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Question By
vane88

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Is it okay to keep a balance on a credit card?

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Do you like paying interest?

You can, but it's not smart.  Best thing to do is pay what shows as the total due when you get the bill.  Otherwise you end up paying interest on whatever balance is carried over and many cards have a "minimum" interest charge of at least $.50.  If you left $5.00 over and get charged $.50 for interest......doesn't look smart now, does it?

Top Contributor
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Yes and no

Credit cards are intended for you to carry a balance,  That how the CC co's make their money,

Carring a small balances will show utilization and that helps your credit score.

Paying off the balances every month will save you money in the long run, so it depends on what your tryng to do. 

Good luck

Top Contributor
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Pay it off

This really depends on how you are using the credit card. If it is a rewards card then pay it off in full every month. The interest they charge for carrying a balance is typically more than the rewards so you are losing the rewards to interest. If you are using a 0% interest introductory card to consolidate higher interest cards and lower the monthly payment, then yes as long as you pay the entire balance off before the introductory period ends. Hope this helps.

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