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Personal Finances / Credit Cards and Consumer Debt


Subject:  Re: Credit Score Factors Date:  4/22/2021  7:52 PM
Author:  CMF_Fuskie Number:  313027 of 313061

If you are receiving advice that you can improve your credit score by carrying debt, then you are receiving bad advice. The opposite will happen. People who carry non-promotional debt are demonstrating that they purchase more than they can afford, rather than being able to control their card usage to what they can afford on a regular basis.

Now it is true that if you can successfully manage 2-3 credit card accounts, that demonstrates more credit discipline than a single credit card account. That may be where you are getting confused - the motivation for the advice.

Who notes the whole point is to earn credit (pardon the pun) for the responsible use of credit; there is no credit for taking on debt...

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