2006-08-18 04:19:57 · 37 answers · asked by theophilus 5 in Business & Finance ➔ Credit
never
2006-08-18 04:23:14 · answer #1 · answered by jxt299 7 · 0⤊ 0⤋
no i dont, in fact its okay to have multiple lines of credit open as long as you dont use them all! STay less then 50% on any credit card and dont go to high with it either, no more then you could pay off in a year. High interest rates will eat you alive and youll spend the rest of your life paying them off if you just pay the minium balance due, to be honest youll pay well over 3 times what you charged. Plus if you max out your cards you will have a hard time getting other things on credit like a car or a house.
I recommend having 1 credit car- 2 max. For emergancies and to establish some credit. But that should be about anyone should have and they shouldnt be maxed out- thats how people end up bankrupt.
2006-08-18 04:26:00 · answer #2 · answered by cats4ever2k1 5 · 0⤊ 0⤋
No. Fools do that. I am not a fool. Credit card interest rates are very high. There is nothing I need. I can wait for what I want. Everyone should have savings for rainy days. If you have savings and an outstanding credit balance you should pay it off to avoid the interest. Then change your life style. Libraries are free. So are movies in the park and walking.
2006-08-18 04:27:13 · answer #3 · answered by jude2918 3 · 0⤊ 0⤋
If you have the money to pay the bill when it arrives, and if your credit cards rewards you with rebates for purchases charged to the card, then go ahead max out the card and get some money back. Otherwise, DO NOT. You will just bury yourself in perpetual debt leading to the road to bankruptcy.
2006-08-18 04:28:43 · answer #4 · answered by cherox 3 · 0⤊ 0⤋
The best thing to do with your credit cards is to spend ones a month and paid it back as soon as possible. If not you will never finish paying your depth and you will spend more money on interest. And by doing that your credit scores will go up.
Credit cards are very vicious when you don't have to much money, be careful not to spend money that you don't have.
2006-08-18 04:29:18 · answer #5 · answered by Arzuita 3 · 0⤊ 0⤋
it would only be good to max out a credit card if you have the money to pay the bills
2006-08-18 04:25:10 · answer #6 · answered by c3345 3 · 1⤊ 0⤋
No, and if you do you are setting yourself up for failure. if you do carry a balance you need to keep it below 50% below 35% better yet!. if you carry a maxed out credit card it actually looks worse then a late payment.
2006-08-18 17:19:40 · answer #7 · answered by sarah a 2 · 0⤊ 0⤋
I used to on occasion years ago. However, legislation in recent years has allowed the credit card companies to charge much higher rates and bump your APR up for just about any reason. They pull you in with 1.9% promotions, encourage you to run up a balance, then hammer you with a 28.99% rate, simply saying they periodically check your credit score. You could have a perfect payment record for years with them and it's irrelevant these days.
2006-08-18 04:28:08 · answer #8 · answered by Joe D 6 · 0⤊ 0⤋
credit card... max out sleeping hours
2006-08-18 04:24:53 · answer #9 · answered by matty 2 · 0⤊ 0⤋
It is recommended to keep your spending under 50% of your credit limit. Anything above that could potentially affect your credit rating.
2006-08-18 04:24:00 · answer #10 · answered by ThePrez98 2 · 0⤊ 0⤋
i never put more on my credit card than i can pay off at the end of the month.
2006-08-18 04:26:23 · answer #11 · answered by Anonymous · 1⤊ 0⤋