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[quote]QUOTE: Originally posted by icmr I dont know why people max out a credit card. IMHO you should not have one at all. NSR i disagree with you that they should be used only for emergencies. They should not be used at all. What I am saying is if aint got the cash not and you know you aint going to have it later then why mess up your credit rating when you can wait, save up the money and get it without messing up your rating. Victor Happy Railroading.[swg][swg] [/quote] Victor - Understand that credit ratings are a device invented and supported by the finance industry. They are skewed to how they WANT you to behave to maximize their profit. For instance, working on a cash basis is about the WORST thing you can do for your credit rating. Paying off your credit card each month will give you a LOWER score than paying regularly but carrying a balance. Why? They like earning the interest of you carrying a balance. The people who are the best financial-manager of their budget are often NOT those with the highest credit ratings, and the people who are slightly irresponsible (i.e. more debt than they should have, but manage to keep making payments) will often have very high scores and get offered MORE credit. That's how you get these stories of "she was in trouble but they just kept offering her more credit"... It's almost like dealing drugs... once they see you're an addict, they view you as a "prime customer"... Just wanted to clarify that a "good credit rating" and responsible financial management are _not_ necessarily one and the same.
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