Shouldn't it be the best plan to pay off ones credit card balance each month?

Question

Shouldn't it be the best plan to pay off ones credit card balance each month?

Answer 1

You're totally right! That ensures you never rack up too much debt and you're living within your means. It is good to have a credit card though - it will help you establish credit history if you ever need to borrow money - for a mortgage or personal loan, etc. Being responsible with it by paying it off will keep your credit score in a great position.  

Answer 2

Not really, if you are attempting to up your credit score. The credit agencies will see you as a person who uses your credit card as a debit card. It can't hurt to pay of your monthly balance, but it also will not help your credit score raise.

Answer 3

The best plan is not to have a credit card.  

Answer 4

Sure, makes all the sense in the world.  This assumes of course that you haven't put so much on the card that you can't pay it off.  If you did, and it wasn't a true emergency, then you're spending too much.