@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
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
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!!