@SSA_2013 wrote:
@GatorGuy wrote:
@ryanbush wrote:
Why would you think it is beneficial to payoff your credit card immediatly? that's just bad advice... Unless you are planning on apping for something in the next 30-45 days; and need the drop in utilization to help your score. It is more beneficial to let that money sit in an account that is earning interest, and pay your statement balance on the due date in order to maximize your interest earnings.
This.
This is good advice too but can be hurtful in some instances. If you have all of your accounts post with high utilization it might spook some creditors month after month.
that is why you keep your spending down to 2-3 cards and have high credit limits. I normally only use 3 cards and my monthly spending is less then 10-20% of my overall limits...... this is where having high credit limits really helps.
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