credit question...
Thread Starter
Joined: May 2001
Posts: 7,713
Likes: 2
From: omotesando
dudes,
chill.
there was a little debate going on in my office
on amex cards so
i just wanted to know more about it.
about 5 visa, 3 mastercard, 4 cars, a bike, a mortgage and so on
are all in my history so
"establishing" credit or
"how it works" is not my issue here.
well, you can still debate and discuss but
looks like i got my answer here,
so thanx, everyone.
chill.
there was a little debate going on in my office
on amex cards so
i just wanted to know more about it.
about 5 visa, 3 mastercard, 4 cars, a bike, a mortgage and so on
are all in my history so
"establishing" credit or
"how it works" is not my issue here.
well, you can still debate and discuss but
looks like i got my answer here,
so thanx, everyone.
Thread Starter
Joined: May 2001
Posts: 7,713
Likes: 2
From: omotesando
Originally Posted by PanteraKitty,Aug 31 2006, 04:32 PM
And when you get other credit cards, keep paying them off monthly. DO NOT pay those ridiculous interest rates!! If you cant pay it off monthly, dont buy until you can or get a real loan at a reasonable interest rate!!
no offense but
i don't believe in this...
The oldest myth about credit cards is the idea that you should pay off your cards every month to earn an excellent credit rating. Set your own record straight! Credit reporting agencies like Equifax and TransUnion show the most favor to credit card holders who carry small balances on their cards month to month. This proves to the agency that you're comfortable carrying and responsibly managing debt. Cardholders who follow this rule can watch their credit rating rise.
Joined: Dec 2005
Posts: 3,056
Likes: 1
From: Stockbridge, Georgia
Originally Posted by seung,Sep 1 2006, 04:51 AM
Monthly payoff doesn't do much to help your credit rating, but it does not hurt it as badly as many prople claim.
Thread Starter
Joined: May 2001
Posts: 7,713
Likes: 2
From: omotesando
Originally Posted by PanteraKitty,Sep 1 2006, 08:19 AM
The suggestion to pay the entire balance each month had nothing to do with credit rating. I'm cheap and I'm old. I choke on any interest rate over 6%.
Monthly payoff doesn't do much to help your credit rating, but it does not hurt it as badly as many prople claim.
Monthly payoff doesn't do much to help your credit rating, but it does not hurt it as badly as many prople claim.
got your point.
thanx for the input!
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