DB Marketing and Finance
Written by on 04/15/2017
Of course it doesn’t go with that DR says. I have said it before that DR doesn’t live in my house and in my city therefore his program is just suggestions and guidlines to follow. They need tweaking some to work for my family.
I had this same conversation with a friend and neighbor of mine last week. Her car insurance DOUBLED from what it had been the previous month. Nothing in her policy changed as far as claims, type of coverage, pays in full every 6 months, etc…but what did change was her debt had gone away. She doesn’t have credit cards, never has. But she had student loans. That 10 months ago had paid off. Well her insurance company pulled all her (and her hubby’s) credit reports and DMV records this time and found that due to her lack of credit it put her in an “F” rating and labeled her high risk. After talking with the agent (they’ve had the same one for 9 years) he was able to move their rating back to a “C” since he knew the circumstances. But here is WA (STATE) they are govern by regulations so that was the best he could do for them. Yes they looked around and found the same issues every where else.
So I say if you KNOW 100% you can pay in full do it. However, you don’t have to use the card every month for it to be a positive on your credit report. Charge a few bills there for a month, pay them off and them use it to pay ONE bill only once in a while, every 6 months or so. I only recommend doing this if KNOW you will pay it off. For some credit card debt of any kind is a weakness and even though they say they can do it, their records shows they can’t. Credit cards were never my weakness, and even though I am debt free except my mortgage, we use our credit cards (yes I have three open cards) I only use them once in a blue moon….and yes, when I use it I pay if off right away. I use it for hotels and online purchases. Again not what DR recommends, but for us it works.
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