A no-limit credit card can damage you, even if you pay it off in full every month, because the most commonly used method of determining risk is flawed. The problem is something called credit utilization. If the card has no limit, the credit-scoring company can't make the credit-utilization calculation, and that has an effect on credit scores.
read more | digg story filed under Financial Tips, Financial Advise, Credit Cards
Friday, September 01, 2006
Cards That Hurt Your Credit Rating
Subscribe to:
Post Comments (Atom)
0 comments:
Post a Comment