Should you keep a balance on your credit card?

Credit bureaus don’t publish the formulas they use for your credit score, but we know the basics: carrying a balance doesn’t help. The best way to boost your score is to use credit responsibly, which means paying on time, in full, every time. That’s true for all type of loans, including credit cards. There is no benefit to carrying a balance month to month.

In fact, carrying a balance costs you money in interest and can actually lower your score. Want to know why? Click here to read the full article or watch this short video!