2007-12-12 06:32:35 · 4 answers · asked by John T 1 in Business & Finance ➔ Personal Finance
yes it will lower it!!!
2007-12-16 03:38:54 · answer #1 · answered by Anonymous · 0⤊ 0⤋
In short, anything you do with your credit cards can make your rate fluctuate. If you move all of your balances onto one card, it could adversely impact your score because that one card would be maxed out, or close to maxed out (potentially).
On the other hand, if you have 2-3+ cards with very high interest rates, and you are moving your balances onto a low fixed, or low introductory APR card, with the intention of paying down the balance, then this could help your score by lowering your debt to credit availability ratio.
Making more then 1 payment a month can actually HELP your credit score too... don't ask me why, it just does. In fact, as long as you aren't be charged bank fees to make frequent payments, I would suggest paying your money on your credit card WEEKLY instead of monthly if the goal is to increase your score.
2007-12-12 06:51:41 · answer #2 · answered by docjulius 2 · 0⤊ 0⤋
in case you utilize a debit consolidation company including client credit Counseling; than, particular that is going to diminish your credit status...yet once you get a debit consolidation loan and you hold up with the money it will boost your score.
2016-11-03 01:04:00 · answer #3 · answered by Anonymous · 0⤊ 0⤋
i don't know and i'm also looking for answers.
2007-12-12 06:35:47 · answer #4 · answered by slayer maniac 3 · 0⤊ 0⤋