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What else can I help you with?
What factors can lower your credit score?
Factors that can lower your credit score include late payments, high credit card balances, applying for multiple new credit accounts, and having a short credit history.
How often do credit card balances get reported to your credit report?
Monthly
Is it a good idea to transfer the balance of my credit card to another credit card?
If you can move the balance to a lower interest rate card then yes it is a great idea. If the rate isn't lower though, transferring your credit card balance to a new card is pointless. It's generally not a good idea to transfer balances between credit cards. Fool.com has a some great tips on balance transfers.
How to consolidate credit card debt?
For credit card holders, a good way to consolidate debts is by transferring your outstanding balances to your card that holds the lowest interest rate. That way, your monthly payments will be significantly lower. Calculate your debts and see if they can be consolidated with your low interest card. Move from one card to the next until you find one that can fit all of your balances.
Which credit card companies allow you to transfer balances from another person's credit card?
I believe Citicard allows this
How do you balance transfer from one credit card to another?
In order to transfer your balance from one credit card to another, it is best to first review all of your credit cards, their limits, how much you owe, and various benefits of each card. Then, transfer higher rate balances to cards with lower rates.
Can a credit card company raise the rate on existing balances if you exercise your opt out option?
If it is allowed in your credit card contract.
Can paying off credit card balances hurt your credit?
paying off no, closing the account yes. 6,000 owed/10,000 credit limit =60% of credit used2,000 owed/3,000 credit limit=66% of credit used=lower fico
Can the secondary card holder on a credit card account transfer credit card balances to a new card?
No unless the primary gives the secondary permission too
What is the purpose of 0 interest credit card transfer balances?
Zero interest credit card transfer balances allows a person to transfer the outstanding debt (as long as it is within the limit) to another credit card without incuring any new interest.
How can one transfer a credit balance?
Typically, people consider transferring high interest rate balances to a credit card that offers a lower interest rate. The best way to accomplish this is to contact the lower rate credit card company and set up the transfer (this is a relatively quick process). This company will ask for the higher rate credit balance and assist you in transferring. After you get a notice that the transfer is complete, you can close your higher rate credit card.
What is a consolidation credit card?
A consolidation credit card is a credit card someone will pick to use as their sole credit card for everyday expenses which typically has the lowest interest rate or the best benefits such as cash back or miles rewards programs. Also, if someone has other credit cards with higher interest rates, they can often transfer balances and "consolidate" them onto a single credit card with a lower interest rate, therefore lowering their monthly payment, costs and in essence, making the card a "consolidation credit card".
