Do you pay your Credit Cards off in full each month?

Question

Most of my friends charge up their Visa and Mastercard to the limit each and every month. They view their credit limit the same as money in the bank. For example if their Mastercard had a limit of $9000 they would always try to keep the balance at just a few dollars below that amount. They are paying 18% interest on this balance but they do not care because that is just the cost of living in today's society in their mind.

Do you have a credit card balance that you are paying interest on?

Answer 1

I have three cards and pay all of them off in full every month.

I have not paid interest on any credit card for over 3-years.

Answer 2

I have never had a balance on my credit card. If I use it I pay it when it comes in. I am 39 years old. Running up debt is not a good idea. Your friends need to sit down and think about what they are really paying for things when the interest is calculated. It is not a very smart thing to do. I hope that you do not do the same.

Answer 3

I always pay it in full.

I never get close to the limit though either. If my limit is say $1000...i try to keep my spending under $300. Then pay the $300 or so in full each month...there is no way I'm going to pay interest to the credit card companies if I can avoid it.

Answer 4

I ALWAYS pay the full balance. We put EVERYTHING on our card, including our other bills, because we kinda use it as a way to track our spending, and we get cash rewards. But we never ever carry a balance. Because if you look at how much you end up paying in interest it is crazy. It is like going to the store and you pick something out and tell the cashier to ring it up twice cuz you really want to pay double for it. If you don't have the money to pay for it, DO NOT BUY IT!!!! That's the way I see it.

Answer 5

If you can pay in full each month to avoid the interest.