General Chit-Chat Thread: A New Beginning

[Chris]

See, I used to pay my cards like just as soon as i got money

there's no reason not to really, I just do every Monday to make it part of my routine

 

[Chris]

but i had someone tell me it helps your credit score if you dont make a bunch of payments and just make one when it's due

that's not true

 

[Butters]

They upgraded my best buy card to some visa thing that had way better rewards but when I looked into it, it was only redeemable in best buy rewards still lol and I never buy from them unless I have a specific usually expensive electronic

That's what I have and you don't get any points if you use 0% so I almost never get points. had it for 10 years.

 

[Butters]

that's not true

I didn't think it was but he seemed smart so i was like huh well maybe.

 

[Chris]

You pay monthly and you're mostly fine, if your balance happens to be high bc it's right before you pay when the score is ran you might get knocked a few points for your revolving ratio being higher but it doesn't really matter .

 

[Butters]

like i would have my netflix or whatever on my card and as soon as i got an alert saying it was charged. i'd go in and make a payment for that same amount.

 

[Chris]

There's a lot of stupid things about credit bc it's a fake system but that also makes people make up their own things lol

 

[Butters]

now i just hold out until i get my minimum balance or whatever and then just pay a ton or pay it off depending

 

[Chris]

The thing about paying credit cards is it never hurts bc your total available credit is the same and it just measures how much you've used as a ratio to that

 

[Chris]

If you have a one time loan like my student loans for example, you can take a hit when paying in full bc you'll lose out on the amount of loan as available credit bc it's just done

 

[Butters]

Yeah, I was basically told I should get a bunch of credit cards and just have a 0 or super low balance on them.

 

[Chris]

That doesn't really hurt yeah

 

[Butters]

because your debt to available credit ratio is good.

 

[Butters]

instead of having like one card thats maxed out

 

[Chris]

Your ratio of used credit will be super low but to an extent that doesn't matter, I'm pretty good on mine with only 2 cards I don't think anymore would help