I buy things on credit card, and pay the full amount off, but my credit score is going down instead of up?
I have nothing else my name expect this credit card, and student loans that are not due yet because I am still in college.
I buy things on credit card, and pay the full amount off, but my credit score is going down instead of up?
I have nothing else my name expect this credit card, and student loans that are not due yet because I am still in college.
That person's advice was 100% correct in this case. Your score does not go up if you have a balance, it goes down . Pay in full every month and gradually it will go up, even if there's bumps on the way.
This myth started because if you have a credit card you literally never use, they might close the account and having fewer accounts open can hurt your credit score. That's not at all the same as paying the full balance every month.