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Paying off credit cards with good ratings?

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    Paying off credit cards with good ratings?

    Whats the best way of paying off credit with out getting into dept but generating a good credit rating?

    Trim your expenses, look for ways to bring in more income, pay the balances down as quickly as you can.


      Why do you want to "build your credit?" What is the purpose? The only reason why someone would build up there credit is so that they can borrow more money.

      So you have to borrow money. Why?
      To build up credit? Why?
      To borrow more money? Why?
      To build up credit?

      It is a never-ending cycle. So it is important to understand what it is that you are trying to do.

      With that said, please understand that that paying on debt and paying interest will NOT improve your credit score. There are five factors that determine your credit score:

      Total Debt: how much debt you have in comparison to available credit.
      Payment History: are you paying on time, or are you paying late?
      Length of History: how long of a positive history do you have?
      New Credit: applications for new credit. The more, the worst.
      Types of Credit: the more 'experience' you have with different types of debt, the better.

      You could literally charge expenses to a credit card and pay them off every month (to avoid interest), and over time you will build a decent credit score. Never carry a balance, never pay interest, and never pay late. You will be golden.

      Trim expenses, live on a balanced budget, and do not go further into debt. Spend less than you make! That is how you pay off debt.
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