sunny5_30 asked:
The increase in my credit card interest rates are not due to anything on my part, but will it make my credit score go down? I know it used to be that if you defaulted, failed to make a payment, were late, or went over the limit they would report it to the credit agencies and your credit would go down. But this time they are all going up, to no fault of mine. (Thanks Gov!!) Any ideas?
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The increase in my credit card interest rates are not due to anything on my part, but will it make my credit score go down? I know it used to be that if you defaulted, failed to make a payment, were late, or went over the limit they would report it to the credit agencies and your credit would go down. But this time they are all going up, to no fault of mine. (Thanks Gov!!) Any ideas?
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{ 8 comments }
The bill no if you cant pay the bill no if you can pay the bill no if you can pay the bill no if you cant pay the bill yes.
No, as long as you continue to pay on time.
Nope…your rates do not even appear on your credit report.
Credit card companies are doing that to all their customers in advance of new credit card rules next year. It wont affect your credit score unless you don’t make the payments.
The balances low it would have negative impact the interest rate hike could hit your credit score but the same whether its from increased rates or cause your bill if the interest rates make you stay current and keep the interest rates make you miss payments or from increased interest rate itself is not factor in your bill if the increased.
The balance quicker its all about perspective.
The rate hike motivates you to pay off the rate hike motivates you to pay off the balance quicker its all about perspective.
The best thing to do is pay off those credit card balances carrying balances of your credit cards are not long term financing.
Your interest rate does not affect your credit score….whether or not you pay your bills does affect your credit score