Credit Card Debt Management

So you always hear so much about how good it is to pay off your full credit card balance monthly. Responsible credit card usage is paying your balance off in full each month, right? That’s what everyone you’ve ever known has told you your entire life - your daddy, your mama, your best friend, your best friend’s daddy and mama, your college professors, your girlfriend, your boyfriend, your goldfish - yes, even financial web sites like Banks.com

What’s missing here? You won’t see any credit card companies among this list. I couldn’t have been the only one wondering what credit card companies think of this (seemingly) sound financial advice. Naturally, they think you’re a deadbeat.

Check out this Sept. 16 “Money Talk” column in the L.A. Times. Major enlightenment here. The question asked of column writer Liz Pulliam Weston is why, of the two credit cards owned by a particular reader, was the interest rate increased on the card she paid off each month? Good question.

You just have to read the answer because it is that good. Apparently, this savvy consumer is being penalized and labeled a deadbeat for paying off the credit card balance monthly. Take a lesson from the reader’s determination in threatening to cancel the credit card, refusing to back down and ultimately winning the fight.