@Anonymous wrote:"C puts most of his expenses one his credit card and makes the minimum payment every month....
They both have excellent credit and exhibit good debt management habits,"
I don't know anyone that would consider C to be exhibiting good debt management habits.... Perhaps you should carefully reread what you have written and come up with a better illustration of your point.
When you're making installment loan payments, unless you're paying above the designated monthly amount, you are paying the minimum too. I'd say that's pretty good.
@HiLine wrote:
@Anonymous wrote:"C puts most of his expenses one his credit card and makes the minimum payment every month....
They both have excellent credit and exhibit good debt management habits,"
I don't know anyone that would consider C to be exhibiting good debt management habits.... Perhaps you should carefully reread what you have written and come up with a better illustration of your point.
When you're making installment loan payments, unless you're paying above the designated monthly amount, you are paying the minimum too. I'd say that's pretty good.
Especially useful when establishing relationship with new card/bank, and you have extended period of 0% apr on purchases (though I do make more than the min payment). 