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.
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...
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.