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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.
What else can I help you with?
Can you go to jail for not paying your credit cards?
You can but usually other methods will be tried to collect before that.
What isInstallment Debt?
Usually refers to credit cards or any other debt you are paying off in monthly installments.
Will it affect your credit rating and score if you have 5 credit cards but use only one and neglect the other four cards?
== == Your overall credit history will determine how your credit is affected by having numerous credit cards. However, having an overabundance of credit cards with high balances or credit availability can negatively impact risk scores if your credit history is questionable. == == == ==
What benefits are offered by the balance credit cards?
Balance credit cards are those that allow the holder to transfer balances (debt) from other credit cards to this one. Since these credit cards usually come with a promotion that includes several months of no interest payments, they can be used to consolidate and pay off other credit card balances. The balances must be paid during the promotional period for this to be of benefit. Managing and paying off debt this way, saves money and improves one's credit score. These are the benefits of balance credit cards.
If you pay a collections account in full and have no credit cards or other debts how soon can your score go up?
paying off bad credit will take about 60 days to have an effect on your credit score. But, if you don't have any credit cards you will never have a good credit score because no one is giving you credit.
Can you go to jail for not paying your credit cards?
You can but usually other methods will be tried to collect before that.
Should you cancel inactive credit cards?
Yep, other wise you might have to continue paying fees and having an unused credit card lowers your credit rating.
What isInstallment Debt?
Usually refers to credit cards or any other debt you are paying off in monthly installments.
Will it affect your credit rating and score if you have 5 credit cards but use only one and neglect the other four cards?
== == Your overall credit history will determine how your credit is affected by having numerous credit cards. However, having an overabundance of credit cards with high balances or credit availability can negatively impact risk scores if your credit history is questionable. == == == ==
What benefits are offered by the balance credit cards?
Balance credit cards are those that allow the holder to transfer balances (debt) from other credit cards to this one. Since these credit cards usually come with a promotion that includes several months of no interest payments, they can be used to consolidate and pay off other credit card balances. The balances must be paid during the promotional period for this to be of benefit. Managing and paying off debt this way, saves money and improves one's credit score. These are the benefits of balance credit cards.
If you pay a collections account in full and have no credit cards or other debts how soon can your score go up?
paying off bad credit will take about 60 days to have an effect on your credit score. But, if you don't have any credit cards you will never have a good credit score because no one is giving you credit.
What kind of people is likely to run into problems when using a credit card?
Poor People Without the Means of Paying it Back and Thieves who steal other people's credit cards.
Can a credit seize other credit cards?
can a credit card that has won judgment against you seize other credit cards that are in good standing
How will transferring 95 of credit balance to a lower interest card affect your credit rating?
It won't affect your credit rating. But it is the smart thing to do because you will end up paying less interest each month. Credit score looks at (among other things) what percentage of your credit limit you are using. So if you have 3 cards each with a limit of $10,000, that's $30,000 maximum limit. If you have a total balance of $15,000 between the three cards, that means you are using 50% of your maximum. Lenders like to see you at 35% or less of your maximum.
What is the other name of credit card?
Credit cards are also called charge cards.
Where can one apply for credit cards with rewards?
One can apply for credit cards with rewards at websites such as Credit Cards and Credit. Other websites that one can apply for these cards at include Visa and TTBank.
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.
