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Will having a credit card with a high limit affect your ability to get a loan?
Wiki User
∙ 12y ago
if you obtain a credit card with a high limit it will not affect your credit as long as the card is in good standings .. however if the card is maxed out it could affect your credit score wich will intern stop you from getting a loan. although it may not stop you from getting your loan but it will affect your interst rates
Wiki User
∙ 12y ago
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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 a credit card with a high credit limit adversely affect your credit score?
It will depend on the way you use your credit card. Having and using a credit card wisely can be beneficial to your credit rating. Financial experts recommend keeping your account balances less than 50% of your available credit. It shows that you have the ability to pay back your debt. However, if you're constantly applying for new credit cards, it can hurt your rating.
If you reduce your credit limit on a credit card does it affect your credit score?
yes, it will lower your FICO score.
What is the credit limit of credit card?
A credit limit is the maximum amount of credit that a lender will extend to a debtor for a particular tradeline. For example, it is the most that a credit card company will allow a card holder to take out at once on a card.This limit is based on a variety of factors ranging from an individual's ability to make interest payments, an organization's cashflow and/or ability to repay the credit card debt.
How does the ratio of credit limit to your balance affect your credit?
I know this much: Your balance-to-limit ratio is 30% of the criteria that credit bureaus use to generate your credit score. That's a large chunk.
What factors limit the credit creating ability of commercial banks?
factors limit the credit creating ability of commercial bank
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 a credit card with a high credit limit adversely affect your credit score?
It will depend on the way you use your credit card. Having and using a credit card wisely can be beneficial to your credit rating. Financial experts recommend keeping your account balances less than 50% of your available credit. It shows that you have the ability to pay back your debt. However, if you're constantly applying for new credit cards, it can hurt your rating.
If you reduce your credit limit on a credit card does it affect your credit score?
yes, it will lower your FICO score.
What is the credit limit of credit card?
A credit limit is the maximum amount of credit that a lender will extend to a debtor for a particular tradeline. For example, it is the most that a credit card company will allow a card holder to take out at once on a card.This limit is based on a variety of factors ranging from an individual's ability to make interest payments, an organization's cashflow and/or ability to repay the credit card debt.
How does the ratio of credit limit to your balance affect your credit?
I know this much: Your balance-to-limit ratio is 30% of the criteria that credit bureaus use to generate your credit score. That's a large chunk.
Will repeated declined transactions on a credit card affect your credit rating or affect how a bank views you as a loan candidate?
Declined transactions on a credit card would seem to indicate that you have exceeded your credit limit. Exceeding your credit limit will reduce your credit score. This means that a bank would take a very close look when you apply for more credit.
If the amount Kelsey owes is close to her credit limit it will negatively affect her credit score true or false?
true
Does having a class E felony result in a loss of passport privileges?
(in the US) No it will not affect your ability to apply for and possess one, although it may limit your ability to enter other countries who may not issue you a visa to enter their country.
Will a private student loan that is currently deferred negatively affect your credit score?
It will appear as an obligation and as such limit the amount that will be considered for total monthly payment. No I don't think it will affect your your credit score.
What is a danger to having a high credit limit?
we are afraid because we have mind to think it will not be stole or it will stole
What are the benefits of having a personal line of credit?
-revolving credit -a credit limit -monthly statement -enable cash advances -minimum payment required -insurance offered
