Comments on: Should I pay my credit card bill in full each month?

By: homeiyi

homeiyi — Wed, 07 Oct 2009 23:12:51 +0000

Definitely pay your bill in full. What the banks or other institutions are interested in is how responsible and reliable you are. Will you be able to make repayments? Can they trust you based on your spending and repayment habits?

By: H. A

H. A — Wed, 07 Oct 2009 12:42:29 +0000

The new credit card itself will lower your credit score a little for a few months, and if you use it over thirty percent, which you shouldn’t unless you always pay it off in full monthly or at least down to a balance that is no more than thirty percent of the cards limit, or in your case to no more than $150.00 you will ensure that over the long haul, say about six months, that the card will give you your best score. Paying the card off each month in full will definitely give you the best ratings and if you are not using it over the thirty percent figure and paying it off in full each month, it will maximize the best rating for that card.

By: SPIFIMAN1

SPIFIMAN1 — Sun, 04 Oct 2009 08:29:31 +0000

You have a lot of good answers. I would only add a couple of things.

First never exceed 30% of your credit limit in any given month $150.00 in your case.

Second pay it off in full before the due date.

This will do two thing. First it will establish a payment history and second it will keep your debt to credit ratio low. These two things alone make up 65% of your credit score.

I have done this with two credit cards for the last couple of years and have raised my score over 150-points.

By: P J

P J — Sun, 04 Oct 2009 04:18:33 +0000

“Credit bureaus don’t like to see people with large credit card debt because it makes them a greater risk for a loan.”

Credit bureaus could care less about how much you owe they simply report what is in the records and the creditor makes a decision based on your debt to income ratios, how well you pay current debt etc.

By: booger0819

booger0819 — Thu, 01 Oct 2009 12:38:28 +0000

paying it off each month is better for you….you will get the same credit rating as long as you pay the amount due (whether the whole amount or the minimum) on time…why pay the extra interest if you don’t have to?

By: David W

David W — Mon, 28 Sep 2009 17:22:46 +0000

I have a UK creidt card which runs up to £2,500.00 $5,120.00 per month.

I always pay it off in full to avoid paying interest, plus if I need a loan, I always get one with no hassle.

You can’t beat a good credit rating!

By: diveace1968

diveace1968 — Sat, 26 Sep 2009 03:15:53 +0000

pay as much off as you can afford,that way your less likely to end being in debt,
they charge loads if you owe money and can take you years to pay off

By: jenel c

jenel c — Fri, 25 Sep 2009 19:01:15 +0000

Yes, you never want to in cure charges. You only want to build credit not pay fees. Always pay on time and use it often to show credibility.

By: Indiana Frenchman

Indiana Frenchman — Tue, 22 Sep 2009 09:03:07 +0000

one point of view ..

“You can maintain a good credit score as long as you pay at least the monthly minimum. However, your score will eventually be lowered if you owe too much money or have too many open credit lines even if you’re still making regular payments. Credit bureaus don’t like to see people with large credit card debt because it makes them a greater risk for a loan.

Credit card companies do prefer to see you carry a monthly balance because they make more money on their interest charges. However, your credit score has nothing to do with how much profit your credit card company is making off you. You’re doing the right thing by paying off your monthly credit card balance in full whenever possible. You’ll avoid paying high interest charges and your credit score should stay just as high, if not higher, than your friend’s score”

More at web page…

By: rubyrosecat

rubyrosecat — Tue, 22 Sep 2009 01:18:24 +0000

Absolutely yes, beyond any shadow of a doubt.

Not just for your credit rating either. These things can very quickly get out of control, and you’ll find you’re offered more and more credit cards and loans and you can end up in serious trouble with them if you max the lot out because the interest is so high.