I only ask because I have heard that paying it completely off doesn’t help my credit score (which im trying to build). I never overspend and always have money to pay it off.

Should I roll over a small amount like 5$ every month to help build the score?

credit card help

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  hispanna · September 11, 2010 at 2:22 am

  Caffeinated Content – Members-Only Content for WordPress

  I suggest you read one of Dave Ramsey’s Book…like Financial Peace or My Total Money Makeover.

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  sneezecoughwheeze · September 11, 2010 at 8:16 pm

  Caffeinated Content

  No!

  35% — punctuality of payment in the past (only includes payments later than 30 days past due)

  30% — the amount of debt, expressed as the ratio of current revolving debt (credit card balances, etc.) to total available revolving credit (credit limits)

  15% — length of credit history

  10% — types of credit used (installment, revolving, consumer finance)

  10% — recent search for credit and/or amount of credit obtained recently

  So as you can see the biggest factor of your FICO score comes from paying on time. I’m a big believer that ALL debt is bad, but some debt is not as bad as others.

  Once you get a mortgage or car payment, then you’ll have debt that’s not in an unsecured account.

  PAY IT ON TIME!

  Hope this helps! And I have to agree with the person above me. listen to Dave Ramsey’s radio show (or podcast, it doesn’t have commercials) and you’re view on debt will change.

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  pamela L · September 13, 2010 at 11:33 pm

  Kansieo.com

  If you have the money, you are correct by paying it off every month. As long as you use it and pay it off, you are building up your credit. You could allow an amount like $5 roll over to accrue interest, but it makes no sense to.

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  Triumph - I keed · September 17, 2010 at 4:49 am

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  No. Pay at least 10 percent of the minimum balance over $100. It takes six months to a year of doing so for that to take effect.

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  Stanley · September 19, 2010 at 6:18 pm

  Caffeinated Content – Members-Only Content for WordPress

  Pay it off every month if you can

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  Blabbermouthknowitall · September 22, 2010 at 5:07 am

  Kansieo.com

  OH NO! lol, never do that. Your score gets lower. What they mean when they tell you to build your credit score is that when you get an e-statement or statement through mail, there is always a due date, just make sure you pay “Full-balance” before the due date and that’s how you build credit scores.
  Also make sure you use no more than 20% of your available credit.

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  heybulldog · September 22, 2010 at 2:49 pm

  Create a video blog…instantly.

  Pay off the credit card and cancel it. Don’t obsess with the I love debt score. All it gets you is debt.

  Look thru these forums for a couple of days and you will see all the people that played the credit card game and lost.

  The credit card industry is a billion dollar a yr industry. They are not gonna lose at the game.

  They brainwash people into thinking they need to have credit cards and “build credit”. Not true.

  If you pay as you go. Live on less than you make and you will have money.

  They only thing you may need to borrow money for is a home. You can get a mortgage with a O score from not borrowing money. It’s called manual underwriting. It’s the way it was done before the I love debt score. It’s not a sub prime loan. You can get the same low interest rates.

  Of course the bankers and credit card people are gonna tell you different (and give me lots of thumbs down).

  Debt is Dumb!
  Debt free is the way to be!