Credit Card Balance and Scores?

I have seen many people say their bank told them it would help their credit, they need to teach personal finance classes in high school and college. too many college grads don't even know how credit cards work.

Bankers often tell people that they need to carry at least a small balance to build credit and to show they can make payments over time and even that paying interest shows something... Some of the worst credit info I've seen has been spouted by "bankers".

Then of course there are the many "credit expert" sites where all the idiots misquote and misinterpret facts.

This is all BS. If you rack up a CC and then pay it off every money your not improving your credit score. If you want to improve a credit score keep it between 10-15% of the total credit limit, however then your paying finance and apr charges, so your really paying for a credit score. Either way credit scores are a lose lose for all Americans. Stay in debt, and work on paying it for 30 years you get a great credit score, pay everything in cash which is smart and you get a horrible credit score, cool huh?

THis is because companies dont judge you based on your ability to pay off the full balance, but rather by theyre ability to make money off you.....If you pay off 100% each month then the companies make no money off you....but if you pay of MOST of the balance but leave a little bit then your score goes slightly higher because they have just made some interest off you, but they still see that your gonna pay instead of bail.....

Maybe the credit card companies started it on purpose so that they would make more money. Funny though, they don't seem that smart...

Sounds like you did and your trying to perpetuate it !

Your a nation of scammers as is most of the rest of the world !

Best and worst example is marlboro cigarettes hiring a non smoking actor to be their advertising cowboy ! "better start smoking" they tell him , he does and dies of lung cancer !

It is probably a rumor proliferated by those/that which would benefit.