Off Topic 2016

[Scott]

Re: Off Topic Episode 2016: The Posts Awaken

Thoughts on credit cards - You guys pay them off monthly or leave a small balance each statement? I have read both ways. Some say they use it each month, but make sure they have a zero balance once the statement rolls around and others have said the opposite that they always make sure there is a small percentage used on the card.

I pay all but about $5.

[seasprite]

Re: Off Topic Episode 2016: The Posts Awaken

Thoughts on credit cards - You guys pay them off monthly or leave a small balance each statement? I have read both ways. Some say they use it each month, but make sure they have a zero balance once the statement rolls around and others have said the opposite that they always make sure there is a small percentage used on the card.

Always leave about 5-10% on there as revolving.............depending on what your income/debt ratio is.

[kehlis]

Off Topic Episode 2016: The Posts Awaken

Thoughts on credit cards - You guys pay them off monthly or leave a small balance each statement? I have read both ways. Some say they use it each month, but make sure they have a zero balance once the statement rolls around and others have said the opposite that they always make sure there is a small percentage used on the card.

If you can pay it off in full it's better. It decreases your overall exposure which is what matters.


Edit: I should add though that if we are talking about leaving a small balance or paying it all off the difference is so minuscule it would only make a difference is a very rare circumstance.

[kehlis]

Off Topic Episode 2016: The Posts Awaken

Always leave about 5-10% on there as revolving.............depending on what your income/debt ratio is.

Revolving balance doesn't matter, revolving amount is what matters. So if the card is 15k paying it off leaves with 15k in revolving credit versus 14k and change in revolving credit. Any amount of revolving balance can have a negative impact on debt to income ratio at time of credit decision.

[seasprite]

Re: Off Topic Episode 2016: The Posts Awaken

Revolving balance doesn't matter, revolving amount is what matters. So if the card is 15k paying it off leaves with 15k in revolving credit versus 14k and change in revolving credit. Any amount of revolving balance can have a negative impact on debt to income ratio at time of credit decision.

Perhaps I am wrong, that's how I have always done it and been told and I've always had good credit.

[kehlis]

Re: Off Topic Episode 2016: The Posts Awaken

Perhaps I am wrong, that's how I have always done it and been told and I've always had good credit.

Well like I said we're really talking about a minuscule difference and doing it either way should have little to no bearing on your credit. I'll expand a little more when I'm in front of a laptop.

[seasprite]

Re: Off Topic Episode 2016: The Posts Awaken

Well like I said we're really talking about a minuscule difference and doing it either way should have little to no bearing on your credit. I'll expand a little more when I'm in front of a laptop.

Not doubting your input on it at all though.............I am definitely not an expert on the subject and credit is basically the weirdest thing in the world to me lol. I've just been fortunate to always pay every thing on time (and early)

[LowerWolf]

Re: Off Topic Episode 2016: The Posts Awaken

I pay my bills on the first of the month, so I always pay whatever I owe as of the first of the month. My statement usually comes in the middle of the month, so I'm overpaying my statement.

[dickey1331]

Re: Off Topic Episode 2016: The Posts Awaken

I have like 13 credit cards. I'm also a member on a few credit card forums. Only one of them has a balance though.

[jb12780]

Re: Off Topic Episode 2016: The Posts Awaken

I have like 13 credit cards. I'm also a member on a few credit card forums. Only one of them has a balance though.

They have credit card forums?

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[dickey1331]

Off Topic Episode 2016: The Posts Awaken

They have credit card forums?

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Yeah. There's a whole new world out there with what you can do with credit cards. You use them for your advantage to get free stuff like hotel stays, free flights, etc.

I was able to stay in NYC for free last year and round trip tickets for my wife and I to Minneapolis and hotel stay there for free as well all because of credit cards.

[jb12780]

Re: Off Topic Episode 2016: The Posts Awaken

Yeah. There's a whole new world out there with what you can do with credit cards. You use them for your advantage to get free stuff like hotel stays, free flights, etc.

Wow. My card (with one of the big 4) only has cash back rewards and they take a while to accumulate.

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[seasprite]

Re: Off Topic Episode 2016: The Posts Awaken

I pay my bills on the first of the month, so I always pay whatever I owe as of the first of the month. My statement usually comes in the middle of the month, so I'm overpaying my statement.

I don't know why
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[SPTO]

Re: Off Topic Episode 2016: The Posts Awaken

I don't believe in using credit cards, that being said I have an E-Visa card that I use very sparingly.

[mb625]

Re: Off Topic Episode 2016: The Posts Awaken

They have credit card forums?

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Yeah, like Operation Credit Cards.

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