To think always clearing a credit card is not typical?

[OneNattyCrab]

I tend to pay my credit card off in full each month so I never pay interest but it’s made me wonder how common that actually is. Given how many people carry credit card balances, it feels like always clearing it might not be the norm.

AIBU?

I think most people use a credit card for convenience rather than to borrow money. I've had them all my life and always paid off every month.
DH gets cards with an interest free period. Whacks the full amount on and invests it, then pays it off when the interest free period ends. I think there's a name for it

If you mean me, it's so the amounts on my credit report are smaller, among other things.

Always cleared it monthly.

I clear mine monthly, , because I’m too tight to give banks any interest payments. 😉

I have both. Air miles card that I clear each month. Use it for shopping and fuel. Big holiday each year is paid with it to get the miles then pay it straight off.

I also have a card I'm paying back which has about 2k on it. 0% interest deal.

Depends. If it charges interest then I assume most will clear but if 0% then enjoy and just pay the minimum payment and clear down the line. Or balance transfer when the time is right.

I’m in awe of people who do but most people I know don’t manage too

Tbh I’ve never had a credit card. Never needed one and when I thought of it last year none would give me one as I’m a student 😂

Yes I clear it. My credit limit only goes up to what I could afford to pay every month. I only use it for the protections really.

This is a very naive and privelidged comment.Not sure why you need a credit card if you can pay it all off every month anyway 🤔 unless it's to improve credit score.

I clear mine monthly. I wouldn't put something on it unless I knew I had the money in another account to pay for it.

The ex and I spiralled into debt (not through extravagant spending, but definitely spending beyond our means). There was more than £20k on cards, and we (well, I) paid a fortune over the years in interest. Clearing it seemed a dream, but once we'd gone out separate ways (for different reasons) I got myself in a position to clear the debt. I shudder at the thought of the amount of interest, but now it no longer dominates my life, I just don't dwell on it.

got a cc at 18 to improve credit score and get consumer protection, have paid in full monthly ever since - now 46. I was also brought up to save for what you want or need, DGF wouldn’t even have a mortgage - he regarded all debt as dangerous. Obv incredibly rare today but still a good principle overall.

I use mine for the points & consumer protection & clear it in full.

This is the thing.

Most MNers don’t need a credit card but still choose to have one (not sure why) but it means that they can afford to clear it every month.

For the majority of the population, credit cards are used for unexpected costs as most incomes only just cover the basic bills and so of course these don’t get cleared every month.

It entirely depends on your income OP.
If you have a decent one, then you should not be using it/clearing it every month.

I retired 3 months ago, and am in a place in my life where I charge everything all month, get 2% back as a reward, and pay it in full every month. But, I well remember the lean years when children were small, bills were big, savings were meager, so I don't judge anyone for having to carry a balance. There were times DH and I needed car repairs, or replacement appliances, or just life smacked us, and that was what credit was for. Most lives have ups and downs, most people have been very, very broke and had times when they were thrilled to have extra!

Clear it every month. I do have another card with a balance I'm paying down but its 0% interest. I aim to pay it off before the 0% offer expires.

Got a Coop members' credit card with Coop Bank for the cash back. Pay it off each month. Get about £40-50 back pa now but of course a lot more when I had children at home and spent ( a lot) more!

I buy big things on it and pay it off over time. .i think thats pretty standard.

Paid off in full every month.

I clear mine every month. I have it because it's safer online than using a debit card.

Well you obviously won't get a typical response asking on MN. People are aghast or faux ignorant about why everyone doesn't clear it.
I have no idea what my friends/peers/family do as we don't discuss such things.

AI suggest about 50% of people pay it off in full each month, but there are many, many ways to massage the stats.

yeah just got the one active credit card Tesco which I use for points and pay it off each month on pay day.

I just transfer it to another interest free deal when the interest free-period ends. Done that that for the last 10yrs. Never paid interest on it.

you can get refunds a lot more easily. Creditors will get the money back if its needed.