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re: Paying off a credit card too soon?
Posted on 2/26/14 at 6:58 am to Modern
Posted on 2/26/14 at 6:58 am to Modern
quote:
Q: I can afford now to pay the whole balance off right now. But is it wise to go ahead and pay it off now or let it sit and pay on it for a few months and then pay it off.....looking for the best results credit score wise
I could be 100% wrong here, but I don't believe it is the amount of time you have a balance, but the amount of time you have the card open.... So if they won't close the card if you pay it off, I don't think it matters.
Having said that, if you are getting 0% on the balance, make the minimum payment and invest the payoff you were going to use. No reason not to make money off of them.
2
Posted on 2/26/14 at 7:12 am to Lsut81
Right now I'm on 0% finance for 6 months.
Posted on 2/26/14 at 10:37 am to Lsut81
quote:
No reason not to make money off of them.
You'd be surprised at how much of a better deal I have been able to get at my local jewelry store because I pay in cash. I'm talking thousands.
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