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Regular Contributor
stpn2me
Posts: 234
Registered: ‎07-04-2007
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Re: Do you carry balances on your credit cards?

I am about to carry a small balance on my MC. Probably $2000 on a $10,000 CL card. This will be for a vacation that is well deserved. I will try to keep the balance under 20%...I dont think balances hurt, as long as you dont default....or have lates....
 
Stpn2me
TU - 625 EQ - 644 EX - 672 as of 5 June 13
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haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
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Re: Do you carry balances on your credit cards?



stpn2me wrote:
I am about to carry a small balance on my MC. Probably $2000 on a $10,000 CL card. This will be for a vacation that is well deserved. I will try to keep the balance under 20%...I dont think balances hurt, as long as you dont default....or have lates....
Stpn2me



Not taking a quick trip back to Afghanistan, I hope?
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
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fail2deliver
Posts: 172
Registered: ‎12-12-2007
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Re: Do you carry balances on your credit cards?



stpn2me wrote:
I am about to carry a small balance on my MC. Probably $2000 on a $10,000 CL card. This will be for a vacation that is well deserved. I will try to keep the balance under 20%...I dont think balances hurt, as long as you dont default....or have lates....
Stpn2me





Well, I think balances hurt if you carry them long enough to pay tons of interest on them. Sometimes people pay more then $2000 over years for some $1000 item they bought. I'd rather take 2 vacations rather then take 1 and pay for it for 5 years. If you pay em off as fast as you can, then you don't get hit too badly w/ the rates. Carrying balances for years is essentially cheating yourself :smileysad:
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Brammy
Posts: 5,436
Registered: ‎03-10-2007
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Re: Do you carry balances on your credit cards?



fail2deliver wrote:



Well, I think balances hurt if you carry them long enough to pay tons of interest on them. Sometimes people pay more then $2000 over years for some $1000 item they bought. I'd rather take 2 vacations rather then take 1 and pay for it for 5 years. If you pay em off as fast as you can, then you don't get hit too badly w/ the rates. Carrying balances for years is essentially cheating yourself :smileysad:

 
That sentiment I agree with.  sometimes it is necessary or prudent for what ever reason to carry a balance....ohoh, let me back up...right now I have 1.99% for life so in order to pay one years interest I would haveto carry it for 7 years...lol!!


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