myFICO cc forum has changed my thinking

[Swapmeet]

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@LisaJ wrote:
Wow...I can so relate!

As a bonus, because of this forum, I have received countless CLIs, got CSP, Barclays, Ink, Discover, and (OMG!!!!) Amex! I l.o.v.e this forum. For real!!!

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Me too. I had two secured cards for 300 and 250...lol. It's not like I have a ridiculous amount now, but I am only really coveting one more card, which I will be apping for in a few short weeks.

[annebythesea]

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@gmason wrote:

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@NonSufficientFunds wrote:

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In the old days, I thought that carrying large balances on credit cards was a GOOD THING !! 

I reasoned that because the creditors made more money on high balances, it would contribute to a higher credit rating.  Now I understand that my flawed logic was actually hurting me.

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+1 on the above. I wonder if it's a bit of denial and rationalization. I thought that the creditors must love the interest, but what I was doing was running up a balance and then not using the card much because I was maxed out. The creditors must make more money on swipe fees with lots of transactions, and then have low risk for customers who user their cards a lot but don't carry a balance.

Agreed. This is exactly what I was doing as well. So glad I found this forum!