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| Topic | My credit score went down by 12 points :( |
| InfestedAdam 10/19/17 5:52:03 PM #23: | Lightning Bolt posted... What do you mean? People who generate a ton of debt and let interest accrue, but still actually pay back, are the most profitable customers. That's what the system tries to aim for, though it errs on the side of responsibility since the customer paying before interest builds is better than just not paying ever. I forgot who mentioned it but a fellow PotD said those who regularly pay off their balance are more desirable than those who don't and incur interest. Like you said, banks make more money off those who incur interest but at least they know they'll get their money back from those who actually pay off the balance. Even among those who pay off their balance each month, banks still make money from the various transaction fees charged to the vendors. I think the terms are revolver for those who incur interest and nonrevolver for those who always pay off the balance each month. --- "You must gather your party before venturing forth" "Go for the eyes Boo! Go for the eyes!" ... Copied to Clipboard! |
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