How can a credit card help improve your credit score?

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  • How can a credit card help improve your credit score?


Answer #1 | 20/04 2017 10:36
It provides some information that creditors can use to help build a score
Positive: 66.666666666667 %
Answer #2 | 24/04 2017 12:26
Hello, I am Mrs. Stacey Buckley, a legitimate, reputable money lender. We are a company with financial assistance. We loan funds out to individuals in need of financial assistance,or in need of money to pay bills, to invest on business. I'll be glad to offer you a loan. Email us now via ([email protected]) Name Of Beneficiary:......... Country:............. Amount Required............ Loan Duration:............ Phone Number............. Regards. Mrs. Stacey Buckley .
Positive: 61.538461538462 %
Answer #3 | 20/04 2017 14:12
Having an additional type of debt improves credit score. Longevity (length of time) of payments made on or before the due date of at least minimum improves score slowly. Even if statement balance is paid in full, as log as you use the card like a debit card, your credit score goes up slowly by longevity. But, credit applications are a "hard inquiry" and they lower score a few points. And, using a high percentage of the credit line could lower score, as well as unusually high use of credit based on history of spending pattern. The algorithms are complex. Don't apply for a card unless there is a high chance of being accepted. Always pay at least the minimum before the due date.
Positive: 56.25 %
Answer #4 | 20/04 2017 10:56
Because of regular give and take money to and from bank within the stipulated time, Increases your credit score. The more you have credit score, better the chances of getting loan approved in near future, when you require money from financial institutions.
Positive: 53.333333333333 %
Answer #5 | 20/04 2017 12:21
If you pay it off in its entirety over several years, you prove you are able to handle available cash responsibly. Scores go up when you make regularly, timely payments on credit card purchases.
Positive: 50 %
Answer #6 | 20/04 2017 16:50
Responsible use of credit is a key factor in your credit score and having a credit card and making payments on time helps shows your responsible use of that credit card.
Positive: 41.666666666667 %

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