To pay or not to pay?

Discussion in 'Credit Talk' started by mother2, Feb 19, 2001.

  1. mother2

    mother2 Well-Known Member

    I have a Providian account with a $500 limit. My balance is $450 and I now have the money to pay off my account and return my balance to $0.

    My dumb question is how would I benefit from paying off this card. I would like to use the money for something else and just pay 1/2 now and the other 1/2 later. My kids could really use some new clothes.

    What would you do?
  2. Carrot

    Carrot Guest

    I'd pay the Providian down to $200, put aside $50, and use the rest to get the kid's clothes.
  3. sam

    sam Well-Known Member

    RE: well actually.

    in your best interest. (literally).

    Pay the card off online, it takes a day, then charge it back up.

    Excercising your ability to pay large amounts impresses the creditors, and are a large reason why they give you upgrades.

    With my cards, i charge EVERYTHING i can (except rent) to my card, and pay it off. I pay nearly $2k/month.

    I guarantee you the larger the payment you make per month, the quicker or better the increases are going to come.
  4. Cadillac408

    Cadillac408 Well-Known Member

    I agree also....

    Pay the card off and then use it to charge clothes for your kids. That would be the best thing to do in my opinion. I do that all the time just to exercise my credit.
  5. mother2

    mother2 Well-Known Member

    Thanks you guys.

    I'm going to pay the account off. My account will be reviewed in April. Hopefully, they will increase my limit. :eek:)

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