70 replies to this topic

[Kurb]

He's right. You have to leave a balance every month. I use a credit card to buy gas, generally around $500/month. I pay it all off at the end of the month, minus around $30-40 to leave a balance. If you just pay it off every month it isn't getting reported.

That is what I was told by someone high in the banking industry. I'm sure you'll tell me how they're wrong.

Why would I do that?

I didn't know this.
*shrug*

[Dr Pepper]

Invest in land & more land.

[Dr Pepper]

Cherish your parents while they are still alive.

[Hawk]

learn from other's mistakes, you won't live long enough to make them all yourself

[Darth Biscuit]

I can't build credit if I pay it off Every month

He's right. You have to leave a balance every month. I use a credit card to buy gas, generally around $500/month. I pay it all off at the end of the month, minus around $30-40 to leave a balance. If you just pay it off every month it isn't getting reported.

That is what I was told by someone high in the banking industry. I'm sure you'll tell me how they're wrong.

Why would I do that?

I didn't know this.
*shrug*

I've heard this too and idk if it's true or not. I will tell you this... my wife is a super tightwad... she always pays our card off every month. It hasn't seemed to ever have had an adverse affect on our credit...

Of course, we have a mortgage, car payment(s), power bills, etc. that she's always been religious about... in the 18+ years we've been married she's been late on like two payments for something and one of those was an online error by our bank.


Here's some credit tips...

http://www.nerdwallet.com/blog/2012/easiest-raise-credit-score/


In general, if you have accounts in your name, and you keep them up to date and don't have late payments, your score will be fine.

[pstall]

Paying off full is a short term boost to the score. The key is on time payments and oldest ACTIVE card.

You can pay off each month and if you stopped using your card for a year it won't dramatically lower your score.
Part of the fico algorithim.

[stirs]

Leave the Huddle now, and never return

[Cat]

Don't go to tanning beds, use sunscreen, eat healthy and avoid car payments especially large ones. Oh and don't waste your life away on the internet.

[CatofWar]

Find who you are and be that person. People will always try to influence you and your decisions. Whether it be friends, parents etc. fug them. Say what you want to say. Do the things that you want to do.

[Mrs Pantherfan]

Why would I do that?

I didn't know this.
*shrug*

Both are right actually...Visa's and Mastercards..leave a balance...Store Cards such as Amazon and Belk..pay that poo off..if you don't ..pay it EARLY..b/c if you're so much as 1 second late they report it as 30 days late PLUS hit you with a $35 late fee...


Don't do drugs

Don't smoke

Take school seriously..whether it's high school or college..way harder to go back in your 30's
don't fug your credit up..when it comes to buying a house and cars....makes it quite difficult (trust me, i've been there and gone though it..I'm 35 and I finally have really good credit)

Don't be an asshole..treat others how you'd like to be treated

Stay in shape..really hard to get back there when you're a fatty

[catfang]

Drink and bang bitches.


Wait, what?

[The Saltman]

The borrower is slave to the lender.

Cash is King.

The fico score is the devil.

[Hawk]

you can't take it with you...spend it while you are here!!!

make your money and your equity work for you....living in a million dollar home is wonderful, but not if you are broke all the time!

[The Saltman]

When your wife wants to have sex with you regardless if she is on her period or you just had sex , do it. You never know when it will be the last time.

[Scrumtrilescent]

You can't be me, so settling for second best is not the end of the world. Hell, there's even third place.