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How does over paying your credit card affect your credit score?
Wiki User
∙ 13y ago
There is no such thing as "over paying" a credit card unless you are paying more than the total amount owed.
If you mean to pay more than the minimum, it is always a good idea to do so since most credit card minimum payments are stretched over many years. (and that's if you don't use the card during that time!) Also, if you continue to pay more than your minimum and your total balance decreases (and all other things are the same) your credit score will improve because you are "paying off your debt" and you are able to handle the debt you have. If you pay more than the minimum but your balance doesn't decrease you score may still improve, but not as much.
Wiki User
∙ 13y ago
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If you reduce your credit limit on a credit card does it affect your credit score?
yes, it will lower your FICO score.
Does closing a cedit card by the consumer affect their credit negatively?
Closing an account will affect your credit score and decrease your score.
Does paying off high balance credit card help your credit?
Yes. Amounts owed accounts for about 30% of your credit score. Ideally your utilization rate should be 20% or less. Paying your credit card balance to 20% or less will improve your credit score.
How does paying by credit card affect your other credit cards?
Generally, paying by credit card does not impact your other credit cards UNLESS you are attempting to get a credit line increase on one of those other credit cards. When you use your credit card, depending on the timing of credit bureau reporting, your credit score may be negatively impacted if you have a balance (whether paid off in full each month or not) that is equal or greater than 30% of the card's credit line. In this case, the score may have been impacted enough where the other credit card company may not grant a credit limit increase.
Does the credit score of an authorized user on your credit card affect your credit score?
No, the credit score of the authorized user will not affect the main cardholders credit score but the authorized users score can be affected as you can see creditcardideas.com/blog/adding-an-authorized-user-to-increase-credit-scores
Will not paying for items that you won on Ebay affect your credit score if anything?
No it won't affect your credit report unless you happened to charge the item to a credit card and not pay for the item once charged to the card.
If you reduce your credit limit on a credit card does it affect your credit score?
yes, it will lower your FICO score.
What actions would improve your credit score?
paying off your credit card bill
Does closing a cedit card by the consumer affect their credit negatively?
Closing an account will affect your credit score and decrease your score.
Does paying off high balance credit card help your credit?
Yes. Amounts owed accounts for about 30% of your credit score. Ideally your utilization rate should be 20% or less. Paying your credit card balance to 20% or less will improve your credit score.
Does a business credit card affect credit score?
All loans and credit cards have an affect on your credit score. Failure to use your credit cards responsibly will reduce your credit score and increase your interest costs.
Can a debit card increase your credit score?
No, because it has nothing to do with keeping or paying off credit.
If your brother authorizes you on a credit card would your poor credit score affect him?
no
How does paying by credit card affect your other credit cards?
Generally, paying by credit card does not impact your other credit cards UNLESS you are attempting to get a credit line increase on one of those other credit cards. When you use your credit card, depending on the timing of credit bureau reporting, your credit score may be negatively impacted if you have a balance (whether paid off in full each month or not) that is equal or greater than 30% of the card's credit line. In this case, the score may have been impacted enough where the other credit card company may not grant a credit limit increase.
Does the credit score of an authorized user on your credit card affect your credit score?
No, the credit score of the authorized user will not affect the main cardholders credit score but the authorized users score can be affected as you can see creditcardideas.com/blog/adding-an-authorized-user-to-increase-credit-scores
When paying off a credit card does it hurt to do a settlement exception?
Yes, they will note on your report that this debt was "settled" This does not affect credit score but will catch the eye of any lenders looking at your report.
Are there any credit cards that won't negatively affect my credit score?
Your best bet would be to close those older credit cards. While it may take some time, your credit score can be improved. However, opening a new credit card, even if it doesn't affect your credit score may not be the best way to go. I am unsure if there is a credit card that wouldn't affect your credit score.
