Credit card ?

[shmike]

Originally Posted by OneSickPsycho

Stop paying off your cards... If you carry a balance every month, as long as you remain current on it and avoid finance charges, it helps your credit. I'll pay mine down to $1 sometimes when I get a bonus or something, but otherwise there's always a balance. I use my cards for everything and monitor my rewards to max them between two cards. I should bring in close to $1500 this year in cash back.

Please clarify for the young bucks.

I think I get what you are trying to say, but the advice to "stop paying off your cards" is generally bad.

Unless, you have an introductory 0% rate, if you are carrying a balance, then you are paying financing charges.

If you are jumping from card to card to keep getting those 0% rates while carrying a balance, then you are in debt. Telling yourself you are "building credit" is making your problem worse.