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Nwilson, post: 267757, member: 116344 wrote:
I have 1 credit card with about a $15,000 limit and I usually keep anywhere from $900 to $1400 revolving on it every month. I don’t have any loans out or anything else like that. I have more than $20,000 in savings. My credit score only goes up 1 point every now and then when I pay the credit card to a lower monthly statement amount then it was the month before.

This bit confuses me, you pay down your credit card balance each month to a lower level then the previous month (thats how I read it anyhow), but don’t pay it all off. But you have 20K in the bank, so why don’t you pay it off the credit card each month.

Unless you are on a great deal with the bank (Yeah right), you are paying 15% on the balance of the credit card, and if very lucky getting 0.00456% interest on that amount while in your savings. I could understand it if the interest rates were flipped, but as it stands you are making a voluntary contribution to the banks rip off bottom line.