if you do that, your credit rating stays in the tank. Make your credit cards work for you. 1) Every once in a while, carry an item for 6 months' worth of payments. or 2) take the 'we'll give you this much cash advance!' and put it right into a savings account which you will use to 3) Pay on time. Watch your credit rating go up. And when your credit rating goes up, your credit limit goes up. When your credit rating and limit goes up, other lenders are made more comfortable loaning on really big ticket items, like cars and equity lines, at more favorable interest rates.
Now, was a better credit rating and a higher credit limit worth 6 months of interest? youbetcha
I have 15 credits cards, zero balance on all of them, and no other debts. My credit rating is 812 (just checked).
What bozo told you that? I’ll put my excellent rating against that hooey any day.
I do that and my score has remained in the neighborhood of 830. Haven't had any mortgages or other loans either for at least 7 years.
I guess it depends. I stopped buying things on time years ago and don’t anticipate ever doing it again. My CC bill gets paid in full every month. My credit rating isn’t worth paying to bump it. I don’t even know what it is.