See,
it is hard to say how much your credit score will drop when you make
only minimum payments. When you make minimum payments, what happens is
that your outstanding balance increases due to the compounding
interests. And that increases the credit utilization ratio. The higher
your credit utilization ratio, the lower your credit score.
Your
credit score won't reduce by making minimum payments. But you will have
to make hefty interest payments and it will take a considerable amount
of time to repay your debts.
So, if you are facing problems with your credit card debt, feel free to
call 800-DEBT-913 and immediate assistance.
The good news is your credit score won’t drop if you make the minimum payments on your credit cards for a couple of months.
This is the rule.
Sub: #1 posted on Mon, 01/18/2021 - 03:59
(Posts: 249 | Credits: )
Sub: #2 posted on Wed, 01/20/2021 - 02:07
(Posts: 394 | Credits: )
So, if you are facing problems with your credit card debt, feel free to call 800-DEBT-913 and immediate assistance.
Sub: #3 posted on Sun, 01/24/2021 - 21:43
(Posts: 273 | Credits: )