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Are you a Revolver or a Transactor?

Credit bureaus are starting to take a closer look at how consumers use their credit cards, and this could mean problems for consumers who don’t pay off their cards in full each month.

All three major credit bureaus have started adding “revolver” or “transactor” to a consumer’s credit report. “Revolver” is for someone who carries a balance each month, always racking up interest charges. “Transactor” is someone who purchases, but pays off the balance in full each month.

Clearly, the implication is that transactors are less likely to default on debt than revolvers.

Read more here: http://www.post-gazette.com/news/nation/2013/11/01/Are-you-a-transactor-or-revolver/stories/201311010080

If you are a revolver or someone who carries a balance on your credit cards each month, contact a qualified debt settlement attorney who can help you eliminate interest charges, reduce your debt, and save you money in the long run. Then, you can be a transactor.