Sentences with phrase «existing credit lines»

Your average age of existing credit lines is 7.2 years.

But it can also cause interest rates on existing credit lines to rise as well (current lenders DO monitor your credit!).

Balance transfers allowed up to existing credit line availability.

Well your new average age of existing credit lines is now 6 years.

So unless you're trying to extend the length of your credit history or hold onto existing credit lines, downgrading doesn't really make a lot of sense either.

For example, the FICO ® Credit Score model has difficulty producing credit scores for consumers with «thin files,» meaning a limited history of applications for credit and usage of existing credit lines.

Don't open new credit cards, take out new loans or use more of any existing credit lines.

When applying for bad credit mortgage loan, make sure you are current on your existing credit lines.

Additionally you'll want to minimize your use of any existing credit lines that you have, as higher rates of credit usage can negatively impact your score.

Be sure to use your credit cards wisely and don't carry balances that are more than half of your existing credit line.

According to FICO, one of the factors that creditors evaluate is the age of existing credit lines, so closing an old account will lower the average age of your available credit.

This also doesn't include the numerous denials who didn't bother calling the reconsideration line to offer to move around existing credit lines to make room for the new card.

It replaces the existing credit line.

You may even find that your existing credit lines have been frozen as a result of all the negative credit information.

Splitting existing credit means a bank is not taking on any new risk, and instead you're just shifting the existing credit lines around a bit.

-- The entire existing credit line of the closed account must be added to the existing credit line of the remaining account.

By shifting your existing credit line to another card, you keep your available credit high even after closing a card.