When we write these poll questions, we hope you know we’re not trying to embarrass you, or pull too much personal information out of you. Most of the time, whoever writes it (Chuck and Emily mostly, but sometimes Diane or a reader too), has this topic on their mind and thinks, “Hmmm… I wonder what everyone else does or thinks about this?”
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Now, will you vote below and tell us if in the past year you’ve paid your credit card balances in full each month? It’s okay if you have, and it’s okay if you haven’t. We’re all in different boats (er, RVs). Thanks for voting.
For the first time in our life, we have no credit with a balance, We only have monthly bills.
We worked hard to retire debt free and it was so worth it. We use a couple of credit cards frequently but only because they give us cash back benefits or discounts. When we travel we use them to avoid carrying very much cash.We haven’t had to carry a credit card balance for about 20 years. Knock on wood.
the last time we carried a balance on a CC was 1972! last car payment was ‘90 or ‘91 and the mortgage was paid off in ‘03 or ‘04. walked into retirement in ‘05 100% debt free.
I started the year owing a balance on one card and worked to pay it off in April, and have paid in full for any usage since then. I usually pay off the credit card balance just before the statement period ends, so my statements still show zero balances.
Have 6 cards for airpoints, cash rewards and fuel discounts. Haven’t carried a balance since about 1995. Use a card for car or RV downpayments to get mile points, finance to get the dealer incentive. Month 1 pay it down to leave a small balance that will pay off in 5 more months. Because banks will take back the dealers incentive if paid off in less than 6 months. Do it like this and your total interest will be less than $20 for an incentive that’s $1000 or $500. My mortgage was done in 2006.
I use 0% credit cards and pay off the cards in proportion of how many months I have left of the promotion
Only use credit card for emergencies – so far so good, no use in over two years.
I always pay off my credit card balance every month. I’m appalled that this lowers my credit score, though. In the olden days that would have been a very good rating.
I don’t think it does lower your score…. it sure doesn’t mine.
I pay off my credit card balance every month also. I have noticed that I get credit score notifications that my credit score has changed (gone down 1 or 2 points) right before the due date of my credit card bill. That’s because there is a large balance. Right after the credit card company receives my payment in full, I usually get another credit score notice that my score has gone up! ( 1 or 2 points) This happens every month, so maybe that’s why your score goes down.
I use a credit card in place of writing checks and pay it off every month. I haven’t seen any evidence that this hurts our credit rating.
No. 😞
I use my credit card instead of cash and checks and I pay it in full every month. Using my c c this way gets me the points and I’m fortunate to be able to pay it in full every time.
I have never made a cc payment…never; hence, my credit score is always between 825 and 850.
Unless we have the money we pay off all CC bills. But normally I only do cash. With an art student it gets expensive. So we are in the middle with this answer.
We pay balances off every month…don’t like owing anybody!
Paid off every month.
Strange choices, given the question. When we are on the road I run up a substantial credit card balance, which I pay down over the succeeding months. When that is paid off, I pay my balance every month until we hit the road again.
when we are on the road I call each card company for the balance on a particular day and pay it on line that day.
Why not just pay it off when you get the monthly statement?
My wife pays them when she sees the bill on line each time. Whether it is due or not. We struggled financially when we were starting out and she has never liked owing anyone since. Now that we are older and can do this, it is okay with me. She would prefer to pay everything with a debit card straight from our bank account but I have been able to convince her that we get extra cash back on some purchases and a little cash back on some, so she tolerates me. 🙂
I am actually surprised that the credit card companies don’t cancel me. I have not paid a cent in interest in over 20 years.
The credit card companies collect a “fee” for every transaction you make. So they are doing quite well thank you, even if you pay off your balance.
Pay off once the charge clears every time. We just use the card for the free $$$ we get back for using it. If we never pay any interest then they are paying us to use the card… sounds good to me.
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I paid off two of my cards and my credit score dropped so now I maintain a small balance and make monthly payments.
You fell into the credit card trap, kinda like ransom. Either you keep a balance and pay interest or we’ll drop your credit card score. Multiply that by millions of customers and the small interest = handsome profit. Just a thought.
I’ve always paid my cards off each month and my score is in the high 700s.
If we didn’t pay those important CC off each month,,we wouldn’t get our good % age back every year. Or the good promotions. Not to mention the good credit numbers,,and a good nights sleep LOL
So glad to see 86% of us are not carrying debt month to month. I decided in my 20s that if I couldn’t pay cash for ‘it’ I couldn’t afford it. I have only made house and car payments long-term, and even those got paid off early too. Everything else gets paid for within 30 days at the latest, otherwise it isn’t a bargain!
Months can go by before I use currency. Keep 2 $50 bills in my wallet for those rare occasions where they don’t take CC. Depending on card I get back 1.5 to 2 percent of charges so I love charging everything. Racked up so much I used the cashback to pay off the monthly balance once. I’m talkin’ a 4 figure balance.
Every month without fail. We use them when on the road. They are nice to have but I don’t like giving financial company’s my hard earn money.