Military Significant Others and Spouse Support - MilitarySOS.com
Page 1 of 3 123 LastLast
Results 1 to 10 of 23

Thread: Credit Question

  1. FLORIDIAN
    Elizabeth's Avatar
    Elizabeth is offline
    FLORIDIAN
    Join Date
    Mar 2006
    Location
    Sigonella, Sicily
    Posts
    11,727
    #1

    Credit Question

    Advertisements
    Ok, Credit Gurus, got a question someone asked me and I'm not 100% on the answer... thought I would put it out there and get opinions.

    Let's say you have a credit card with a $5,000 balance, and you have $5,000 in cash right now. Do you drop it all on at once, or do you space payments out over months? Which looks better on your credit?





    Have you ever thought about what protects our hearts? / Just a cage of rib bones and other various parts /
    So it's fairly simple to cut right through the mess / And stop the muscle that makes us confess / And we are so fragile /
    And our cracking bones make noise / And we are just breakable, breakable, breakable girls and boys.

  2. FLORIDIAN
    Elizabeth's Avatar
    Elizabeth is offline
    FLORIDIAN
    Join Date
    Mar 2006
    Location
    Sigonella, Sicily
    Posts
    11,727
    #2





    Have you ever thought about what protects our hearts? / Just a cage of rib bones and other various parts /
    So it's fairly simple to cut right through the mess / And stop the muscle that makes us confess / And we are so fragile /
    And our cracking bones make noise / And we are just breakable, breakable, breakable girls and boys.

  3. Loving My Life As A Mom And Wife
    Mrs.Highfill's Avatar
    Mrs.Highfill is offline
    Loving My Life As A Mom And Wife
    Join Date
    Dec 2006
    Location
    Camp Lejeune
    Posts
    4,230
    Blog Entries
    3
    #3
    I'm pretty sure (not positive) that it would be better to drop a few hundred dollars a month on it each month if you are trying to build your credit.
    Since my Gastric Bypass Surgery June 1 2009



    Day of Surgery


  4. Account Closed
    carolinagirll's Avatar
    carolinagirll is offline
    Account Closed
    Join Date
    Sep 2008
    Posts
    2,823
    #4
    space out payments looks better...on time...you can pay over Minimum
  5. Account Closed
    Rizzle Mizzle's Avatar
    Rizzle Mizzle is offline
    Account Closed
    Join Date
    Jun 2008
    Posts
    6,576
    #5
    Spacing it out and making above minimum payments would look better on your credit.
  6. FLORIDIAN
    Elizabeth's Avatar
    Elizabeth is offline
    FLORIDIAN
    Join Date
    Mar 2006
    Location
    Sigonella, Sicily
    Posts
    11,727
    #6
    I wonder how fast you can do it though... I will have to do some research.
    The credit game is sort of confusing to me, and my family doesn't know loads about it either.





    Have you ever thought about what protects our hearts? / Just a cage of rib bones and other various parts /
    So it's fairly simple to cut right through the mess / And stop the muscle that makes us confess / And we are so fragile /
    And our cracking bones make noise / And we are just breakable, breakable, breakable girls and boys.

  7. Senior Member
    rcwant2be's Avatar
    rcwant2be is offline
    Senior Member
    Join Date
    Aug 2007
    Location
    Seattle
    Posts
    13,517
    Blog Entries
    4

    #7
    The amount of credit you have available also plays into your cedit score. If $5k has your card maxed or near maxed, that's not good. Honestly, probably best to pay it way down so long as you maintain your savings.



    Posted via Mobile Device
  8. FLORIDIAN
    Elizabeth's Avatar
    Elizabeth is offline
    FLORIDIAN
    Join Date
    Mar 2006
    Location
    Sigonella, Sicily
    Posts
    11,727
    #8
    Quote Originally Posted by rcwant2be View Post
    The amount of credit you have available also plays into your cedit score. If $5k has your card maxed or near maxed, that's not good. Honestly, probably best to pay it way down so long as you maintain your savings.



    Posted via Mobile Device
    See, didn't know that either really. I thought it was better to take care of all of the debt if you had the cash, vs holding onto your cash and having debt as well.





    Have you ever thought about what protects our hearts? / Just a cage of rib bones and other various parts /
    So it's fairly simple to cut right through the mess / And stop the muscle that makes us confess / And we are so fragile /
    And our cracking bones make noise / And we are just breakable, breakable, breakable girls and boys.

  9. Account Closed
    Trey's Avatar
    Trey is offline
    Account Closed
    Join Date
    Sep 2005
    Posts
    23,642
    #9
    Quote Originally Posted by rcwant2be View Post
    The amount of credit you have available also plays into your cedit score. If $5k has your card maxed or near maxed, that's not good. Honestly, probably best to pay it way down so long as you maintain your savings.



    Posted via Mobile Device
    I agree. You will also end up paying interest as well. I would suggest paying it all off, and then if you want to build credit, use that card for say groceries each month, and immediately pay it off with the paycheck each month, that way it builds credit, you aren't paying any interest, and it's a good way to build rewards too if it's a rewards card.
  10. aka Mrs Gibberish
    =Mrs.AiNokeA='s Avatar
    =Mrs.AiNokeA= is offline
    aka Mrs Gibberish
    Join Date
    Jan 2006
    Posts
    28,491
    #10
    Quote Originally Posted by Rileysmom View Post
    I agree. You will also end up paying interest as well. I would suggest paying it all off, and then if you want to build credit, use that card for say groceries each month, and immediately pay it off with the paycheck each month, that way it builds credit, you aren't paying any interest, and it's a good way to build rewards too if it's a rewards card.
    That's what DH and I do with our credit card every month. We use it for groceries and always pay it off at the end of the month when it's due.
Page 1 of 3 123 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •