The Motley Fool Discussion Boards

Previous Page

Personal Finances / Credit Cards and Consumer Debt

URL:  http://boards.fool.com/its-weird-but-if-you-have-never-had-a-cc-19122436.aspx

Subject:  Re: does making minimum payments affect... Date:  5/31/2003  10:15 AM
Author:  buckmizer Number:  161044 of 308659

It's weird, but if you have never had a CC balance, then I believe you have a more attractive score to lenders if you have actually just paid the minimums. That way it registers a loan being paid off instead of no loan at all.

Personally, I think that is silly. That's why I would not worry about it. It should not affect your standing if you are looking for a mortgage and if it does affect your financing for a car, you can buy a car from someone with a brain.

Fred
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us