Small balance on your credit card can ruin your credit score!
Don’t ignore small balances on your credit cards!
You may procrastinate to pay off the small balance (it may be as low as 10 cents) , but it’s never a good idea.
Sometimes you may receive credit card statement with outstanding balance showing in pennies. You may ask; ‘why would large companies send me an invoice of 6 cents when it costs them 67 cents to mail it in the first place?’ But if you ignore this billings it can affect your credit rating negatively.
It doesn’t make sense, does it? Why would credit card companies will spend more on mail for such a small balance? This is because they have to report your balance no matter how small it is — to credit bureaus.
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