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| *Loan,banking and credit>>>credit line |
Will applying and having Personal Line of Credit affect the credit history and score? |
Will applying and having Personal Line of Credit affect the credit history and score? only if you maintain the PLoC at the maximum limit, and only make minimum payment amounts. Maintaining PLoC at less than 50% of the credit limit, and making more than just the minimum payment will increase your credit score, provided that your total credit limits (all of you credit cards, car loans, etc) to income ratio is not out of whack. It does affect your score and credit as you now have access to more money thru that line of credit. Just keep making regular and timely payments on that line of credit and your FICO score will actually go up after about three payments on time. Your welcome. it will if you don't pay it when u are to pay it, it isn't something to mess with, the banks are good for making sure that u don't mess around. I have placed this in the source box. There is a wealth of information there and a great free debt management software program. I bookmarked the site as I return to it often for the advice it offers. I hope this helps you. http://tinyurl.com/y4wc8r |
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