Yes. There is no benefit to carrying a balance on a credit card. It doesn't help your credit score and will likely hurt your score if your balance exceeds 30% of your available credit. Plus, credit card interest rates are often high, which means you could add a significant amount to your debt by carrying a balance.
Here at CardRatings.com
maxed out credit cards
, we believe credit cards are powerful financial tools that provide not only convenience but also valuable perks and rewards. However, it's crucial to use them wisely to maximize their benefits and avoid paying high interest charges.