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Regular Contributor
ineedcreditbad
Posts: 171
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
confus3d
Posts: 16
Registered: ‎10-25-2008
0

Re: Pay in full or minimum paymeny

I believe everyone will go with the PIF.
Epic Contributor
Creditaddict
Posts: 22,116
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- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
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
66 Cards and Counting :smileytongue:
Valued Contributor
stef37
Posts: 2,205
Registered: ‎12-06-2007

Re: Pay in full or minimum paymeny

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

Re: Pay in full or minimum paymeny

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

Starting Score: TU 723, EQ 708
Current Score: TU 796, EQ 743
Goal Score: TU 800, EQ 800


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Starting Score: 708
Current Score: 743
Goal Score: 800


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Regular Contributor
ineedcreditbad
Posts: 171
Registered: ‎08-18-2007
0

Re: Pay in full or minimum paymeny

Thanks you guys are helpful as always.
Valued Contributor
cobra19
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.
New York Yankees - 2009 World Series Champions. 27... and counting.....
Epic Contributor
Creditaddict
Posts: 22,116
Registered: ‎10-23-2007

Re: Pay in full or minimum paymeny

report but not carry the balance!
Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
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
66 Cards and Counting :smileytongue:
Established Contributor
cartercorp
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
Miner
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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