What effect will skipping payments on one credit card in order to double the payment made on another card have on my overall credit score?
I have 20 credit cards. I want to skip paying a few for one month to double up payment to another credit card. Will this affect my credit score? Or would it be better to go with a credit counseling company and close all my cards. Which will show on my credit score and affect me as well?
Answers | 1
April 25, 2017
Asked by Meredith
Answered by Phillip Christenson
CFA in Plymouth, MN
They will both help you build credit at relatively the same rate. A secured credit...
Asked by Beverly
Answered by MoneyTips Writing Staff
Financial Adviser in Los Angeles, CA
Hi Beverly, There are a few articles on MoneyTips that should be of help to you...