i pay off my credit cards in full every month. do cc companies hate me or love me?

Jul 10, 2007
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my monthly statement is usually $1-1.5k a month.
i've never carried a balance, never paid a penny in interest in my life to cc companies.
i guess they only make money off the transaction fees charged to the vendors.

in general, do cc companies like me as a customer or hate me?
 

TallBill

Lifer
Apr 29, 2001
46,044
62
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I charge around $1500 a month to my credit card with rent and a few utilities and pay it in full.

I do this to build up my cashback which is up to $250 so far this year, not bad! It's 1% on somethings, maybe higher on others.
 

Vehemence

Banned
Jan 25, 2008
5,947
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For you it's nice but they'd much rather you pay interest and late fees and everything else they make money off of.

But eff them!
 

D1gger

Diamond Member
Oct 3, 2004
5,411
2
76
Between my two cards I generally charge about $2,500 each month, and I pay them both off in full each month. I like the rewards and convenience of the cards, and they get the service charges from the retailers.

Win - Win.
 

ja1484

Platinum Member
Dec 31, 2007
2,438
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Do they hate you or love you?

Honestly, they probably don't really know right now. You're low profit but also low risk.
 

Farang

Lifer
Jul 7, 2003
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I recently got a BoA credit card purely as an emergency card so I won't be homeless if I run out of money. I have no job, very little in the bank. So BoA calls me a week after I activate the card telling me about the reward points and how with the holidays coming up it is a good time to use the card. Isn't this why our economy sucks right now? Banks encouraging people like me to get into debt?
 

nageov3t

Lifer
Feb 18, 2004
42,816
83
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they're not making as much money off you as they are off everyone else, so they probably hate you.

I usually pay off my balance every month as well, though I've been carrying a balance for the past couple months as money's been tight... after christmas shopping is done, my prime financial focus is going to be paying it off, though.
 

darkxshade

Lifer
Mar 31, 2001
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Missing an option on your poll.

Paying off statement in full != paying off statement balance due. I pay off the statement balance monthly which may include a list of charges made after the current billing cycle ended and won't be charged interest until after next months balance.
 

TallBill

Lifer
Apr 29, 2001
46,044
62
91
Originally posted by: darkxshade
Missing an option on your poll.

Paying off statement in full != paying off statement balance due. I pay off the statement balance monthly which may include a list of charges made after the current billing cycle ended and won't be charged interest until after next months balance.

I pay the balance of my USAA card about 3-4 times per month. I realize that I could wait and earn some interest on the average monthly $1500 balance, but its just easier for me to see a $0 balance keep popping up.

Since I've had my USAA card I've never even seen an amount due greater then $0.
 

gorcorps

aka Brandon
Jul 18, 2004
30,737
448
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I pay it off in full every month as well if I can. I had a debit card for years, and just decided to get a rewards cc and use it as I would a debit card except I pay once a month instead of instantly. I haven't had the card for long and have gotten a couple hundred $ in gift card rewards. I don't think the companies give two shits about us honestly
 
Jul 10, 2007
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Originally posted by: darkxshade
Missing an option on your poll.

Paying off statement in full != paying off statement balance due. I pay off the statement balance monthly which may include a list of charges made after the current billing cycle ended and won't be charged interest until after next months balance.

isn't that pretty much assumed?
esp. those that aren't paying online, your paper statement only lists the balance up to the previous billing period.
 

Demo24

Diamond Member
Aug 5, 2004
8,357
9
81
Originally posted by: Farang
I recently got a BoA credit card purely as an emergency card so I won't be homeless if I run out of money. I have no job, very little in the bank. So BoA calls me a week after I activate the card telling me about the reward points and how with the holidays coming up it is a good time to use the card. Isn't this why our economy sucks right now? Banks encouraging people like me to get into debt?

Be a good idea to at least use it for a few small items and pay them off at the end of the month, otherwise you might run the risk of getting that card shut down after so long.
 

acheron

Diamond Member
May 27, 2008
3,171
2
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I had 6 months interest free when I first got my current CC, so during those months I carried a balance sometimes, because why not? Since that offer expired I pay it all off every month.
 
Nov 7, 2000
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accidentally paid less than the max one month
i would think they still like you, as long as you are using the card. they rake in the cash every time you use it.
paying off current balance is nice, but i prefer to keep my money as long as possible
 

darkxshade

Lifer
Mar 31, 2001
13,749
6
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Originally posted by: BlahBlahYouToo
Originally posted by: darkxshade
Missing an option on your poll.

Paying off statement in full != paying off statement balance due. I pay off the statement balance monthly which may include a list of charges made after the current billing cycle ended and won't be charged interest until after next months balance.

isn't that pretty much assumed?
esp. those that aren't paying online, your paper statement only lists the balance up to the previous billing period.

No my paper statement also includes charges made up until the statement was created and mailed and when I pay there are 2 choices:

1. Paying what's due for the current billing period
2. Paying what's due as of this statement

neither result in interest charges because the extra you're paying with choice 2 are charges that will show up for next months statement.
 

FeuerFrei

Diamond Member
Mar 30, 2005
9,152
928
126
I've been carrying a few grand balance for years.

Back in '03 I had $1500 in hand and could have paid off the card, but my car really needed painting so it got painted.

 

CRXican

Diamond Member
Jun 9, 2004
9,062
1
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I use my CC for just about everything to get cashback rewards and pay the balance in full each month.

I try to keep the monthly balance under $1,000 so it's easy for me to pay off.
 

TallBill

Lifer
Apr 29, 2001
46,044
62
91
Originally posted by: FeuerFrei
I've been carrying a few grand balance for years.

Back in '03 I had $1500 in hand and could have paid off the card, but my car really needed painting so it got painted.

lol, no car needs painting :)
 

daveshel

Diamond Member
Oct 10, 1999
5,452
1
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No credit card company has ever made a dime off of me. They still get a lot of transaction fees, and they never have spend anything on collections - I'm good for their cash flow.