Question by Ron Paul 2012!:
Would you get a perfect or a good credit score if you pay off the minimum balance on a credit card instead of?
the full amount?
Best answer:
Answer by mpk620
The main thing that paying the minimum monthly payment instead of paying in full if you can is that you’ll end up paying interest on the remaining balance. A credit card statement now has to show how long it would take to pay your balance off and how much it would end up costing you (including the interest). Paying only the minimum payment can take years and hundreds or even thousands of dollars depending on the size of the balance.
Your best bet is to always pay your balance in full every month. Credit score is only concerned with your payment history (do you always pay on time, etc) and you don’t get bonus points for carrying balances or paying interest.
Give your answer to this question below!
Posted in 
Tags: 
