| Credit card question about establishing credit? |
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Elmira Nancy
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| Credit card question about establishing credit? |
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In order to establish credit when using a credit card, should you only make the minimum payment each month? OR Is it ok to pay it completely off monthly, without ever having to pay into interest?
Thanks for your help
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Mon Apr 05, 2010 6:36 pm |
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Alice89
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Just make sure you at least pay the minimum is what I have heard. Any les then oh oh.
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Tue Apr 06, 2010 3:32 pm |
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iwillguide
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| hi |
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can you post it more clearly so u can have better answer here from financial experts.
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Sun Apr 11, 2010 8:34 am |
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salenacaitlyn
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The less credit card debt you have, relative to your credit limit, the better your score should be. So paying your full balance is not only good for your credit score, it's smart financial management.
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Wed Apr 14, 2010 12:10 am |
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clarissa_vargas
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quote:
Originally posted by salenacaitlyn
The less credit card debt you have, relative to your credit limit, the better your score should be. So paying your full balance is not only good for your credit score, it's smart financial management.
Thank you for clearing that out because I actually had that same question in mind.
Last year a ran my credit and it improved so I was wondering if paying my accounts almost fully everytime I used a card was actually boosting my score.
Now I have another question paying the minimum harms or does nothing for your score?
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Wed Apr 14, 2010 12:44 am |
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jason_simpson
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While minimum payments are the allowed amount to pay to your credit card company, they may not be the appropriate amount to limit your debt. A minimum payment does not significantly reduce the amount of money that you owe to a credit card company. If you were to pay off your balance using only minimum payments, you would be paying significantly more than if you paid the balance directly.
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Tue Apr 20, 2010 3:52 pm |
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thad99
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If looks like you are only concerned with building up your credit score, and increase your credit history. If that is the case then there are only two important things to remember is to never be late with a payment, and always pay the minimum balance. You should how ever not go into debt in order to build your credit history. One good way to do this is to buy something small every month and then pay off your bill. One good idea is to get a subscription to your local news paper.
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Fri May 14, 2010 12:38 am |
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