Do they include people who buy everything on the card to get cash back or convenience and pay it off every month before interest comes due? Those cards will always carry a balance, and the credit agencies record as such, but no interest is paid.
>> Do they include people who buy everything on the card to get cash back or convenience and pay it off every month before interest comes due?
An excellent question. That strategy defines the Tick household to a “T”. We have $5K to $10K CC bill every month, and we pay it off in full. We have zero other debt.
They count that. We put nearly everything on cards and pay it off every month. We surpass $6500 at times. They should be counting interest paying balances only.
If that’s the case I’m still below average and we use our cards for everything. I spend $2-3,000 a month on work travel plus our household expenses.
Most cards these days actually collect interest on a daily basis. They just divide the APR by the number of days in the year and charge based on that.
You just described me. I pay everything by CC, and pay every CC off each month. 841 credit rating.