Ken and Daria Dolan, America's First Family of Personal Finance, answer your money questions every Friday.
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We feel strongly about helping people with their personal finance matters the right way. Some of the "tips" we read elsewhere make our hair curl because they are just plain wrong! This is especially the case with credit cards.
One of the most common questions we are asked is about paying off credit card balances. We're sure you've heard the rumors that it's best for your credit score to carry a balance on your card and only pay the minimums. But you've probably also heard that it's best for your credit score to pay it all off every month. So what's true and what's false here? Watch our video below for the answer.
Dear Ken and Daria,
Which is better for my credit score: paying off my balance in full or paying the minimum a few times?
How is your credit these days? Ken and Daria share seven simple steps to improving your credit score, only at Dolans.com.
Ask the Dolans: Should I pay off my credit card balance in full?