Quote:
|
Originally Posted by Jimellow
Generally I pay down to $100, and then every month pay down until it is $20 less.. $80, $60, etc. When it gets to $20 I charge up to $100 and start the process over again..
|
Is there any reason why you want to carry a balance on the card? You can still build a credit history without carrying a balance.
It seems that your expenses match your ability to pay. So instead of carrying a $100 balance on your card, how about aiming to have $100 in savings. When you reach $100, spend it down to $20 and start saving $20 more a month.
Exactly the same as what you're doing now, but without the interest (which at say 15% of an average balance of $50, works out to be about $7.50 a year. Thats a movie ticket!)