Posted on: 10th Oct, 2011 12:51 am
Hi there… I'm finally going to own my first secured credit card. I have decided to use this only for buying gas and then pay it off each month. However, one of my friends suggested that it's best to leave a balance. Is it the right thing to do? How soon will I see an increase in my scores??
I personally feel that it will be better if you could pay off the balance in full. This will help you in managing your credit card debts well and you will be able to increase your scores. It might take some time for you to find an increase in your credit scores.
NO!!! Why do friends tell friends these sorts of things? This is one of the worst credit myths, so let me be clear. Leaving a balance on credit cards will not help you build credit faster. Always pay your balances in full and on time- that's the best thing you can do for your credit scores.