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Reply to "Incredibly dumb question—can you not pay of CCs in full every month & still have a high credit score?"
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[quote=Anonymous][quote=Anonymous]My parents told me they (combined) have about $4k in CC debt, and that they only make the minimum payments each month. My mom said they both have 790+ credit scores. How is this possible?[/quote] As long as you pay at least the minimum on time, you are fine. Keeping a balance doesn't generally affect your score negatively. It would only have a negative effect on your score if the balance you keep is so high that debt to credit ratio is 30% or above. Paying your balance in full has no major effect on your score. Not being late and making at least the min. payment contribute more to your score. Paying your balance in full is more about avoid paying cc interests. [/quote]
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