CC minimum payment question

[Tijuana]

So this is concerning my credit rating, if I pay the minimum payment on my cc statement, then I get charged interest, but my credit rating doesn't change, correct? Also if I get a cc that has no interest for 12 months, does that mean I just have to pay minimum payment, I wont get charged interest and my credit rating wont be affected? thanks

[chuppe]

You are correct that paying the minimum is considered an on-time payment and you the account will be considered in order.

However, if you pay only the minimum and you keep adding new purchases, your overall debt usage ratio will increase and this will have a negative impact on your credit score.

The same applies for 0% credit score. If you withdraw the entire amount to take advantage of the 0% interest, your debt usage will go up and your credit score will take a hit.

[qster]

Just paying the minimum isn't good enough.
You might want to consider paying a bit more if you can.

If you keep paying just the minimum, it proves you aren't a delinquent, but your credit rating may do down based on how much credit you have owing...same applies if you have too much credit.

Applying for another CC or for more credit will lower your score as well.
So remember that each time you fill out a CC application to get some no-frills gift. It costs them pennies on the dollar to what you'll owe them in interest.