Should You Pay Off Your Credit Card in Full?

You may have been told that paying off your credit card in full is a good thing to do, or maybe you were told that you shouldn’t pay it off in full because having a balance helps your credit. The truth is neither is right or wrong, depending on your situation.

Let’s say that you have the cash to pay off your credit cards yet you have a great rate of 1.9% on the card. In this case the question would be which do you need more, the cash in hand or the credit for later? Either may work for some, but there may be others that could use the cash in hand for daily or monthly expenses, such as your car payment, mortgage or even food. That is a very low rate and you’re not paying much on interest, but there’s still a question of do you need to?

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How to Pay Off Credit Card Debt

Credit cards can make or break our credit, and with the way the economy is, it can cause piles of debt and a ton of stress. Was it worth it? Probably not. Want to learn how to pay off credit card debt and get rid of the headaches? Follow along as we do our best to show [...]

Paying off your card is usually the best option for most because it gets rid of the debt and helps boost your credit, giving you a higher credit score. Obviously this helps you obtain more credit easier if you keep this card paid off, if you need it down the road. That’s what these cards should be used for, not daily shopping habits or to kill boredom.

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Smart Ways College Students Can Use Credit Cards

Building credit can be a scary thing, especially for young students in college taking their first steps out of the safety nets of living at home. But the truth is it doesn’t have to be a scary thing, it’s not even really a hard thing to do. There certainly is, however, a right way to [...]

If you have a high interest rate on your card(s), and you have the cash, then paying off that debt is absolutely the best thing to do. The fact is – you are giving away money by keeping your debt high on these higher interest rates. You’re not gaining anything by doing this, unless you believe these billion dollar financial institutions need your money?

So it comes down to the following:

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What is a Balance Transfer

The term credit card balance transfer comes up a lot these days, especially with new credit card offers, but how do they work and are they good for your credit? Should you take advantage of a credit card balance transfer? What is a Balance Transfer A balance transfer is simply the process of moving a [...]

High Interest Rate? Pay it off, or at least pay off as much as you can as quickly as possible.

Lower Interest Rate? Pay off what you can, when you can.

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Credit Cards That Help Build Credit

Many people struggle with credit, but this is fairly normal in this day and age, especially when you consider the economic issues of today, as well as the lack of financial education available to children and teenagers. With these things considered, there are still ways to build or fix your credit with credit cards. There [...]

Notice the underlying tone of each suggestion? “Pay off what you can, when you can. As quickly as possible.” But having a lower interest rate does help as you won’t be giving away as much money to these banks.

Having the cash in hand is always useful, but if that cash is just going towards having more money to spend on what you feel like, you’re already losing the finance game. Don’t do it. Be responsible and you’ll have more financial options down the road.

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Getting Credit Cards With Bad Credit

Getting Credit Cards With Bad Credit Getting a new credit card with bad credit can be extremely difficult, but not always impossible. There are different types of credit card offers out there for different types of “bad credit,” or poor credit. First, you need to ask yourself why you want a new credit card. A [...]