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No not really, but if you have high utilization on that card ie. carry a high balance than it's kind of frowned upon. Keep your utilization to around 35% unless your one of those people who P.I.F. every month.
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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 accepting a pre-approved credit card lower your credit score?
Generally, anything you do that takes on more debt will lower your credit score.
Does your credit report get worse if you max out a credit card?
Your credit score gets lower.
How can you lower your interest rate on credit card?
Your credit score plays a huge role in determining the interest rate that credit card companies are willing to offer you. Generally, the better your credit score, the lower the interest rate you can expect to pay. You may want to get a copy of your credit score, and see if there are any discrepancies or outstanding debts that you didn't know about. If you can fix these problems, your credit score will generally improve over time, and then you can reapply for a credit card with a lower interest rate, or call your credit card company and see if they can give you a better deal with your improved credit score.
Are the odds great if you don't have a great score but have paid this particular card always on time that they won't lower your credit limit?
If you pay credit card 1 on time and are never late, but your overall credit score is poor, are chances good that they won't lower the credit limit on credit card 1
If you reduce your credit limit on a credit card does it affect your credit score?
yes, it will lower your FICO score.
Does accepting a pre-approved credit card lower your credit score?
Generally, anything you do that takes on more debt will lower your credit score.
Does your credit report get worse if you max out a credit card?
Your credit score gets lower.
How can you lower your interest rate on credit card?
Your credit score plays a huge role in determining the interest rate that credit card companies are willing to offer you. Generally, the better your credit score, the lower the interest rate you can expect to pay. You may want to get a copy of your credit score, and see if there are any discrepancies or outstanding debts that you didn't know about. If you can fix these problems, your credit score will generally improve over time, and then you can reapply for a credit card with a lower interest rate, or call your credit card company and see if they can give you a better deal with your improved credit score.
Are the odds great if you don't have a great score but have paid this particular card always on time that they won't lower your credit limit?
If you pay credit card 1 on time and are never late, but your overall credit score is poor, are chances good that they won't lower the credit limit on credit card 1
What are the ramifications of a poor credit score?
Having a poor credit score impacts one's ability to get a credit card and even a mortgage. If one is still able to get a credit card, the interest rate is likely to be higher and the credit limit lower.
does using my credit card improve my credit score or damage my credit score?
Using your credit card can go both ways! If you choose not to pay your bills on time, you will recieve bad credit. If you pay all your bills on time, I'm certain you will have a squeaky clean credit!
Can adding a second card holder to your credit account affect your credit score?
Not if you are responsible for all of the loans or credit card payments on your credit report. But, if the second card holder is responsible for any payments on your cards, and doesn't make them, then it can cause your score to lower.
Does my corporate card affect my credit score?
Yes. Any credit card that you associate with yourself will effect your credit. if you do well with the card then you will improve your credit. it is best to always be careful when using any credit card.
Is spending a few hundred dollars on a credit card enough to cause a lower credit score?
As long as make the correct payments it should actually increase your credit score.
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.
How may a credit card negatively impact an individual credit history?
A credit card may negatively impact a credit history in a few ways. 1. Paying your credit card late will hurt your credit. 2. Keeping a high balance on your credit cards will lower a credit score. 3. Going over the credit limit will negatively impact your credit score.
