Many people think they are doing okay financially if they are able to make the minimum payments on their credit accounts. In most cases, the minimum payment barely covers the interest charges and they are not making any headway on paying off the principal.
The three main credit bureaus have now added more data to the information in your credit reports. In the past, your credit file displayed your monthly balance, credit limit and whether you failed to make at least the minimum payment.
Now it shows whether you pay your balance in full each month (Transactors) or carry a balance from month to month (Revolvers). The data shows whehter you rack up interest charges by carrying a balance and paying interest charges from month to month.
The data will not affect your credit score at this time, but it could in the future. If they do start to take this into consideration for your credit score, it could also affect your insurance premiums and other areas of your financial life.