Use it for damn near everything and pay it off as soon as the transactions posts. In other words, as a debit card, like you're supposed to.
Use it for damn near everything and pay it off as soon as the transactions posts. In other words, as a debit card, like you're supposed to.
Super Saiyan 3 Goku posted...
Use it for damn near everything and pay it off as soon as the transactions posts. In other words, as a debit card, like you're supposed to.
Typical millennial. This doesn't improve your credit score at all. They are meant to have a running balance on them each month.
Super Saiyan 3 Goku posted...
Use it for damn near everything and pay it off as soon as the transactions posts. In other words, as a debit card, like you're supposed to.
Typical millennial. This doesn't improve your credit score at all. They are meant to have a running balance on them each month.
Typical millennial. This doesn't improve your credit score at all. They are meant to have a running balance on them each month.
a running balance does not improve your credit score
that being said, there's no reason to pay everything off immediately. you can do it once a month and have no negatives
that being said, there's no reason to pay everything off immediately. you can do it once a month and have no negatives
Does it matter what you use your credit card for? Like will it affect my credit if I just use it for $100 of grocery shopping each month or random shit?
Super Saiyan 3 Goku posted...
Use it for damn near everything and pay it off as soon as the transactions posts. In other words, as a debit card, like you're supposed to.
Typical millennial. This doesn't improve your credit score at all. They are meant to have a running balance on them each month.
Use it, then pay it off the next day. I get cash back on it, so I make money from using it.
Hell_Fire_Thief posted...
Super Saiyan 3 Goku posted...
Use it for damn near everything and pay it off as soon as the transactions posts. In other words, as a debit card, like you're supposed to.
Typical millennial. This doesn't improve your credit score at all. They are meant to have a running balance on them each month.
I'm pretty sure your credit builds faster if you pay off everything in full each month >_>
"Keeping a balance" is a myth meant to trick you into paying interest.
I'm confused, does everyone think that you accrue interest just by having a statement balance?
Its better if you have a small balance, but its literally at max a 5 point difference. Not worth the hassle
I'm confused, does everyone think that you accrue interest just by having a statement balance?
_Rinku_ posted...
"Keeping a balance" is a myth meant to trick you into paying interest.
When people say "keeping a balance", they mean paying the statement balance, not your TOTAL balance.
They can't charge you interest on any charge made less than 30 days ago. Since your statement balance is the SUM of your total charges in the past 30 day charges, but the DUE DATE is a few days/week or two past the STATEMENT BALANCE, any new charges made after the statement balance aren't included in interest charges.
Example, you buy a TV for $400 on the 1st. On the 30th, you have a statement balance of $400 (you didn't buy anything else the rest of the month). The due date is on the 12th, but on the 9th you bought a PS4 for $200.
Your total account balance is $600, but your amount due on the 12th is only $400. Even though you're "keeping a balance" of $200, that doesn't get charged interest, unless you keep that balance past the NEXT statement balance.
Thank you, I know exactly how interest accrues. Again, most people are too stupid to get this and "Don't keep a balance" is easier than trying to ram this into their heads.
I'm confused, does everyone think that you accrue interest just by having a statement balance?
MaverickXeo posted...
Use it, then pay it off the next day. I get cash back on it, so I make money from using it.
Your credit benefits more if you keep a balance of about 10-20% utilization, while still paying the statement balance every month to avoid incurring an interest change.
Its not enough to make a difference.
Unsugarized_Foo posted...
Its better if you have a small balance, but its literally at max a 5 point difference. Not worth the hassle
If only there was a convenient balance provided by the credit companies that just included the balance subject to an interest charge. We can call it a statement balance and even include it as an option for payment in that exact amount in a drop down menu.
Nahhhhh, too much hassle.
