>I've heard the advice from independent financial advisors, not from bankers. These advisors would make no money off the few dollars interest.
OK. But the bank still gets a small slice FROM you, and for no legitimate reason. Why should the "fact" that you can "recover" from a partial payment affect your credit rating at all???
It's the same as the (apparent) fact that you (almost) HAVE TO have a credit card in order to have a good credit rating. Surely a "credit rating" can be derived without having to have/use a credit card!
But since it looks like one cannot, I'd say that the banks have, yet again, taken an "instrument" originally designed to help BOTH sides in a credit situation and 'evolved' it to their own direct gain.
Geez, they've even convinced many employers that they should review an applicnt's credit rating when applying for a job. In 99% of cases that shouldn't matter one whit.
It sure looks to me that banks have turned the "credit score" into a business-building tool. And I believe that's inherently WRONG.
>
>>Why not????? Why should I GIVE my hard-earned money to a bank?
>>
>>Also, isn't there something a bit incestuous (for lack of a better word) here?... the banks have a whole lot to do with what your credit rating looks like and they 'suggest' that you carry a balance from time-to-time just to "prove" you can do it???? Making a few bucks for themselves in the process!!!!
>>Sorry, but I simply neither understand nor accept such "logic".
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