Re: Just a fraction of my LOC

Posted by observer (64.12.96.78) on December 31, 2003 at 10:55:37:

In Reply to: Just a fraction of my LOC posted by Johnny's girl on December 31, 2003 at 09:45:20:

How much can I pay TODAY (to save money) and still protect my credit?

The question just makes no sense. The sooner you replace higher interest debt with lower interest debt you will begin to save money. You protect your credit by paying on time and in the agreed amount. There is no way your credit will be hurt by paying off those credit cards in full today.

You can have great credit and not carry a balanace. My brother has scores in the 790's. He has 2 credit cards and has has them for over 20 years and he never carries a balance. He uses an Amex for business and a Citibank card for everyday use. He pays in full the day he gets the bill. When the card company updates your credit file to R1 every reporting period, it shows usage and payment history. No need to play games with trying to carry a small balance.

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