Does Carrying a Credit Card Balance Help?

Loan

Get up to $500 instantly and repay over time.

Advance

Make payday come early with up to $300 right now.

Card

Unlock a $400 or $800 credit limit in minutes.

Learn

Mission

Financial Relief Plan

Loan

Get up to $500 instantly and repay over time.

Advance

Make payday come early with up to $300 right now.

Card

Unlock a $400 or $800 credit limit in minutes.

Learn

Mission

Financial Relief Plan

Money in minutes

Apply now

Money in minutes

Apply now

Money in minutes

Apply now

Recent episodes

Credit Corner

Small Print Made Simple

CEO Hot Seat

Meet Possible Members

Series

Recent episodes

Credit Corner

Small Print Made Simple

CEO Hot Seat

Meet Possible Members

Series

Recent episodes

Credit Corner

Small Print Made Simple

CEO Hot Seat

Meet Possible Members

Credit Corner

Play Video

0:27

Play Video

0:27

Play Video

0:27

Does Carrying a Credit Card Balance Help?

There’s a common myth out there that keeping a balance on your credit card helps your credit history. Possible’s Chief Credit Officer, Ellen Falbo, sets the record straight.

If you’re able to pay off your credit card in full, Ellen says you absolutely should. Carrying a balance doesn’t improve your credit history—instead, it just racks up interest and makes your financial life more expensive than it needs to be.

The bottom line? Don’t pay more than you have to. Pay off your card when you can and avoid the myth that holding debt helps.

...more

There’s a common myth out there that keeping a balance on your credit card helps your credit history. Possible’s Chief Credit Officer, Ellen Falbo, sets the record straight.

The bottom line? Don’t pay more than you have to. Pay off your card when you can and avoid the myth that holding debt helps.

...more

There’s a common myth out there that keeping a balance on your credit card helps your credit history. Possible’s Chief Credit Officer, Ellen Falbo, sets the record straight.

The bottom line? Don’t pay more than you have to. Pay off your card when you can and avoid the myth that holding debt helps.

...more

Transcription

How to Use Credit Cards the Right Way

Credit cards aren’t the enemy—used wisely, they’re one of the safest tools in your wallet. Our Chief Credit Officer, Ellen Falbo, explains how.

1:30

1:30

How to Use Credit Cards the Right Way

Credit cards aren’t the enemy—used wisely, they’re one of the safest tools in your wallet. Our Chief Credit Officer, Ellen Falbo, explains how.

How to Use Credit Cards the Right Way

Credit cards aren’t the enemy—used wisely, they’re one of the safest tools in your wallet. Our Chief Credit Officer, Ellen Falbo, explains how.

1:30

What to Know About Debt Relief Companies

Debt relief companies can be expensive. Ellen shares a smarter way to manage your debt.

1:05

1:05

What to Know About Debt Relief Companies

Debt relief companies can be expensive. Ellen shares a smarter way to manage your debt.

What to Know About Debt Relief Companies

Debt relief companies can be expensive. Ellen shares a smarter way to manage your debt.

1:05

How to Save for Holiday Spending Without Going Into Debt

The smartest way to give during the holidays? Save ahead—before you borrow. Our Chief Credit Officer, Ellen Falbo, explains how to budget for holiday gifting.

1:14

1:14

How to Save for Holiday Spending Without Going Into Debt

The smartest way to give during the holidays? Save ahead—before you borrow. Our Chief Credit Officer, Ellen Falbo, explains how to budget for holiday gifting.

How to Save for Holiday Spending Without Going Into Debt

The smartest way to give during the holidays? Save ahead—before you borrow. Our Chief Credit Officer, Ellen Falbo, explains how to budget for holiday gifting.

1:14

Smart Strategies for Paying Down Debt on a Budget

Paying down debt and saving on a fixed income is possible with the right plan in place. Chief Credit Officer Ellen Falbo explains how to do it.

2:36

2:36

Smart Strategies for Paying Down Debt on a Budget

Paying down debt and saving on a fixed income is possible with the right plan in place. Chief Credit Officer Ellen Falbo explains how to do it.

Smart Strategies for Paying Down Debt on a Budget

Paying down debt and saving on a fixed income is possible with the right plan in place. Chief Credit Officer Ellen Falbo explains how to do it.

2:36

Simple Ways to Build Credit Without Taking on Debt

Even if you’re credit invisible, there are plenty of ways to start building your credit history. Chief Credit Officer Ellen Falbo explains how.

0:50

0:50

Simple Ways to Build Credit Without Taking on Debt

Even if you’re credit invisible, there are plenty of ways to start building your credit history. Chief Credit Officer Ellen Falbo explains how.

Simple Ways to Build Credit Without Taking on Debt

Even if you’re credit invisible, there are plenty of ways to start building your credit history. Chief Credit Officer Ellen Falbo explains how.

0:50

Why Reading the Fine Print Could Save You Big Money

The fine print can make all the difference—Chief Credit Officer Ellen Falbo shows why it’s worth a closer look.

0:44

0:44

Why Reading the Fine Print Could Save You Big Money

The fine print can make all the difference—Chief Credit Officer Ellen Falbo shows why it’s worth a closer look.

Why Reading the Fine Print Could Save You Big Money

The fine print can make all the difference—Chief Credit Officer Ellen Falbo shows why it’s worth a closer look.

0:44

Why You Are Bigger Than Your Credit Score

A credit score is just one small part of your financial story, not a reflection of who you are. What matters is building the future you want, starting today.

1:05

1:05

Why You Are Bigger Than Your Credit Score

A credit score is just one small part of your financial story, not a reflection of who you are. What matters is building the future you want, starting today.

Why You Are Bigger Than Your Credit Score

A credit score is just one small part of your financial story, not a reflection of who you are. What matters is building the future you want, starting today.

1:05

What to Know About Starting Your Credit Journey

Starting your credit journey is a big milestone, but it’s easier to get on track than you think.

1:05

1:05

What to Know About Starting Your Credit Journey

Starting your credit journey is a big milestone, but it’s easier to get on track than you think.

What to Know About Starting Your Credit Journey

Starting your credit journey is a big milestone, but it’s easier to get on track than you think.

1:05

Three Smart Moves to Start Building Your Credit History

Building a strong credit history takes time—but a few smart moves now can set you up for future success.

0:54

0:54

Three Smart Moves to Start Building Your Credit History

Building a strong credit history takes time—but a few smart moves now can set you up for future success.

Three Smart Moves to Start Building Your Credit History

Building a strong credit history takes time—but a few smart moves now can set you up for future success.

0:54

Why Not Everyone Has a Credit Score—and How to Get One

Not everyone starts with a credit score—but building one is easier than you might think.

0:34

0:34

Why Not Everyone Has a Credit Score—and How to Get One

Not everyone starts with a credit score—but building one is easier than you might think.

Why Not Everyone Has a Credit Score—and How to Get One

Not everyone starts with a credit score—but building one is easier than you might think.

0:34

What to Do When You Can’t Afford Student Loans

Ignoring your student loans won’t make them disappear—Chief Credit Officer Ellen Falbo explains what to do instead.

0:33

0:33

What to Do When You Can’t Afford Student Loans

Ignoring your student loans won’t make them disappear—Chief Credit Officer Ellen Falbo explains what to do instead.

What to Do When You Can’t Afford Student Loans

Ignoring your student loans won’t make them disappear—Chief Credit Officer Ellen Falbo explains what to do instead.

0:33

Credit Cards Aren’t a Substitute for a Savings Account

Your dungeon master might be great at campaigns—but not at giving savings advice. Chief Credit Officer Ellen Falbo breaks it down.

1:02

1:02

Credit Cards Aren’t a Substitute for a Savings Account

Your dungeon master might be great at campaigns—but not at giving savings advice. Chief Credit Officer Ellen Falbo breaks it down.

Credit Cards Aren’t a Substitute for a Savings Account

Your dungeon master might be great at campaigns—but not at giving savings advice. Chief Credit Officer Ellen Falbo breaks it down.

1:02

Paying Interest to Build Credit History? Here’s a Better Way

Letting your credit card rack up interest won’t boost your credit—it just drains your wallet. Chief Credit Officer Ellen Falbo explains.

0:45

0:45

Paying Interest to Build Credit History? Here’s a Better Way

Letting your credit card rack up interest won’t boost your credit—it just drains your wallet. Chief Credit Officer Ellen Falbo explains.

Paying Interest to Build Credit History? Here’s a Better Way

Letting your credit card rack up interest won’t boost your credit—it just drains your wallet. Chief Credit Officer Ellen Falbo explains.

0:45

Can You Borrow a Down Payment? Reasons Why That’s a No

No, you can’t use loans for a down payment on a house. Chief Credit Officer Ellen Falbo tells you why.

0:48

0:48

Can You Borrow a Down Payment? Reasons Why That’s a No

No, you can’t use loans for a down payment on a house. Chief Credit Officer Ellen Falbo tells you why.

Can You Borrow a Down Payment? Reasons Why That’s a No

No, you can’t use loans for a down payment on a house. Chief Credit Officer Ellen Falbo tells you why.

0:48

Should You Skip Your 401(k) Contributions?

Skipping your 401(k) means leaving free money on the table—here’s why Possible’s Chief Credit Officer, Ellen Falbo, says don’t do it.

1:21

1:21

Should You Skip Your 401(k) Contributions?

Skipping your 401(k) means leaving free money on the table—here’s why Possible’s Chief Credit Officer, Ellen Falbo, says don’t do it.

Should You Skip Your 401(k) Contributions?

Skipping your 401(k) means leaving free money on the table—here’s why Possible’s Chief Credit Officer, Ellen Falbo, says don’t do it.

1:21

You Are Not Your Credit Score

A low credit score doesn’t define you—and it doesn’t get to decide your future either. Chief Credit Officer, Ellen Falbo, breaks it down in this episode of the Credit Corner.

1:05

1:05

You Are Not Your Credit Score

A low credit score doesn’t define you—and it doesn’t get to decide your future either. Chief Credit Officer, Ellen Falbo, breaks it down in this episode of the Credit Corner.

You Are Not Your Credit Score

A low credit score doesn’t define you—and it doesn’t get to decide your future either. Chief Credit Officer, Ellen Falbo, breaks it down in this episode of the Credit Corner.

1:05

4 Easy Ways to Check In on Your Money Right Now

Quick financial check-ins today can set you up for a stronger tomorrow. Here are four things you can do to stay on top of your money.

1:29

1:29

4 Easy Ways to Check In on Your Money Right Now

Quick financial check-ins today can set you up for a stronger tomorrow. Here are four things you can do to stay on top of your money.

4 Easy Ways to Check In on Your Money Right Now

Quick financial check-ins today can set you up for a stronger tomorrow. Here are four things you can do to stay on top of your money.

1:29

All products are subject to eligibility and approval by Possible Financial Inc. dba “Possible Finance” and “Possible” or its banking partner Coastal Community Bank. Eligibility for a product is not guaranteed.

For Loans, Possible Finance has direct lending licenses in CA, ID, LA, NV, OH, OR, UT and WA. Idaho Residents: License #RRL-10073; Louisiana Residents: License #1697898; Nevada License #CDTH11200; Ohio Residents: License #ST.760161.000; Washington License #530-CC/SL-111888. California Residents: Possible Finance is licensed by the Department of Financial Protection and Innovation, pursuant to the California Deferred Deposit Transaction Law, License #10DBO-105848.

Loans in AL, AR, DE, FL, IA, IN, KS, KY, MI, MO, MS, NC, OK, RI, SC, TN, TX, VA and WY are made by Coastal Community Bank, and serviced by Possible Finance. Texas Residents: Possible Finance is a licensed Credit Access Business; License #1800061850-160823.

*Funding usually within minutes but may take up to 5 days.

^Loan amounts & structure vary by state.

°Possible uses fee and payday loan usage information from the Consumer Financial Protection Bureau, Center for Responsible Lending, Pew Charitable Trusts, and the Consumer Federation of America to arrive at our Fees Saved Calculation. Savings based on the maximum fees Possible could have charged customers over the typical payday loan term, including late fees, insufficient funds fees, etc. Results will vary.

¨See possiblefinance.com/samplepaymentschedules for rates & terms examples.

ˇReal customer compensated. Results may vary.

˘Possible Loans offer up to 29 days of payment flexibility from original due date.

Possible Card is issued by Coastal Community Bank and serviced by Possible Finance, pursuant to its license with Mastercard International Incorporated. Arizona Residents: Licenses #CA-1033558, #CA-1041621, and #CA-1041622; California Residents: License #10595-99; Hawaii Residents: License #COLAX-1238-0; Illinois Residents: License #17.022449; Louisiana Residents: Registration #446766611; Maine Residents: License #SLM15758; Maryland Residents: License #1697898; Massachusetts Residents: Registration #LS1697898; Nebraska Residents: License #1697898; New Jersey: Registration #19095; North Dakota Residents: License #MB104104; Oregon Residents: License #1697898; Pennsylvania Residents: Registration #95262; South Dakota Residents: License #1697898.MYL; Vermont Residents: License #LSO-1697898; Washington Residents: License #6041888588-001-0001: West Virginia Residents: Registration #2417-3349.

All trademarks and brand names are property of their respective owners. Use of them does not imply any affiliation with or endorsement by them.

If you have questions or concerns, please contact the Support Team at support.possiblefinance.com

Mailing Address: Possible Finance, PO Box 98686, Las Vegas, NV 89193

*Funding usually within minutes but may take up to 5 days.

^Loan amounts & structure vary by state.

¨See possiblefinance.com/samplepaymentschedules for rates & terms examples.

ˇReal customer compensated. Results may vary.

˘Possible Loans offer up to 29 days of payment flexibility from original due date.

All trademarks and brand names are property of their respective owners. Use of them does not imply any affiliation with or endorsement by them.

If you have questions or concerns, please contact the Support Team at support.possiblefinance.com

Mailing Address: Possible Finance, PO Box 98686, Las Vegas, NV 89193

*Funding usually within minutes but may take up to 5 days.

^Loan amounts & structure vary by state.

¨See possiblefinance.com/samplepaymentschedules for rates & terms examples.

ˇReal customer compensated. Results may vary.

˘Possible Loans offer up to 29 days of payment flexibility from original due date.

All trademarks and brand names are property of their respective owners. Use of them does not imply any affiliation with or endorsement by them.

If you have questions or concerns, please contact the Support Team at support.possiblefinance.com

Mailing Address: Possible Finance, PO Box 98686, Las Vegas, NV 89193