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Someone fill me in on credit ratings...
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Posted by CC Collector
(12.220.80.168) on September 12, 2002 at 15:48:06:
Someone advised me in an earlier topic to use your credit card to buy everything on your credit card and then pay the balance in full each month to create awesome credit. Let's say I spend about $40 a month for gas, $50 for food, and $30 for cell phone, and $100 for other misc. charges. That is $220. Should I use my zero balance, 5.75% card to pay for all of these each month, then when I get the bill, somewhere around $222, pay it off each month? Will that establish credit better than just keeping empty credit card balances?
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