Carry Balances-Good or Bad?

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Replied by hanna on topic Re: Carry Balances-Good or Bad?

Well that was very nice of them to increase your CR so they could add your AF lol.



lol...a great business strategy. :cheesing:
9 years 5 months ago #1

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Replied by smcc on topic Re: Carry Balances-Good or Bad?

Have a question here, say you have an AMEX Charge Card and an Amex Credit Card. The charge card has to be paid off by the end of every billing cycle while the Credit Card (don't have one so I am assuming) can carry a balance.

If you consistently carry a balance over, be it large or small and you pay the mininum or the mininum +, would AMEX ever consider you for a Charge Card if they have never seen you pay off in full your credit card ?
9 years 5 months ago #2

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Replied by Brian23 on topic Re: Carry Balances-Good or Bad?

I've noticed one time when I paid 50% of my balance, my cl was increased in my next statement. Then, recently, i was surprised to learn that my cl increased again when I've maxed out my card and it was time to bill me for my annual fee.


Well that was very nice of them to increase your CR so they could add your AF lol.
9 years 5 months ago #3

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Replied by julienne on topic Re: Carry Balances-Good or Bad?

I've noticed one time when I paid 50% of my balance, my cl was increased in my next statement. Then, recently, i was surprised to learn that my cl increased again when I've maxed out my card and it was time to bill me for my annual fee. :D
9 years 5 months ago #4

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Replied by Brian23 on topic Re: Pat myself on the back

Yeap, it's a great feeling to pay off all your CC balances. Congrats on that and great job with staying on top of it.
9 years 5 months ago #5

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Replied by Wanderer on topic Re: Pat myself on the back

WOW! :laugh: Using credit responsibly does work. Great job! I am impressed and it gives others on this FG site proof that it can be done.
9 years 5 months ago #6

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Replied by Meya on topic Re: Pat myself on the back

:white-flag: :white-flag: :white-flag: Now that is what I am talking about!
9 years 5 months ago #7

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Replied by hjm331 on topic Re: Pat myself on the back

Congrats MsKiwi! That's a huge accomplishment and definitely something be proud of. I'm trying to pay down my balances as well.
9 years 5 months ago #8

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Replied by MsKiwi on topic Pat myself on the back

I have just gotten to a $10 balnance on one card which brings my other 7 cards showing a 0 balance which should really help my scores. I'm reaching 700 and this may make me hit it! Just 2 years ago I was in the low 500's. Hang in there people, it can happen!
9 years 5 months ago #9

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Replied by RivasGlo on topic Re: Carry Balances-Good or Bad?

On retail cards... the promo usually just defers the interest for X # of months... If not paid by the promo duedt your basically screwed!

Now w. my Chase Freedom card... I was on 0% for 6 months and numerous reps/managers told me that I can leave a $100 balance and they wont charge back interest. I left a small balance and I only got the interest on that goin on foward. So I thought that was cool.
10 years 9 months ago #10

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Replied by hjm331 on topic Re: Carry Balances-Good or Bad?

It's a different story with BOA, Citi, Chase, etc. When they say 0% purchases for 12 months, they actually start charging interest when your 12 month no interest promo is over.
10 years 10 months ago #11

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Replied by Meya on topic Re: Carry Balances-Good or Bad?

I think a lot of them knew, they just get too comfortable with it. I always take advantage of this with Lowe's, any little dime that I save makes me feel like a winner.:fun:
10 years 10 months ago #12

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Replied by charonh on topic Re: Carry Balances-Good or Bad?

It all depends on your interest rate. I love taking advantages of no interest promotions.


HJM, that's exactly what I said. I love no interest promos too, but you still have to be disciplined and make payments so that the expiration period doesn't creep up on you. That basically happened with my Rooms to Go card. Hindsight, I should have divided the amount owed by the number of months I had to pay and just sent that amount to them every month. I had 18 months, so why did I wait until the last minute to get serious. You live and learn, which is why I am spreading my wisdom on in hopes that it will help someone else.
10 years 10 months ago #13

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Replied by hjm331 on topic Re: Carry Balances-Good or Bad?

They must've not read the fine print.
10 years 10 months ago #14

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Replied by Meya on topic Re: Carry Balances-Good or Bad?

Of course. I was reading that in the link a member provided in the cc reviews. This person was complaining because they paid the balance off 1 month after the promo. How could you be mad at that? They took the deal so pay up. Now they want to tell the world not to deal with them, I bet they are still having a good night rest on their air mattress. Before i pay them $300 in interest, I would file bk....lol.
10 years 10 months ago #15

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