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CC Bill came: Pay it all or no?

Discussion in 'Credit Talk' started by Shirley, Sep 1, 2001.

  1. Sep 1, 2001 #1
    Shirley

    Shirley Well-Known Member

    Cap 1 was nice enough to give me a Kmart Mastercard with a $200 non Kmart purchases limit in July.

    I used it to the tune of about $160 and the bill came today.

    Should I pay it off in full or in a couple of payments to show I can pay on time in installments?

    Thanks for any advice.
     
  3. Sep 1, 2001 #2
    Nave

    Nave Well-Known Member

    Tough call, some say alternate between leaving a balance (makes them happy cause they make some cash), and paying in full (makes you happy and shows you can pay $200 so maybe they will raise your limit to get you to keep a balance). I usually pay 95% or so to leave a small balance but pay a good chunk off every month...if you can, set it up to pay online you can pay off the $200 more than once a month...that's what I did with Cap1, then I called and explained that I can easily make the payments but "I hate paying off 3 or more times a month can they raise my limit?" They did.

    Whatever you do PAY ON TIME!, and pay more than the minimum if you can. That is the biggest plus to get things going in your favor. Online payments also help you to not miss your payment due date.

    -Peace, Dave
     
  4. Sep 2, 2001 #3
    Alex

    Alex Well-Known Member

    I agree, leave a small balance on it while you are building your payment history, I used to have their card and I always paid the balance in full at first and then when it came to giving me a credit increase they either denied it or gave me a very small increase, then I started leaving a balance and gave them a chance to make a little more money on interest and the credit increases started to be more generous.

    Good luck!

    Alex

    ---------------
    Free Credit Repair Help:
    http://www.Creditinsiders.com
     
  5. Sep 2, 2001 #4
    NanaC

    NanaC Well-Known Member

    I'm about to pay my credit cards (and hubby's) and I'm gonna leave 15% on them all...cuz I like the number 15..no just kidding...but it might help you to consider... :)
     
  6. Sep 2, 2001 #5
    sam

    sam Well-Known Member

    A rule to live by:

    Pay your CC bills online twice a month (synced to your paychecks).

    you'll never ever be late again :)
     
  7. Sep 3, 2001 #6
    lbrown59

    lbrown59 Well-Known Member

    don't work to good when folks don't have a P>C>
     
  8. Sep 3, 2001 #7
    lbrown59

    lbrown59 Well-Known Member

    I mail my payment the same day they add the Inst.to the account.I don't wait on receiving the bill first.

    Advantages
    You have lots more time to allow the payment to get there

    You are always up to date on account activity

    It will work for people who don't own a computer

    You don't have to do it twice a month
     

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