Welcome to the bloggy home of Noah Brier. I'm the co-founder of Percolate and general internet tinkerer. This site is about media, culture, technology, and randomness. It's been around since 2004 (I'm pretty sure). Feel free to get in touch. Get in touch.

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Do I Need to Carry a Balance to Get Good Credit?

I remember when someone first said this to me, I was in college and DJing and the bartender was giving me financial advice. His argument was that if you pay your balance every month in full then you never build any credit. I remember thinking it was absurd at the time (and told him that), but it’s stuck with me. Anyway, after having the conversation again a few weeks ago and remembering it this morning I decided to check the internet for the answer.

Not surprisingly (to me), the answer appears to be no. Paying off your bill every month in full does build credit since the company is floating you whatever amount you spent for around thirty days (until your statement and due date arrive). Anyway, this is neither here nor there, but just thought it was a useful piece of knowledge (that miraculously doesn’t seem to be on Snopes.

April 29, 2009