A Quote by Katie Melua
I'm the worst customer for a credit card company because I always pay my balance off every month.
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But credit card debt is unsecured debt, which means if you get in trouble and cannot pay off your credit card, you can discharge it in bankruptcy. What are they going do to you? If you're in a financial position to just methodically pay off both credit card and student loans, pay them all.
If you pay your credit card off every month, get a rewards card. One that gives you airline miles or that will give you 1 percent cash back at least on every purchase.
If you decide you need a secured card, use it to charge small items every month, then pay the balance off in full. If your credit score improves, and the bank doesn't offer to upgrade your card within 12 to 18 months, give them a call. If they refuse, try another lender.
I get so frustrated when people tell me it's unrealistic to create an eight-month emergency savings fund, or have money saved for a home down payment, or pay off their $5,000 credit card balance.
Absolutely pay off credit card debt. If you're not getting a match in your 401(k) and you've got credit card debt, you've got to get yourself out of credit card debt. When you get out of credit card debt, your credit score goes up and interest starts to go down.
I carry cash around with me all the time as I like buying dancers I'm working with snacks and drinks, but I also use my Amex card and a Coutts Visa card, which I always pay off in full every month. I hate the idea of being in debt.
If you do not have at least an eight-month emergency fund, and you think there's a probability you could loose your job - and it's not just losing your job; you could be in a car accident, get sick - continue to pay the minimum on your credit card every month. Everything beyond that needs to go to establish an emergency fund. And if you have an emergency fund saved, then fund your retirement account before paying down credit card debt.
I have always advocated doing everything possible to pay off credit card balances; it's good financial management and the ticket to a strong FICO credit score.
Maybe you'll take the cash out. So a credit card company or a bank that goes into the business of saying we're going to be the broker, we're going to sell you a mortgage that you're going to be able to pay off, we're going to help you reduce your credit card debt, we're going to help you save for retirement, we're going to put you into mutual funds that have low fees rather than high fees.
Absolutely pay off your credit card debt, because a child can always get a loan to go to school, possibly a scholarship, a grant.
Credit card companies are jacking up interest rates, lowering credit limits, and closing accounts - and people who have made timely payments are not exempt. So even if you pay off your balance - and that's tough when interest rates are insanely high - there's a good chance your credit limit will be slashed, and that will hurt your FICO score.
My credit card company says I have an outstanding balance. I'm flattered.
Your goal should be to pay off your credit card bills in full at the end of each month and set aside money toward your emergency savings.
I use debit cards for everyday purchases, as I don't believe in credit cards. But this has caused problems, especially with American touring, because I refuse to have a credit card - and in America you can't pay for anything on a debit card.
Those carrying a credit card balance should scale back to making the minimum payment each month so they have more money to put into savings.
If you're in poverty and all you have is a debit card or a prepaid card or you pay in cash, it does not report to a credit bureau. If it doesn't report to a credit bureau, it cannot create a credit score for yourself.
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