I know for a fact that if you carry a balance, it will look worse on your scores than if you do not. I've seen my credit score jump 75 points just by paying off the balances.
When we got our mortgage, we'd made sure that we didn't have a balance on any of our cards. They were zeroed out. The lender told us to charge about 10% on the cards because the underwriters wanted to see some kind of activity on the card. We did it, begrudgingly. I hate carrying a balance. Lenders like to see activity on the card, but it always looks better to pay it off every month. So we charged the cards for a few things that we would need for the new house, and then paid them off after we got the mortgage. We couldn't even pay them off until the mortgage was finalized.
I love that show. But yeah, I used to give my daughter all kinds of stuff that I had too much of. I was always giving her unitaskers (as Alton Brown calls them) that I thought I absolutely had to have, that I never used. I still have enough unitaskers that I have a shelf in my garage filled with them.
Thank you, Quazi!
"The necessaries of life occasion the great expense of the poor. They find it difficult to get food, and the greater part of their little revenue is spent in getting it. The luxuries and vanities of life occasion the principal expense of the rich, and a magnificent house embellishes and sets off to the best advantage all the other luxuries and vanities which they possess. ... It is not very unreasonable that the rich should contribute to the public expense, not only in proportion to their revenue, but something more than in that proportion."
-- Adam Smith
In February of 2001 my maternal grandfather passed away in Minnesota. My mother had been visiting for the two weeks before he passed. Once all the plane tickets, hotels, etc.... were added up, it became clear that my parents would be very close to the limit on their one and only credit card. They called the credit card company to ask for a temporary credit increase and were turned down. When they go the letter, it said "Insufficient Activity on Card" as the reason for denial. They used it regularly, but always paid it off at the end of the month. A friend of theirs in the financial industry told them that quite a few credit card companies consider a card "Inactive" in any month that they do not charge INTEREST to that account.
Liberals - Punish the Successful, Reward the Unsuccessful
Liberals - Tax, Borrow, Spend, and Give Free Stuff
Obama's legacy - National Debt / Credit Downgrade / Obamacare Failure / Economic Failure / Foreign Policy Failure / Liar of the Year Award / The Rise of ISIS