Well as long as you leave a balance on the credit card and continue to pay it regularly and on time you should see improvement in your credit score.
credit cards are necessary evils we have come to depend on. Without a credit card, you will not be taken seriously by creditors. Credit cards are proof you pay your bills on time or late. They are confirmation for creditors to issue you a pretty good interest rate when you wish to purchase something on credit. In answering your question, the credit cards are the measurement of how much credit will be extended to you. Credit cards help
creditors form a financial picture of the person they are lending their money to. Credit cards can not easily be lived without in our current life style.
Prudent use of credit cards can definitely improve your credit score. Credit scores are made up primarily of three things: on-time payment history (35%), available credit to credit balance ratio (30%), and length of credit history (15%). If you have a large total of available credit on your cards, but maintain a low or no balance you can positively impact your score.
by Rebecca Graf7 years ago
What questions would you like to see answered about credit card debt?
by Davinagirl35 years ago
My husband and I are looking to buy a house in the upcoming year. We have run into some trouble looking for a lender because our credit is, for lack of a better term, crap! I am looking for ideas on how to...
by Lgali2 years ago
Credit cards make you spend more yes or no
by alaze20038 years ago
Now, what comes to your mind when you think of credit cards? Well, to some people it means having alot of extra cash that doesn't belong to us, at that moment, but we have an option to spend it. If decided to spend the...
by Karina S.5 years ago
Do you know how to improve your credit score?
by Jyoti Kothari7 years ago
There are some tips: 1. Spend within the means. 2. Reduce the number of credit cards. 3.Instead of paying to all credit cards start closing one by one. 4. Have a close look to the bills. Credit...
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