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Is It Bad To Have A Credit Card Balance That Is Always Close To The Limit?
MoneyRainmaker
post Apr 20 2010, 09:58 PM
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I have only 2 credit cards. One of the cards has a 17% APR. I have a credit limit of $1000 dollars on it, and I tend to only pay $100 dollars a month, and then spend again on it. So I'm always very close to the limit. Someone recently told me that this is bad for my credit. Is that true?


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Rhyker
post Apr 21 2010, 09:14 AM
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any credit is not good, but you knew that already. What makes creditcards 'dangerous' is the high APR rate. Get red of the debts, get rid of creditcards and get debitcards. Control your spending. Easier said then done, but worth it.


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Uncle Awesome
post Apr 21 2010, 10:19 AM
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I have to disagree. There are benefits to using Credit cards. For one, it will help build your credit score if you pay them on time. Secondly, I use a rewards card to earn 1-3% back on all my purchases. I pay off the balance each month.


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MoneyRainmaker
post Apr 21 2010, 10:05 PM
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I actually agree with Uncle A since we need credit to to build our credit history and get good scores. But of course responsibility is the key to building good credit. I know that the APRs are high that's why I ask if it is bad to have my card balance always close to the limit, because if it is, then I would have to stop doing it.


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Yippee
post Apr 22 2010, 06:14 PM
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"Available Credit" is one of the criteria they use in your FICO score for your credit rating. If your cards are always at or close to the limit, then you have little or no available credit left therefore it lowers your score. Start paying them down and your score will improve.


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cjmiles07
post Aug 28 2014, 09:40 PM
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It is true that it will bad on you just like other limit is you pass the limit it meas it is bad and a accountant or kirjanpitopalvelut lappeenranta told me that when it to credit card thing always use it moderate and don't push the limit cause it will surely give a problem.
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steelman
post Aug 29 2014, 09:12 AM
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you must pay all your debt at deadline . you will have good credit score. you will be easy to loan again
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realist
post Aug 29 2014, 09:19 AM
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It really is important to pay off any balance by the due date. Credit card interest is highway robbery, so don't fall into the trap of having anything owing.


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