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Does cancelling a credit card you haven't used in a while lower your credit rating?
Wiki User
∙ 17y ago
The length you've had a card does help your credit score. That's why they say to keep the old ones. Plus your ratio of available credit to your balance is important.
Wiki User
∙ 17y ago
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What are the dangers of having a poor credit rating one is getting a loan?
There are very few actual dangers, however inconveniences of having a poor credit rating when one is applying for a loan are that the lower one's credit rating is, the less chance one has of gaining the loan one wants. Another inconvenience is that if one has a poor credit rating, one does not attract the more favorable interest rates that someone with a good credit rating will attract, and the amount of credit one is offered may well be a lot lower than a person with a favorable credit rating.
Where are the best credit card rates in the nation?
Credit card rates are not based on geographical location,but are based on individuals credit rating. The higher the rating, the better(lower) the interest rate.
Do you need to have a good credit rating to get instant loans?
In today's economy, you need good credit for just about any loan and an instant loan is no exception. Also, the higher your credit rating, the lower your interest rate, which is an important factor in considering a loan.
Had a loan for six years but you had 17 payments over 30 days How does this affect your credit?
It will lower your credit rating as finance companies will view you as person slow to pay.
Why are there two mortgage rates?
Often, a mortgage rate depends on the person's credit. If the credit rating is good, then they usually get a lower interest rate. But if their credit is not good or if they have not yet established a credit history, then they often pay a higher rate.
What is HSBC auto finance interest cost?
It depends on your credit rating. If you have an excellent credit rating then you will be able to get a low rate from HSBC auto finance. If you have a lower credit rating your interest rate will be higher.
What are the dangers of having a poor credit rating one is getting a loan?
There are very few actual dangers, however inconveniences of having a poor credit rating when one is applying for a loan are that the lower one's credit rating is, the less chance one has of gaining the loan one wants. Another inconvenience is that if one has a poor credit rating, one does not attract the more favorable interest rates that someone with a good credit rating will attract, and the amount of credit one is offered may well be a lot lower than a person with a favorable credit rating.
Where are the best credit card rates in the nation?
Credit card rates are not based on geographical location,but are based on individuals credit rating. The higher the rating, the better(lower) the interest rate.
What is the average interest rate on personal loans?
This all depends on how good your credit rating is. The better your credit rating, the lower the interest rates. https://www.lendingtree.com
When buying a house for the first time does it lower your credit?
It lowers your capacity to avail credit. Effects your credit rating when you miss out on repayments.
How can you get your car insurance to ignore your bad credit and lower your rates?
A bad credit rating will most always affect your car insurance rates. This is what car insurers call 'being at risk' - The best 'fix' to get lower car insurance rate is to improve your credit rating.
If I use a tax attorney to lower the amount I owe to the Irs does this result in a bad rating on my credit or are there any other adverse effects?
Your credit rating is affected by not paying your debts.Anything you can do to lower your debt raises your credit rating,so reducing a debt to the IRS would help your credit rating a lot.So long as the lawyer doesn't cost more than he saves you there's no downside,assuming he is able to do what you hire to do.
Do you need to have a good credit rating to get instant loans?
In today's economy, you need good credit for just about any loan and an instant loan is no exception. Also, the higher your credit rating, the lower your interest rate, which is an important factor in considering a loan.
Does IVA affect credit rating?
How will an IVA IMPACT my credit rating? If you get an individual voluntary arrangement, it'll be recorded on your credit report. Your credit score will go down as a result, since this number is based on information in your report. A lower score means you may struggle to borrow money.
Where can I apply for the lowest interest credit cards?
The lowest interest rates on a credit card are made when the person has a good credit rating. The higher the limit, the lower the interest rate also.
Had a loan for six years but you had 17 payments over 30 days How does this affect your credit?
It will lower your credit rating as finance companies will view you as person slow to pay.
Why are there two mortgage rates?
Often, a mortgage rate depends on the person's credit. If the credit rating is good, then they usually get a lower interest rate. But if their credit is not good or if they have not yet established a credit history, then they often pay a higher rate.
