January 6, 20224 yr Wondering about how credit cards affect credit ratings. If you max out a few cards for a couple of months to complete a build, how big an impact would that have (on say an otherwise good rating)?
January 6, 20224 yr 3 hours ago, cwr said: Wondering about how credit cards affect credit ratings. If you max out a few cards for a couple of months to complete a build, how big an impact would that have (on say an otherwise good rating)? I have maxed out two (about £10k on each) and then I have another two which I pay off in full each month (they occasionally get maxed out with all I'm buying for my build). Prior to maxing out the first two I had an "Excellent" credit rating, whereas now I have a "Very Good" one. So i think it does affect it, but not massively, so long as you never miss a payment. It's the maxing out which I think affects it.
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