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Regular Contributor
Posts: 181
Registered: ‎08-18-2007
0

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

 

Member
Posts: 16
Registered: ‎10-25-2008
0

Re: Pay in full or minimum paymeny

I believe everyone will go with the PIF.
Epic Contributor
Posts: 22,721
Registered: ‎10-23-2007

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?
Fico Scores: EQ- 662 DCU., TU 704 Best Buy, EX 700 Chase (1/5/15)
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Valued Contributor
Posts: 2,205
Registered: ‎12-06-2007

Re: Pay in full or minimum paymeny

PIF, especially right now.
Established Contributor
Posts: 683
Registered: ‎04-05-2008

Re: Pay in full or minimum paymeny

Survey says .......................... (ping) PIF!

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Regular Contributor
Posts: 181
Registered: ‎08-18-2007
0

Re: Pay in full or minimum paymeny

Thanks you guys are helpful as always.
Valued Contributor
Posts: 1,424
Registered: ‎07-24-2007
0

Re: Pay in full or minimum paymeny

IMO, it's better to let a couple of cards report a small balance ( < 3% ) every month.
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Epic Contributor
Posts: 22,721
Registered: ‎10-23-2007

Re: Pay in full or minimum paymeny

report but not carry the balance!
Fico Scores: EQ- 662 DCU., TU 704 Best Buy, EX 700 Chase (1/5/15)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
67 Cards and Counting :smileytongue:
Established Contributor
Posts: 851
Registered: ‎07-01-2008
0

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.

Regular Contributor
Posts: 221
Registered: ‎09-18-2007

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.

 

 

Oct 2008 FICO: EQ:706 ,EX:708, TU:720
Sept 2007 FICO: EQ:673, EX:683, TU:676
July 2006 FICO: EQ:627, EX:609, TU:645

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