Quote:
Originally Posted by ea1776
If you have $500 in credit card debt, and your maximum is $10,000...
Which option is best for your credit score:
a) Reduce your maximum to <x> (specify x).
b) Do nothing. Keep max and keep paying it off asap.
c) Buy things with the credit card and pay them off before interest accumulates.
d) none of the above
e) some combo of the above
f) other
Thanks!
ea1776
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f) Pay off your balance in full each and every month and never accumulate interest expenses on your card.
If there's already debts on the card, then pay by "debit card" or cash until you've paid off the cc in full.
Do NOT add new debts to the credit card while trying to pay down old debts -- it's a vicious circle that you cannot win.