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Can paying off credit card balances hurt your credit?


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Answered 2007-07-06 03:29:43

paying off no, closing the account yes. 6,000 owed/10,000 credit limit =60% of credit used
2,000 owed/3,000 credit limit=66% of credit used=lower fico

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How can the frequency of paying your credit card bill hurt you?

The frequency of paying your credit card bill can hurt you in a number of ways. If you keep missing bills, pay late, or default, other lenders will not look upon you favorably, getting you worse rates in the future.


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NO! Not if you have paid the credit off before you get another one. Or if you are paying one credit card off with another, you can only do that so much befor it will hurt your cerdit.


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Does maintaining a zero balance on your credit card hurt your credit score?

If you are charging and paying it off each month then it helps. If you never use the card then it really doesn't do much either way.


Will paying off a debt in collections hurt your credit?

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How may a credit card negatively impact an individual credit history?

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Can paying off your credit card balance in full every month hurt your credit?

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