someone told me you dont get any credit raise if you pay it in full.
2007-11-05 08:59:52 · 10 answers · asked by Me 6 in Business & Finance ➔ Credit
It will depend on your current limit and how much you are spending.
If your just starting off your credit they are not going to give you inscreases right away. Also paying off in full is better it will show them you can do it. When they see this they will tempt you with some good interest offers and inscrease your limit to try to get you to spend more so you do not pay them off in full because this is how they will make thier money.
So it is better to pay it off in full. The amount you pay may control you getting a credit limit increase, but paying off in full is not going to lower your chances of the limit increasing.
2007-11-05 09:10:17 · answer #1 · answered by Matt 3 · 1⤊ 0⤋
I just got my credit report back. I've had a credit card for over 2 years. I am going to be 20 soon. I have nothing else, credit wise, on my name. I've been paying off the bills in full. And I still have absolutely NO credit report... It says "not enough information to receive a credit statement". So then I started paying it off a little more than the minimum and then I started slowly seeing my credit getting better and better..
So personally that is what I recommend. I have a capital one credit card.
2007-11-05 18:42:36 · answer #2 · answered by Anna Q 1 · 0⤊ 0⤋
If you cannot pay it off in its entirety it is best to pay the most you can especially over the minimum and develop a history of this, as it shows you are responsible with your credit. As a side note from reading the responses there is no rating of 950 in credit as the rating system does not go up that high
2007-11-05 11:26:34 · answer #3 · answered by Pengy 7 · 0⤊ 0⤋
Always pay the bill in full each month. You pay no interest. The minimum payment is for suckers who don't know better. Imagine charging a $2000 plasma TV, paying it off in 3 years, and paying $1000 more in interest. What fools!
2007-11-05 13:46:11 · answer #4 · answered by Steve R 6 · 0⤊ 0⤋
If you pay just the minimum, a $20 item will end up costing you $30 or more by the time you pay all the interest.
I pay off the balance in full each month on my cards, and they keep increasing the limits - they're up to ridiculous amounts!
2007-11-05 09:04:59 · answer #5 · answered by Judy 7 · 2⤊ 0⤋
Check with your credit card company. Some cards only report if you make monthly payments and carry a balance.
I usually charge something, say $100, and make 3 monthly payments and then on the 4th month, pay it off.
My credit score is 765...so I guess it works good the way I am doing things!
2007-11-05 09:07:32 · answer #6 · answered by fruitie7 4 · 1⤊ 0⤋
It's always better to pay it in full. I get raises in my credit limit all the time (and without asking), and I always pay my balance in full.
2007-11-05 09:04:24 · answer #7 · answered by Kathryn 6 · 2⤊ 0⤋
Pay it in full. I have never ran a balance on any of my cards and I use them every month. My credit score is over 960!
2007-11-05 09:42:34 · answer #8 · answered by J M 4 · 0⤊ 1⤋
I always paid my balances in full and by the time I finished graduate school my credit limit was over half my yearly income (>$10K), so "someone" was obviously wrong.
2007-11-05 09:30:00 · answer #9 · answered by Brian A 7 · 0⤊ 0⤋
Always pay the full amount if you can otherwise you'll be paying as much or more in interst
2007-11-05 09:03:49 · answer #10 · answered by flower wanda 3 · 1⤊ 0⤋