Posts Tagged ‘Credit Card Balance’

How does getting credit back on your credit card work?

Sunday, November 30th, 2008
Philosopher asked:


Let’s say I buy something for $100. I return it and they say I will have that credit back on my credit card. So now my credit card balance is $100? What if I paid for that $100 already and then returned it and got credit back? Can a credit card have a balance and have money withdrawn from it?

Antonio

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Posted in Credit | 4 Comments »

My credit card balance is over 50%. How long will it take my credit score to go back up?

Friday, June 27th, 2008
Casey asked:


Hi. I recently just got my first credit card ever and used it to make a $1600 purchase. The credit limit is $3000, so obviously I’m over 50% of the balance, and I just learned that’s bad for credit scores. I expect to be able to pay off the purchase in the next two or three months. Will my credit score go back up immediately after I get the balance on my card down, or will it take a while? Thanks.

Vincent

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Posted in Credit | 3 Comments »