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Yes, you can use a checking line of credit to pay off credit cards, as it provides you with a revolving credit option. However, it's important to consider the interest rates and terms associated with the line of credit compared to your credit cards. If the line of credit has a lower interest rate, it could be a beneficial strategy to reduce overall debt costs. Always ensure that you have a plan to repay the line of credit to avoid accruing more debt.
What else can I help you with?
how can i get free money to pay off my credit cards?
how can it get free money to pay off my credit cards
Why do people use credit cards instead of cash?
They don't have enough money in their checking account to pay for that item. Sometimes it is bad to use a lot of credit cards instead of cash because they might end up never paying off their credit cards. They will end up in debt and never having enough money to live.
Does paying off credit cards hurt your credit score?
Paying off credit cards can actually help improve your credit score by reducing your overall debt and showing responsible financial behavior.
How can one find advice on how to pay off credit cards?
Paying off credit cards is the first step to a debt-free life. For tips on paying off all of your credit cards, check out websites like The Motley Fool or Money Girl.
How does paying by credit card affect your other credit cards?
Generally, paying by credit card does not impact your other credit cards UNLESS you are attempting to get a credit line increase on one of those other credit cards. When you use your credit card, depending on the timing of credit bureau reporting, your credit score may be negatively impacted if you have a balance (whether paid off in full each month or not) that is equal or greater than 30% of the card's credit line. In this case, the score may have been impacted enough where the other credit card company may not grant a credit limit increase.
how can i get free money to pay off my credit cards?
how can it get free money to pay off my credit cards
What is an Example of good credit?
Paying off all credit cards each month Paying off all credit cards each month
What is an example of exhibiting good credit?
Paying off all credit cards each month Paying off all credit cards each month
Why do people use credit cards instead of cash?
They don't have enough money in their checking account to pay for that item. Sometimes it is bad to use a lot of credit cards instead of cash because they might end up never paying off their credit cards. They will end up in debt and never having enough money to live.
Does paying off credit cards hurt your credit score?
Paying off credit cards can actually help improve your credit score by reducing your overall debt and showing responsible financial behavior.
How can one find advice on how to pay off credit cards?
Paying off credit cards is the first step to a debt-free life. For tips on paying off all of your credit cards, check out websites like The Motley Fool or Money Girl.
How does paying by credit card affect your other credit cards?
Generally, paying by credit card does not impact your other credit cards UNLESS you are attempting to get a credit line increase on one of those other credit cards. When you use your credit card, depending on the timing of credit bureau reporting, your credit score may be negatively impacted if you have a balance (whether paid off in full each month or not) that is equal or greater than 30% of the card's credit line. In this case, the score may have been impacted enough where the other credit card company may not grant a credit limit increase.
Where can one find information on paying off credit cards?
Information about paying off credit cards can be found on sites that deal with credit problems. There you can find places to go to to help pay off your credit card debt within your budget.
Can you use a credit card to pay off other credit cards?
Yes. Contact your credit card company. They will need the account numbers of your other credit cards.
Can paying off credit cards increase your credit score?
Yes off course. Paying off any debts will increase your credit score.
What are some tips when applying for credit cards?
Some tips for for when applying for credit cards are: making sure your credit score is good, being sure how you'll pay off your credit cards, avoiding store cards, and paying attention to your rate.
How can paying down your credit cards lower your credit score?
Paying down your credit cards won't lower your scores-- but paying off and closing the credit cards will lower the scores. You want to show that your cards are not maxed out and you have plenty of room between the credit limit and the balance .
