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Are you better off having no credit cards or having multiple credit cards with no balance?
Its best to have only a few credit cards to no credit cards. Say you have 4 credit cards with a 500 limit on each and a zero balance, There is the potential for you to charge 2000.00 whenever you want. When you have so much available credit, Lenders are scared to loan to you, Therefore hurting your credit. Best bet: If you dnt use 'em, Lose 'em.
What else can I help you with?
Does having multiple credit cards hurt your credit score?
Having the cards does not. Having large debts on them does.
Is having no credit better than having bad credit?
Having no credit is generally better than having bad credit because it means you have not yet established a credit history, whereas bad credit indicates a history of not managing credit responsibly.
How does having multiple credit cards affect your credit score?
Having multiple credit cards can affect your credit score in both positive and negative ways. On one hand, having multiple credit cards can increase your overall available credit, which can lower your credit utilization ratio and potentially improve your credit score. However, having multiple credit cards also means more opportunities to accumulate debt, which can negatively impact your credit score if you carry high balances or miss payments. It's important to manage your credit cards responsibly to maintain a good credit score.
Is having multiple open credit cards with no balance bad or good for your credit rating?
It's wise to use your credit cards ONLY if you have cash in your bank account. Purchase something on each one, then when the statement comes pay it in full.
Should I carry a balance on my Credit Card to improve my Fico score. I'll be applying for a car loan and I wondered if having a balance on my credit card make my application look better?
So long as a card isn't maxed its not bad especially if there is a good payment history to be seen
Does having multiple credit cards hurt your credit score?
Having the cards does not. Having large debts on them does.
Is having no credit better than having bad credit?
Having no credit is generally better than having bad credit because it means you have not yet established a credit history, whereas bad credit indicates a history of not managing credit responsibly.
How does having multiple credit cards affect your credit score?
Having multiple credit cards can affect your credit score in both positive and negative ways. On one hand, having multiple credit cards can increase your overall available credit, which can lower your credit utilization ratio and potentially improve your credit score. However, having multiple credit cards also means more opportunities to accumulate debt, which can negatively impact your credit score if you carry high balances or miss payments. It's important to manage your credit cards responsibly to maintain a good credit score.
Is having multiple open credit cards with no balance bad or good for your credit rating?
It's wise to use your credit cards ONLY if you have cash in your bank account. Purchase something on each one, then when the statement comes pay it in full.
How can you close a credit card account?
pay the balance,if any,and cut that bad boy up -> YOU CAN CLOSE IT WITHOUT PAYING THE BALANCE (CONTINUE TO PAY SO AS NOT TO DAMAGE YOUR CREDIT)...BUT IF IT'S A PROBLEM ACCOUNT YOU ARE BETTER TO BE THE ONE CLOSING THAN HAVING THEM CLOSE IT ON YOU.
Do you need to have good credit?
It would be better than having bad credit.
Should I carry a balance on my Credit Card to improve my Fico score. I'll be applying for a car loan and I wondered if having a balance on my credit card make my application look better?
So long as a card isn't maxed its not bad especially if there is a good payment history to be seen
Having multiple open credit cards with no balance is bad or good for credit ratings?
The Credit agencies look at your debt to available credit to determine 30% your credit score which if you have no balance it is good for the ratio but they also like to see your paying history which is worth 35% of your credit score and if you have no balance how are they going to see that. In keeping with being debt free it is recommended to use they once in a while and pay them in full so they can be maintained as active (credit card companies sometimes close them due to inactivity which is bad because you lose your credit history with them) and it shows your good paying history.
As a father of 2, how has your parenting experience been shaped by having multiple children?
Having multiple children has shaped my parenting experience by teaching me to be more patient, flexible, and understanding. I have learned to balance the needs and personalities of each child, and to appreciate the unique qualities that make them who they are. Overall, having multiple children has enriched my life and made me a better parent.
Do Capital One credit cards make you pay a monthly fee?
Yes Credit cards have an interest charge that applies to your monthly balance as well as a monthly fee for having a card . Credit cards are vwery expensive . You are better off only using cash .
Will having a negative balance in an unused checking account affect your credit rating?
No, having a negative balance in an unused checking account will not directly affect your credit rating. However, if you fail to pay off the negative balance and the account is sent to collections, that could potentially have a negative impact on your credit rating.
How does having an Amazon credit card affect my credit score?
Having an Amazon credit card can affect your credit score in both positive and negative ways. If you use the card responsibly by making on-time payments and keeping your balance low, it can help build a positive credit history and improve your credit score. However, if you miss payments or carry a high balance, it can have a negative impact on your credit score.
