PAYING OFF MY CREDIT CARD BALANCE WILL HELP OR NOT?

NOT NECESSARILY THIS IS THE BEST WAY.  WHAT BUILDS YOUR CREDIT IS A DEMONSTRATION THAT YOU CAN MAKE PAYMENTS.  THE PART “MAKE PAYMENTS” IS THE KEY POINT HERE.  BECAUSE THIS WAY, THE CREDIT SCORE REPORTS MONITORS YOUR ABILITY TO RECEIVE MONTHLY BILLS AND SHOWING THAT YOU ARE ABLE TO PAY IT.  THIS IS TRACKED, MONITORED, FOR THE PURPOSE OF KNOWING THAT YOU ARE “RESPONSIBLE” AND WILL PAY YOUR BILLS ON TIME.  IF YOU MISS THE PAYMENT, THEN THEY THINK THAT BY EXTENDING YOU CREDIT, YOU WILL HAVE A LIKELIHOOD OF MISSING PAYMENTS, WHICH LEADS TO THEM NOT GETTING THEIR MONEY.  THIS KNOWLEDGE IS IMPORTANT FOR THE CREDIT SCORE REPORTS TO HAVE A HISTORY ON YOUR ACTIVITY.

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