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Everyone's Talkin' Money

Are You A Fool For Paying Your Credit Card In Full

Everyone's Talkin' Money

Shari Rash

Business, Self-improvement, Education

4.6 • 631 Ratings

🗓️ 9 February 2018

⏱️ 21 minutes

🧾️ Download transcript

Summary

This episode was inspired by a listener question sent in by Dezmond. He and his father had a bit of a disagreement over whether you should pay your credit card off in full each month or leave a balance to build a strong credit score. I'm so happy to answer this question definitively - no, you're not a fool to pay off that card each month. On This Podcast Episode: Let's review the five factors that influence your credit score I'm explaining why you don't need to keep a credit card balance So what do you do if you can't pay that card off in full each month How does not using your credit card actually hurt your credit score Thanks for Tuning In: Thanks for tuning in to listen to this episode of Millennial Money. Every listen means so much to us. If you’ve enjoyed this episode, please share it on social media using the hashtag #millennialmoneypodcast. Also, please leave an honest review for Millennial Money on iTunes! Ratings and reviews are extremely helpful and much appreciated! You’re awesome! Want More: Shannah on Twitter Shannah on Instagram Disclosure: The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. There is no assurance that the techniques and strategies discussed are suitable for all listeners or will yield positive outcomes. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hey, I'm Shawna Compton Game. This is Millennium Money, and today we're talking,

0:04.1

are you a fool for paying your credit card in full?

0:26.3

Millennial Money with Shawna Compton game.

0:30.3

It will expand your brain.

0:40.1

So this is a place where we can be friends, right?

0:43.4

We can talk, have an open, honest relationship.

0:48.7

We can connect with each other, even if I don't know who you are, you know who I am. And I feel like I know you, even if I don't know you.

0:52.0

And, you know, the topic that we're dealing with today is one that is

0:58.0

sure to ruffle a few feathers. There's always really strong opinions when it comes to a lot of these

1:04.8

kind of core money topics, I feel, especially on Twitter. You probably don't pay attention to a lot of money tweets on Twitter,

1:14.3

but I do, of course, and I follow a lot of people. And I always think it's interesting to

1:18.4

see what their perspective is on a lot of these different topics that we talk about on the

1:22.7

podcast. And, you know, they're just kind of going on. And credit card debt is one of those big topics.

1:30.7

And the topic of should you pay off your credit card in full every month is certainly

1:37.2

an area that is just full of so many different opinions that sometimes I just get like a really good laugh at listening

1:47.7

to people. You know, I love that they're passionate about it, but sometimes people are like getting

1:52.4

an all out, you know, internet arguments, I call them, because I don't know if they're actually

1:58.2

arguments or not, but people are saying like some really

2:01.2

heated things. And I'm like, wait a minute, we're just talking about should you pay your credit

2:06.9

card in full each month, right? Like, we're not talking about, you know, like the water crisis

2:12.3

around the world or we're not talking about starving children in Africa, you know, we're not talking about all the

2:18.9

violence that's happening in the United States. We're talking about like should you pay your credit

...

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