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  • 4 Comments
Joined 1 year ago
Cake day: August 3rd, 2023
  • bitwyze@lemmy.worldtoAsk Lemmy@lemmy.world•What's a bit of good advice that's really bad advice?
    9·
    7 months ago

    Isn’t that just not true?

    https://www.capitalone.com/learn-grow/money-management/credit-myths/

    Myth No. 5:  You have to carry a credit card balance to build credit

    If you don’t pay your credit card balance in full, it’s carried over to the next billing cycle and considered a revolving balance. And that unpaid balance might accrue interest. 

    You don’t need to carry a balance to build credit. According to the CFPB, “Paying off your credit cards in full every month is the best way to improve a credit score or maintain a good one.”

    Fact No. 5: You don’t have to carry a credit card balance to build credit

    While carrying a balance isn’t necessary to build credit, a healthy credit utilization ratio—which measures how much available credit a person is using—is an important part of credit. 

    In addition to paying off credit card balances in full every month, the CFPB recommends keeping a credit utilization rate of less than 30% of your available credit. That can be a way to show you’re responsible with credit.

    I pay my credit cards in full every month and accrue zero interest and have excellent credit…

  • bitwyze@lemmy.worldtoAsk Lemmy@lemmy.world•*Permanently Deleted*
    14·
    9 months ago

    I’ll take this opportunity to plug Crandall Office Furniture, since I learned about them in a similar reddit thread a couple of years ago. My girlfriend was looking for a new office chair because all the cheap ones she’s tried have destroyed her back. We got her a refurbished Leap v2 for about $600, compared to the $1200+ it would be new. She absolutely loves the chair and has had significantly fewer issues with her back. And you’d never know the chair was used, they do an excellent job refinishing everything. Highly recommend, I’ll be going with them when I need a new office chair.