Fixed vs. Variable Regular APR — Fixed is preferred for most people
carrying a balance on a credit card since this means your interest rate won't change, but variable rates can be beneficial too as long as you understand the range on which your interest rate can vary.
Not exact matches
While it's never a good idea to pay interest
on debt just to get a tax benefit —
since you can never receive a discount that will match the total cost of holding the debt itself — the truth is many small businesses need to
carry over
balances on their
credit cards to keep running and, ideally, to grow.
Keep in mind if you have 10
credit cards each with $ 2,000 limits, lenders will count that as $ 20,000 you have already borrowed, regardless of whether you're
carrying a
balance or not
since you can draw
on those
credit card limits at any time.
Since you're
carrying a
balance on your current
credit card with a 19 % interest rate, how could this gift from the
credit card gods not be a win!
Since your utilization is based
on how much you owe
on your
cards in relation to your
credit limits, having more available
credit means a lower utilization rate — and thus, a higher score — as long as you're not
carrying a higher overall
balance along with it.