answersLogoWhite

0

Keep the balances paid off to avoid interest charges. They can eat you up.

User Avatar

Wiki User

19y ago

What else can I help you with?

Continue Learning about Finance

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.


Could you get a credit card with a 528 score?

probably not, because your consider high risk to the merchant/lender. you probably have some high balances, slow payments and too many active credit cards or/and new credit cards


Does having more credit cards negatively impact your credit score?

Having more credit cards can potentially lower your credit score if you have high balances or miss payments on any of them. This is because having more credit cards increases your overall credit utilization ratio and can make you appear riskier to lenders.


Does having a lot of credit cards negatively impact your credit score?

Having a lot of credit cards can potentially negatively impact your credit score if you have high balances or miss payments. This is because it can indicate a higher risk of debt and financial instability to lenders.


How good is a 425 credit score?

425 is a below average score. you probably have high balances, very slow payments, possibly too many or new credit cards

Related Questions

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.


Could you get a credit card with a 528 score?

probably not, because your consider high risk to the merchant/lender. you probably have some high balances, slow payments and too many active credit cards or/and new credit cards


Does having more credit cards negatively impact your credit score?

Having more credit cards can potentially lower your credit score if you have high balances or miss payments on any of them. This is because having more credit cards increases your overall credit utilization ratio and can make you appear riskier to lenders.


Does having a lot of credit cards negatively impact your credit score?

Having a lot of credit cards can potentially negatively impact your credit score if you have high balances or miss payments. This is because it can indicate a higher risk of debt and financial instability to lenders.


How good is a 425 credit score?

425 is a below average score. you probably have high balances, very slow payments, possibly too many or new credit cards


Can having to many credit cards with no credit balances reduce your credit score?

{| |- | 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 are some good ways to acquire good credit loans?

You will need to have good credit. This can be accomplished by not having too many credit cards, paying them off, or at least the minimum balances, and making sure your mortgage payments are on time.


What are the benefits of no interest credit cards?

No interest credit cards offer the benefit of not charging interest on purchases for a certain period of time, allowing cardholders to save money on interest payments. This can help individuals pay off their balances faster and more affordably.


What benefits does the Juniper credit card offer?

Juniper credit cards offer a few different benefits. These benefits include online track account activity, make payments, transfer balances and more online.


Why do you have to have credit cards with balances on them to get a mortgage?

to show how repsonsible you are at paying your bills


Do London cabs accept credit cards?

Yes if you are booking them online or by call they do accept payments by credit cards.


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.