Questions regarding credit card APR

Started Feb 15, 2013 | Discussions thread
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dad_of_four Veteran Member • Posts: 7,921
Re: I understand the concept

Chato wrote:

So this guy I used as an example - Is he paying $15 bucks a month on all of them? What does THAT do to his credit score?

Well, in this example, his current debt is at or near his available credit, so that will lower his score.

If $15 is the minimum payment due, this will not affect his score, other than having a higher debt vs. limit.  If he pays less than the minimum, that will trash his scores.

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