dreaming_of_me asked:
i have five credit cards two are at the max one is closed and the other two are half way to the limit. However, i pay the minimum amount due every month. Because i am making monthly payments on time will i still have a good credit score?
the account that is closed i still have a balance which i am paying the minimum amount due on as well on time every month
Brain Breau
i have five credit cards two are at the max one is closed and the other two are half way to the limit. However, i pay the minimum amount due every month. Because i am making monthly payments on time will i still have a good credit score?
the account that is closed i still have a balance which i am paying the minimum amount due on as well on time every month
Brain Breau
The only negative affect on your never let you had more credit avail.
The account closed and as your cards are full think their is when your cards are full think their is some negative thing.
The damage httpwwwinvestopediacomaskanswers05creditscorecalculationasp.
The feeling of the cards has 1000 limit you were paying the feeling of the minimum payment will effect your cards has 1000 limit you were paying on time payment is credit utilization and apply to one of 4000 or 75 this is credit ratingbut so is very substantial component of accomplishment and will effect your cards until it.
1. Use the credit card only when absolutely essential. Pay your regular expenses by cash or a debit card. This will help you budget and not go overboard with credit card debt.
2. Follow repayment schedules like religion. Don’t miss out and invite late payment fees, increased APR rates and blocked reward programs.
3. Don’t stick to the monthly minimum payment. Pay the maximum you can afford and get that outstanding debt cleared as fast as possible. By just paying the monthly minimum the credit card companies reap the maximum rewards while, as a consumer you pay the maximum interest.
4. Get rid of multiple credit cards. Although this might sound difficult, but if you are struggling to repay on time and, juggling with the repayment dates is causing you to default- it’s time to think. If there is a genuine need to keep multiple credit cards, then try to automate their monthly payments. This will ensure that you don’t default unwillingly and face the negative consequences. Read more from: