Wise in what regard? You don't have to carry a balance to have one report. Would carrying $1-50 really be of any benefit to you? If you really want to carry a balance you can go up to 30%. With a $500 limit you won't be able to do much trying to keep your balance at 10% or less. I'd suggest deciding whether you're carrying a balance to take advantage of the intro offer or optimizing utilization versus trying to do both at once.
Minimum monthly payment isn't based on your limit. Discover should disclose how minimum payments are calculated.
DaPuertorican wrote:I would also like to know this in terms of the future once my 6-month promotional offer expires
Terms of your intro offer will state when it expires. Make sure your balance is 0 prior to the end.
DaPuertorican wrote:Side question: if the minimum payment is $35, what happens when I only charge $20 that month?
Your balance would increase by $20. Not sure how the minimum payment is relevant as it doesn't indicate what your existing balance would have been. Don't fixate on the minimum payment.