Does consolidating credit cards affect your credit score

04-Apr-2017 08:00

To ensure your credit score is maximized, the best thing you can do is get a copy of your credit report.You are entitled to a free report each year from each of the three major credit bureaus (Trans Union, Experian and Equifax).This preserves all of the history -- good or bad -- that you have accumulated on your credit card to date.If you have a lengthy history of paying on time, you won't lose it.If you tell your credit card company the card is lost or stolen before any charges are made, you're not liable for any of them.

Even not having a credit card can affect your credit score.

If you're one of many consumers who doesn't have a credit card, your credit score could be affected. Without open, active accounts on your credit report, you won't have a credit score.

Credit cards are one of the easiest types of credit accounts to get which makes them a good option for establishing and building a good credit history.

Having a credit card is more responsibility than you might realize.

Not only do you have to be responsible enough to charge only what you can afford and pay back the charges you've made, you also have to be mindful of the impact credit cards can have on your credit score.

Even not having a credit card can affect your credit score.

If you're one of many consumers who doesn't have a credit card, your credit score could be affected. Without open, active accounts on your credit report, you won't have a credit score.

Credit cards are one of the easiest types of credit accounts to get which makes them a good option for establishing and building a good credit history.

Having a credit card is more responsibility than you might realize.

Not only do you have to be responsible enough to charge only what you can afford and pay back the charges you've made, you also have to be mindful of the impact credit cards can have on your credit score.

However, how you respond to losing your credit card may impact your credit score.