Credit In the USA
Oct 30th 2002, 2:14 am
#31
Forum Regular
Joined: May 2001
Posts: 104
Re: Credit In the USA
Originally posted by Ap
In article ,
[email protected] says...
> My question is: who was your source that suggested carrying a balance on
> a credit card?
> If the credit card company likes payments to be made consistently, isn't
> this done when the credit card holder pays off the entire balance on
> their card (assuming they have charges on the statement every month)?
In 99% cases when you pay offf your balance right off you are cost for
the credit card issuer. Why? because you get interest free loan.
Please note that when you pay off credit card in certain time interest
does not accrue.
It does not have bad influance on your credit report when you pay off
the balance but you would do better with your score when you carry over
some balance from time to time. Why ? Because when you pay off your
balance your report shows that you never took any loan from the credit
card issuer (the balance reported by cc company is always 0) so you can
not prove that you are reliable client.
AP
In article ,
[email protected] says...
> My question is: who was your source that suggested carrying a balance on
> a credit card?
> If the credit card company likes payments to be made consistently, isn't
> this done when the credit card holder pays off the entire balance on
> their card (assuming they have charges on the statement every month)?
In 99% cases when you pay offf your balance right off you are cost for
the credit card issuer. Why? because you get interest free loan.
Please note that when you pay off credit card in certain time interest
does not accrue.
It does not have bad influance on your credit report when you pay off
the balance but you would do better with your score when you carry over
some balance from time to time. Why ? Because when you pay off your
balance your report shows that you never took any loan from the credit
card issuer (the balance reported by cc company is always 0) so you can
not prove that you are reliable client.
AP
Oct 30th 2002, 2:20 am
#32
Forum Regular
Joined: May 2001
Posts: 104
Re: Credit In the USA
I should add that I am the immigrant, and the credit card is the only thing that appears on my US credit history.
Oct 30th 2002, 8:56 am
#33
Here we go Pittsburgh!
Joined: Aug 2002
Location: Pittsburgh PA, USA
Posts: 581
Re: Credit In the USA
Originally posted by Ap
In article ,
[email protected] says...
> My question is: who was your source that suggested carrying a balance on
> a credit card?
> If the credit card company likes payments to be made consistently, isn't
> this done when the credit card holder pays off the entire balance on
> their card (assuming they have charges on the statement every month)?
In 99% cases when you pay offf your balance right off you are cost for
the credit card issuer. Why? because you get interest free loan.
Please note that when you pay off credit card in certain time interest
does not accrue.
It does not have bad influance on your credit report when you pay off
the balance but you would do better with your score when you carry over
some balance from time to time. Why ? Because when you pay off your
balance your report shows that you never took any loan from the credit
card issuer (the balance reported by cc company is always 0) so you can
not prove that you are reliable client.
AP
In article ,
[email protected] says...
> My question is: who was your source that suggested carrying a balance on
> a credit card?
> If the credit card company likes payments to be made consistently, isn't
> this done when the credit card holder pays off the entire balance on
> their card (assuming they have charges on the statement every month)?
In 99% cases when you pay offf your balance right off you are cost for
the credit card issuer. Why? because you get interest free loan.
Please note that when you pay off credit card in certain time interest
does not accrue.
It does not have bad influance on your credit report when you pay off
the balance but you would do better with your score when you carry over
some balance from time to time. Why ? Because when you pay off your
balance your report shows that you never took any loan from the credit
card issuer (the balance reported by cc company is always 0) so you can
not prove that you are reliable client.
AP
this is rubbish. If I use a credit card to buy $1000 worth of goods, how much does the *merchant* have to pay Visa/Mastercard? 3-6% or $30-$60 is what I believe. Therefore my transaction is making money for the cc company.Personally I pay off all my cc bills in full each month. Amex was abuot $13k over a year, giving Amex say $390 to $780 for the year. You can't tell me they're not getting their money's worth.....
Sam
