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If I spend N thousand dollars on my credit card per month and pay it off every month, does my contribution to revolving debt show up as $N thousand, $N/2 thousa
by dkarl 16y ago
If I spend N thousand dollars on my credit card per month and pay it off every month, does my contribution to revolving debt show up as $N thousand, $N/2 thousand, or zero?
- rbranson 16y agoIf they track it by using consumer credit reporting bureaus, they track your balance as the amount shown on your last bill, regardless of if it was paid in full or not. If that is the case, I would assume a decent chunk of this is debt that no interest is being paid on as well.
- bugsy 16y agoVery interesting point, this might be almost nothing at all then.