay it off entirely each month, then I can do that too. I just don't know which is the best way! Why isn't this stuff taught in high school??? |
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$m¤¤v¥ £¤¢¤
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I definitely agree with what you're saying. Instead of drivers eductaion, they should have financial education. If that were the case, we wouldn't have anywhwere near the problems we're having now as a country. Enough about that, I'm going to answer your question. You're doing fine. And either way, whether you carry a balance or pay it in full, builds credit. My preference would be to only make small purchases that you can pay off on time. It's not how much you're in debt, but how well you pay what you owe. There's no sense in leaving a balance and something happening to where you end up not being able to pay it. |
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bdancer222
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Pay the card off in full every month. It is an urban legend that carrying a balance and making small payments improves your credit score. Credit card companies do not report how much your payment is. They only report if it was on time or not.
Carrying balances of more than 30% of your available limit hurts your score. Pay the card in full every month. Save the interest and stay out of debt. In fact, the credit card company is likely to increase your limit if you pay in full each month. |
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cedykeman1
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Not paying off cards completly every month is the worst thing you can do. Credit companies may not enjoy not making interest every month but with a history of paying off debts they are going to be able to extend you more as they know you are responsible. Other companies will get your credit repot -- like car dealerships and say well she pays her debts therefore we will sell her a car because she is a low risk, therefore you will get a low interest rate.
Holding off on paying the entire balance is costing you a lot money, add up all the money you pay in year in interest and instead of just giving it away, you could turn the tables and make your money make more money by holding it in a interest bearing account-- or better -- invest the money for your own future.
I can't stress enough now important it is for you to pay off those cards
EDIT: It's not like they aren't making money, lets say you have a VISA card, well everytime you use that card , VISA charges the merchant a small percentage, you actually pay for the charge in higher cost for the item, but the VISA Company makes a little bit and the issuing credit card company gets a little bit of it too. So in reality everytime you use your card they make money-- even if you completly pay off your balance every month-- stop paying them interest--your making them rich for no reason. |
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anonimitie
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First option is for building your credit: keep a small balance to demonstrate that you can handle being in debt. Paying it of all at once is in your best interest to, well, avoid paying interest.
If you are paying student or car loans, those are better ways to build your crdit rating than carrying a balance on a credit card. |
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src50
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"bdancer2" is exactly correct. |
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dpcarras2007
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it doesn't matter which one you do, paying at least the minimum will give you the credit for timely payments, however when someone pulls your credit your points will be reduced if it has a balance of 50% or more. It doesn't matter the amount of the card, i.e. 300 limit and you have a 150 balance your score will decrease. Also remember that credit reports at the first of each month for most companies so you will want to make sure to have your card paid down by that time. Lastly it is best if you can pay it off each month because you will pay less for interest but for credit a payment is a payment no matter what the amount. |
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Friendly Stranger..
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The way you build your credit score is to pay your bills ontime. If you do it enough eventually you will have a higher score. I should know about that. I have been blessed to pay my bills on time. |
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The Lemur
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I'm not sure which is better, but I do have a friend with a 780 score and she pays hers off every month. |
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Mrs.Lopez~has 2 wants 3
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I had the same problem when I turned 18, so I got a credit card and just paid my bill off every month. I have never had a balance on my credit card, my credit score is now up to 710 and I am only 22 years old.
So yeah it does work, just pay of the entire balance!! |
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fonovitrea
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mm..you seem to be another one of those people who just realized that someone is taking advantage of you.
they dont teach it at school since they know this does not serve the credit companies.
if you want to build a credit score, avoid doing it whith the credit cards you use to buy things that loose value by the minute you buy them
ice cream, clothes.
use debit cards, if you dont have the money, you cant afford it. period.
take a loan, to buy something that will be worth much more in the future.
education,investements , a home?(check first how the housing crisis is in your area).
funny thing is, banks want you to get debt so you are worthy of more debt. |
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★★★ Katharine ♥♥♥♥
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I have an over 800 credit card score and I pay it off every month.
When I had money on my credit card - it brought it down to the 700's.
So, I'd pay it off every month - it stills shows your high balance of that credit card - and then, that its paid off. |
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G8R
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To build your score, use credit. Student, car, home loans, credit cards etc... But pay it off- why pay the interest to the bank, KEEP YOUR MONEY! |
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xbluebellax
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The answer is both...you want to pay your balances off every month and keep them low. Using about a quarter of your limit is best if you can afford to pay it off. Showing the companies that you won't abuse your credit is a great way to earn their trust. Everyone wants their money these days, so putting off your payment won't help u at all. |
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ppc422
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Paying it off completely doesn't really matter. You can carry a $500 balance by spending $100 and paying $100 each month, or by spending $500 and paying $500. Either way, show that it has some use and isn't just sitting there. And most importantly, NEVER PAY LATE! The whole 1/4-1/3 of your max doesn't really matter either. You can spend $10 a month with it each month if you want, just make your payments on time. |
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bryce k
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The credit report that credit cards companies recieve will show you how much you are paying each month and the average payment you make. So if you have a credit card balance of 500 and every month you charge 500 and pay it off fully each month this is best and will raise your score the higherst. This will show that you can afford to pay the debts that you charge. Also you can max out your card evey month as long as when you make a payment the payment brings your balance under 30% Of your total available credit. Now if you have been carrying a high balance on your credit card and you have been making minimum payment and all the sudden come into some money and pay the balance in full, this can actually lower your score. So if this was the case it would be better to make equal payment over a six month period to pay off the balance.
http://creditcardwarehouseonline.com
http://creditcardwarehouse.ecreditdirectory.com/ |
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Amused Contestant
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I agree with the high school thing. What's a credit card for if you pay off the balance every single month? But, maintaining a 500 balance every month also suggests to those folks that maybe you're stuck. Not good. You should always work your way down to a zero balance in a short time. Then they want you to go out and charge more stuff, then work that balance down to zero. That is building a good credit history. |
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heybulldog
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Never carry a balance on a credit card. In fact don't even carry a credit card. A debit card will do anything a credit card will do except get you into debt.
Credit cards are designed by banks to get you into debt and keep you in debt. Same with the fico score.
You have to borrow money and make payments on time to get a high fico score so that you can go out and borrow more money and make more payments paying lots in interest. It's a terrible financial plan. You will never get ahead making payments. You also have to keep borrowing money and making payments on time to keep a high score. It will bring you nothing but debt and payments.
Look thru these forums for a couple of days and you will see all of the people that worship the fico and play the credit card game and are losing. It's not worth it.
If you pay as you go.
If you live on less money than you make.
You will have money and will not have to worship the fico score.
The only time that you might have to borrow money is for a home. You can do that without a fico score. It's called manual underwriting. It's not a sub prime loan. It's the way home loans were givin' before all the fico score worship. You can get the lowest interest rates out there. |
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Jacob's Mommy
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NO, you should not pay it off completely each month.
If you do it shows that you can afford it and it will not build your credit score.
Pay at least 1/4 of your balance every month till it's paid off, then buy more stuff.
Don't pay then spand the amount you just paid, that will not build your credit score! |
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