Quote:
Originally posted by damasa
The last thing about the credit card. If you want to build your credit a little faster, try putting a few things on the card and when the statement comes, pay the minimum balance. Yes you will be charged a little more in interest, but it shows that you are capable of making a montly financial obligation, even if it is only $10 or so.
If you have a high interest rate on the card and you just pay it off every month, the company may be more reluctant to give you a lower rate down the road, because there would really be no use anyway, they aren't making any money off of you because you keep paying the card off right away. lol
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I actually heard the same thing about student loans, that if you pay off a little each month, it does better for your credit than paying it all off at once. Now, I'm not saying this would be my choice (I could find other ways to build my credit than holding onto my loans), but that's what I heard.
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