Quote:
Originally posted by Hakan@Jun 15 2005, 10:11 PM
Pay it off completely, right now.
Then use it on a monthly basis and pay off the statement balance on the due date each month for two years.
Do not pay a dime of interest and do not use the card to spend outside of your means. This improves your credit rating and doesn't allow those vultures to profit off of you.
I used to work at the Royal Bank doing credit checks of people
Also, this is really important, read the contract that came with the card in its entirety.
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Sound advice.
If you have trouble handling credit - and many people have personalities which render them incapable of having anything less than all their credit facilities at the max - then having credit which requires you to pay it out completely every month might be the way to go.
A lower level American Express card requires you to pay off the balance every month . . . . you have no option.
Cowperson