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If you have bad credit on one credit card can you still have good credit on the others..?
Lets say one card is near maxed out and I'm late or have had trouble making payments..while the other has always been paid on time an has a low balance or zero. Will one company reporting me to credit bureau cause my credit limit on the good card to be lowered or the interest rate increased?
2 Answers
- 1 decade agoFavorite Answer
Depending on the laws in your state or province, yes, some banks will review your credit report and make adjustments based on your overall credit file, not just your dealings with that institution. They justify this by taking the bureau score as measure of future lending risk. Regardless of how your score ended up where it did, you are a riskier borrower than you were before, so they may need to adjust accordingly in order to "insure" against default.
- 1 decade ago
If you have one account on your credit report with negative info reporting it may affect your other accounts in good standing. Most banks periodically review their customer's credit reports to make sure accounts are at the correct interest rate and credit line.