657
Bankruptcy is lifesaving
(lemmy.ml)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 26 Dec 2023
657 points (95.9% liked)
Memes
45581 readers
1256 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
That is pretty much the right way to do credit. Treat like debit and/or find a way to have 0% interest over a few months time to spread a big cost across multiple months where it becomes affordable.
My concern is the impact on my credit from not paying back in full, even if there's zero interest for an extended period of time. Like paying an appliance in 3 months with no interest versus the full balance before the next billing cycle. I just assume there's a downside to having that convenience aside from them hoping I'll fall behind.
Short term credit balances like appliances paid off over 3 months don't affect your credit for very long. As soon as they are paid off and the balance falls off your credit report your score will rebound. It's not worth stressing about.