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Posted in these groups: 8f8d3e40 Navy Federal Credit Union
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Responses: 4
SGT Lab Technican
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Navy Times Most credit cards depend on you making less that total paymeny... with major interst charged.
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SFC Randy Hellenbrand
SFC Randy Hellenbrand
1 mo
Less than the minimum also goes against you credit score.
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Cpl Vic Burk
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Credit card companies count on you not being able to pay them off at the end of the month. You don't see the money leaving your wallet and lose track of how much you spent. Before you know it you are up the creek without a paddle and pretty soon borrowing from Peter to pay Paul. That is where credit card companies want you so they can kill you with their ridiculous interest rates. Banks (and credit unions) pay you less than 1% by but are charging the card holder up to 24% or more.

If you can't pay it off that month, don't get it unless it is a life or death situation. I pay mine off immediately online as soon as it moves from "Pending" to "Posted."
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CSM Darieus ZaGara
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Just my strategy, it may not be for everyone.

My personal practice is to always pay off the credit card within that month, I have never paid interest on a CC. I have on the other hand received handsome checks on the back side.

This practice also kept my eye on the finances in an effort to retire early as I did. I was a Soldier for most of my life, salary assent huge but did allow for a respectable lifestyle.

So don’t shy away from the cards, when properly managed they also allow for lower interest rates for cars, homes etc.
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CSM Darieus ZaGara
CSM Darieus ZaGara
1 mo
Agreed, that is why the youth needs to be made more financially savvy , to cut back on this sad state, which is almost always avoidable. Cpl Vic Burk
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SFC Randy Hellenbrand
SFC Randy Hellenbrand
1 mo
And don't forget that only nice benne of cash back. Hell, it's the only interest I get from the banks anymore.
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CPT Lawrence Cable
CPT Lawrence Cable
1 mo
I didn't always follow that rule (or my spouse didn't follow it), but we turned that around and now pay all of the revolving accounts off monthly. I use them through the month, save the cash back for Christmas, and pay the damn things off as soon as they roll over.
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CSM Darieus ZaGara
CSM Darieus ZaGara
1 mo
That is the way to go. CPT Lawrence Cable
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