How common is it for people to not pay off credit cards every month/actually pay the interest on them?

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???? Why would anyone not pay off thr credit card at end of month

likesmart

This thread demonstrates how incredibly detached from the real world consultants are.
Majority of people that carry credit card balance do not have nearly the level of education or privilege the people in this group do.

likesmartfunny
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Lol D1 carrying a balance on a credit card doesn’t help your credit.

likesmarthelpfulfunny

D1, carrying a balance does NOT improve credit score. That's a myth

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D1 you know that's a load of bull right? I've never carried a balance in my life and even after an identify theft I've still got a 780 fico score

likesmart

Not all people are fiscally savvy consultants.

likefunny

...bc some people have medical / debt issues and life happens 🙄

This is like asking why some people have diabetes even though they know they should eat better and exercise more

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Many people are not as financially stable as consultants and rely on CCs as back up if things get hard or to get them through an expensive time of year and smooth it out later. Agree with the wisdom above but don’t judge people that can’t follow it to a T or aren’t afforded opportunities to even learn that paying just the minimum is a terrible idea. Okay stepping off soapbox

likesmart

I don’t think income level is a predictor of one carrying credit card debt or not. I’ve seen people making $200k+ with with debt and little cash saved because they think they need to keep up with the Kardashians. I’ve seen people making $50k with 0 debt and a modest cash cushion because they know how to live within their means

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D1 you have no idea what you’re talking about

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This thread demonstrates the number of idiots out there.

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To build credit. Does not matter how much money you make. If you can't prove that you can carry a balance and pay it down and then off. They look at history and on time payments

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@ey2 that's a load of baloney. I'm a first generation immigrant, and I still remember the days when my parents made 4 bucks an hour. For my entire childhood, we were never financially stable but my parents have never carried a balance and harped this to me nonstop when I got my first card. My dad only uses them for the cash back. There are some people who need to carry a balance because they were hit with unforseen expenses, but i guarantee you it's far more likely that the people who do do so because of impulse buys or beliefs in financial myths such as "carrying a balance helps your credit score!"

likesmart

C1 - poor people sometime don’t have a choice. You fantasize that they are all irresponsible from your self righteous perch, not realizing that sometimes it’s a decision between food and no food. If you can always pay your bills on time you are not poor. Real Poor is arms length from starving .

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Read a stat recently that only 30% of people carry no balance on their credit cards. Not sure if correct

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“If you’re looking to raise your credit score, ask your credit-card company to increase your credit limit … your credit utilization is a big part of your credit score," Rae said. “If you raise it, you’re only utilizing a small amount of your credit."

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Wow at “if you are in america and willing to hustle, its really hard to stay poor”. I’ll make sure to call my parents tomorrow & tell them they just havent hustled enough.

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Exactly^^

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