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Pay in full or minimum paymeny

Regular Contributor

Pay in full or minimum paymeny

Guys,

 

Do you think its worth paying off your credit card in full every month or just pay the minimum only, based on the current economic situation.

 

Ed

 

Message 1 of 16
15 REPLIES
Member

Re: Pay in full or minimum paymeny

I believe everyone will go with the PIF.
Message 2 of 16
Epic Contributor

Re: Pay in full or minimum paymeny

if you are capable of paying the full balance, Why would you want to carry the balance and pay interest?
Message 3 of 16
Valued Contributor

Re: Pay in full or minimum paymeny

PIF, especially right now.
Message 4 of 16
Established Contributor

Re: Pay in full or minimum paymeny

Survey says .......................... (ping) PIF!
Message 5 of 16
Regular Contributor

Re: Pay in full or minimum paymeny

Thanks you guys are helpful as always.
Message 6 of 16
Valued Contributor

Re: Pay in full or minimum paymeny

IMO, it's better to let a couple of cards report a small balance ( < 3% ) every month.
New York Yankees - 2009 World Series Champions. 27... and counting.....
Message 7 of 16
Epic Contributor

Re: Pay in full or minimum paymeny

report but not carry the balance!
Message 8 of 16
Established Contributor

Re: Pay in full or minimum paymeny


cobra19 wrote:
IMO, it's better to let a couple of cards report a small balance ( < 3% ) every month.

 

Cobra

I still like thoes scores and ive read time and time again about carring a small balance for FICO Scoring reasons.

Message 9 of 16
Frequent Contributor

Re: Pay in full or minimum paymeny

You can pay in full and still have a balance reported.

 

I vote for PIF.  Paying interest is stupid if you can afford to pay it off.

 

 

9/2017 FICO8: EQ:585, TU:549, EX:580 | No opened accounts | 1 unpaid CO, 1 paid CO + related Col | several lates 2.5+ yrs ago
Current FICO8: EQ:703, TU:671, EX:671 | CC Util 2.5% | 2 paid CO + 1 related Col (deleted on EQ) | 3x 30 day lates 3-6yrs ago
AAoA: 10 to 11 years; Opened Acc Only: 6 months
Credit Length: 20 years
INQ (Eq/Tu/Ex): 2 / 4 (4 for auto) / 6 (5 for auto)
In 7 months, all serious derogatories fall off.
Message 10 of 16