Sentences with phrase «balance on your credit card damages»

Running a high balance on your credit card damages your credit because it looks irresponsible in the eyes of the lender.

Not exact matches

Balances over 70 % of your total credit limit on any card damages your score the most.

Just ignore the low introductory rate when you're picking a card unless you're planning to transfer a balance from another card so you can pay it off rather quickly (but transferring balances from one credit card to another on a regular basis can damage your credit score and cost you big in the long term).

The more high balances you have on your cards, the greater the damage might be to your overall credit score.

For example, a higher amount owed on one credit card as opposed to another causes more damage to your score than the card with the smaller balance.

Until the balance transfer has gone through both the initial card issuer and the new issuer, you are still legally required to make at least the minimum payment on your initial card before your due date to avoid late fees and / or credit damage.