What kind of impact do certain credit cards have on ones credit score?
I know someone who has a Majestic visa and has had it for 5yrs. has never been late and has always sent more than the minimum amount, but the limit won’t increase, and they tell her that they don’t allow customer initiated credit line increase requests. And then come to find out (don’t know what its called, but would like to) it’s locked at that certain amount. DO THESE KIND OF CARDS HURT SCORES?
Tags: Cards, Certain, Credit, Impact, Kind, Ones, Score
The terms and conditions of the card have no impact on your score. The FICO score is calculated based payment history, balance, mix of credit types, age of the account, etc. In other words, all the tings that are under your control. Whether the lender will increase a credit limit has no bearing on the FICO.