Charging more than 30% of available credit

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12 posts
Green Member
Green Member
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Joined: Thu Jun 30, 2011 11:04 pm
Location: Texas

Postby NuPlastic » Fri Jul 15, 2011 1:32 pm

Awesome, I found a thread to ask this question, yay! I have finally paired down all my balance's to about 15-20 percent, between 5 CC's. Before this site I would max out all my cards and pay only the min. balance every month...I know. I chalk that up to no "Money Education" (which I feel is the schools job to do, not parents).. I did not know I was hurting myself. But, here I am now. All my cards are down below 30 %, but I still have a ways to go. In a nut shell, WHAT IS THE BEST WAY TO CARRY A BALANCE IF ONE HAS NO CHOICE BUT TO CARRY A BALANCE? Do I pay the min balance plus 100 dollars more, would 10 dollars suffice? how about 20? How can you carry a balance and have it benefit, not hurt? and How many saw harry potter yesterday...haha sorry I ran out of questions and was on a role.

Side bar because of you, all. This site...My fico has risen from 650-720 in about 5 Months. Thanks all.
Current Cards: American Express: Green Bank of America: Platinum Plus Visa Discover: More Capital One: No Hassle Rewards, Platinum Master Cards
Primary Everyday Card: Platinum Plus Visa
Primary Travel Card: Amex: Green

Centurion Member
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Joined: Tue Jul 05, 2011 12:28 pm
Location: New York

Postby DavidNY » Fri Jul 15, 2011 3:06 pm

You could pay off your highest APR card and use that one card for your expenses while continuing to pay that card off every month so you're not paying any interest on it.

Then you can pay off your other cards, paying the minimum on all but your second-highest APR card, which should be paid off next.

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