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Posted on 2 September 2017 | 2,613 views

A Store Credit Card That Doesn’t Require Payments for Six Months Will Lower Your Credit Score

You charged thousands of dollars’ worth of appliances to a store credit card that doesn’t require payments for six months. As long as you make the payments in six months, your Credit Score will not be affected.

If you answered false — you’re right!

Your FICO Score may tick lower, especially if the balance is near the card’s limit. That’s because your credit-utilization ratio is calculated for balances on individual cards as well as overall and the longer the debt sits, the heavier the impact on your Credit Score.

In addition, store credit cards tend to charge steep interest rates that may be retroactive to the day accounts are opened. So if you don’t pay the balance before the interest-free period is over, you will rack up big charges.


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3 Comments »

  • Jessica Johnson said:


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