Here is the aggregate of information I know about credit cards and how they affect your credit score based both on previous knowledge and new information from Matt's birthday party tonight:
Using credit cards and making regular payments: good.
Using credit cards and not making payments: bad.
Obtaining dozens of credit cards in your name and fictitious names connected to your credit and address and not using those cards: neutral.
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Makes you wonder about their proprietary algorithms, right?
ReplyDeleteThe last one is actually probably good for your credit score since it improves your debt to credit ratio.
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