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Yes. Every time you apply for a credit card it shows on your credit report...having a lot of these is not in your favor..
The bankers I've talked to all recommend having two or three cards at a time. Too few, and you are seen as not having much experience managing credit. Too many, and you are seen as being risky/irresponsible.
One loan officer recommended that I try getting two cards; use one for gas and groceries and the other for other purchases.
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∙ 8y ago
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Does canceling a new credit card hurt your credit score?
Canceling your card can hurt your credit score..... SORRY!! You should not cancel even if you intend not to use it. One credit secret is the more available credit not in use the better you look. I.E. percentage of revolving debt compared to available-it helps reduce that and increase your number.
Where can a person find a credit card payment calculator?
There are many credit card payment calculators that can be found online. Contacting your credit card company and asking for advice might be a better idea as they have more experience and benefit from their clients having a healthy credit score.
What are the disadvantages of a poor credit card?
Having a credit card is not always an easy job. There are advantages, but also disadvantages. One of the disadvantage is to have a poor credit card record which means that the credit card is being overused. With the poor credit card record, the applicant would find it difficult to approach the amount, because it would be more expensive than normal.
Is having more then 1 credit card good?
Yes, as long as you use it wisely. Don't carry a balance of more than 20% of the credit limit. This will help to improve your credit score.
Will credit card increase my score?
That depends on the consumer using the credit card. Paying on time and keeping low balances will keep your good credit standing ...good. Not paying on time and having the balance close to the credit limit will decrease your credit score dramatically Having a lot of credit cards is not good either because the risk of possibly being in debt is high. Also if you apply for a new credit card it will reduce your credit score because it's consider a new loan with no credit history, as the credit card gets older and more established the score will go back up.
Does canceling a new credit card hurt your credit score?
Canceling your card can hurt your credit score..... SORRY!! You should not cancel even if you intend not to use it. One credit secret is the more available credit not in use the better you look. I.E. percentage of revolving debt compared to available-it helps reduce that and increase your number.
What are the advantages of having a business credit card?
Well, there are many advantages to having business credit cards which includes, lower interest rates, and rewards program. Most credit card companies have different prices when it comes to the price for a business credit card. However, it would cost around one hundred dollars, more or less to apply for a business credit card.
If you already have 1 car repossessed does having a 2nd repossessed hurt your credit even more?
yes
Where can a person find a credit card payment calculator?
There are many credit card payment calculators that can be found online. Contacting your credit card company and asking for advice might be a better idea as they have more experience and benefit from their clients having a healthy credit score.
What are the disadvantages of a poor credit card?
Having a credit card is not always an easy job. There are advantages, but also disadvantages. One of the disadvantage is to have a poor credit card record which means that the credit card is being overused. With the poor credit card record, the applicant would find it difficult to approach the amount, because it would be more expensive than normal.
Is having more then 1 credit card good?
Yes, as long as you use it wisely. Don't carry a balance of more than 20% of the credit limit. This will help to improve your credit score.
Can I get a HDFC corporate credit card if I own a small business?
It is recommended that you call the credit card companies available in your area to inquire about having the HDFC corporate credit card. They will be able to answer your questions and give you a more transparent look at company policies and terms of use.
Is credit card specific noun?
No, credit card is not a specific noun. A store credit card or bank credit card are specific; Macy's Card or Master Card are more specific nouns.
What is more credit damaging Bankruptcy or settling a credit card debt?
Bankruptcy would be more credit damaging than just having large credit card debt, mainly because it stays on your credit report for longer. One of the biggest disadvantages of filing for bankruptcy is the lasting effect it has on your credit report- typically staying on your report for 7-10 years. With credit card debt there are more flexible options and obviously when you pay the debt and does not stay on your report for as long.
Will credit card increase my score?
That depends on the consumer using the credit card. Paying on time and keeping low balances will keep your good credit standing ...good. Not paying on time and having the balance close to the credit limit will decrease your credit score dramatically Having a lot of credit cards is not good either because the risk of possibly being in debt is high. Also if you apply for a new credit card it will reduce your credit score because it's consider a new loan with no credit history, as the credit card gets older and more established the score will go back up.
Where would I get information on applying for a platinum credit card?
A platinum credit card is a credit card which usually has a higher than usual credit limit. Also it has more advantages than a standard credit card or a gold credit card.
Does having more than one credit card improve your credit score or hurt it?
It can improve it since having a high percentage of credit limit can lower the score. Better to split the expenses and use about half of each cards limit and then pay each online ontime in full to improve the score did u know that using a low percentage of credit limit can lower your score? Aim for 50% and pay it all on time.
