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Currently? $75 that I'll payoff after I get my statement.
nicely done. +1
pay it off every month, credit card debt is one of the worst to have, both from a numbers perspective and in the eyes of creditors. do NOT carry a balance
Absolutely true. Keeping your utilization rate below ~20% helps your credit score as well.
from my brief stint in consumer credit, I remember this was something like 40-45% of your FICO score at any given time.
200
$3,000 that will be paid off when the statement comes due
delete
I used one for awhile to build my credit, now I just keep it for emergencies. Which is stupid because I have a debit account for emergencies with 10k in it and another with 6 months of living expenses. So what kind of clusterfuck would need to occur for me to use it? I'm not sure.
Why not use one and gain rewards and pay it off every statement? If you are only using debit for everything that seems kind of silly to me to give up free money?
this is the logical thing to do. some people however, are not disciplined enough mentally/emotionally to handle credit. OR, they're so averse to debt that they hate the thought of "owing" someone money, when really what you're suggesting is what the most rational thing to do is. it's what I do, I end up getting a few nights a hotel for free every year, definitely worth it.
I think not having to deal w the headache/deadline of another monthly bill > credit card reward points. Maybe that's just me though.
@"thebrofessor" I don't think there's really a rational option. I think it's about personal preference.
Touché.
I've paid for entire vacations with credit card points. Considering that some have 400-500 dollar equivalent incentive programs, chip & PIN for international travel, 2% cash back on your typical expenses, no international fees, annual dividends on points earned and the like, anyone who passes these up are crazy. Sure, it might only be 2% (if you play the cards right), but that's straight discretionary income. Looking at it from that perspective, your "fun" money might be going up 10% or whatever, depending on your current income and spending habits.
Not to mention the fact that you can put group purchases on your card and get paid back in cash, only multiplying the effect.
I'm curious. Do you have to pay off your balance every month if you're on the introductory 0% APR still (in terms of how it affects your credit score).
Curious because it seems like an interest free loan. I'm liquid enough to pay it off, but I don't know if I have to...
thanks, man!
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