Corporate Health of Sony, Nintendo and MS

[DonFerrari]

SpokenTruth said:

DonFerrari said:

SpokenTruth said:

This is correct regarding consumer credit.  Showing you have a proven record of paying off debts will increase the likelihood of being approved for a loan.  But you do not have to currently have debt, only the history of paying it off.

In face, the best practice is to still pay it off immediately and not carry over a balance.  Utilize up to 30% of your total credit availability (across all credit accounts) and pay it all off after the statement is billed but before interest is charged (usually called the grace period).  This maximizes your overall credit health. In this way, you don't carry over any debt yet get the full benefits of it.

You don't have to have any debt at all when you apply but, as you noted, if you don't have much of a credit and debt history, even though you have the money and the finances to easily afford the loan, they will be reluctant to provide it.

For some companies your credit rating would be better if you were always late and paying good extra interest, but kept paying.

Sorry but that's a myth.  I was taught the same thing growing up but's BS.  It came about because people believed it shows you are paying but so too does paying without carrying over a balance.  But any carried over balance under 30% credit utilization has the exact same credit impact as paying the balance every month.  The only difference in now you owe more money.

And creditors love to receive interests.

It may have nothing to do with it, but my account debt limit was continually stretched but only when my debt grow and I was paying more interest