Balanced card impact other cards ?

Discussion in 'Credit Talk' started by elahav, Jun 8, 2016.

  1. elahav

    elahav New Member

    Does owning credit card (high balance) will impact other card ?

    Will other cards will cancel their card, base on other card depth (info) ?
  2. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    Welcome to Creditnet elahav!

    I'm not sure I'm fully understanding your question, but having a high balance on a credit card will negatively impact your credit utilization ratios. This, in turn, will lower your FICO scores. If you have other credit cards, the credit issuer isn't likely to cancel your card because you have a high balance on a different card. It will, however, make it more difficult to get approved for new cards as your FICO scores drop. Does that help answer your question?
  3. elahav

    elahav New Member

    Thank you.
    That was about my question , but to make it clear. If i have problems (not pay...) to credit card A. should i expect that credit card company (B) to cancel their credit card (B) ?

    (Base on theoretically assumption that i dont care about the credit score or to get a new card)
  4. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    If you don't make payments on credit card A, it is possible that credit card issuer B could review your credit reports and see that you are missing payments. That could potentially lead to credit card B being frozen or closed. It really depends on the situation and the credit issuer, but it's certainly possible.

    Are you anticipating having to miss some credit card payments in the near future?
  5. mijd

    mijd Well-Known Member

    What Joshua stated is true, however you've stated that you don't care about obtaining a new credit card or what your present credit score is. What may happen if you are several times late on one card that has a high balance... the credit card company may do what is called credit limit chasing... in other words as you pay off the high balance on your cards, the credit card company may lower your credit limit each month to match your balance. This way you won't be able to charge more to your maxed out card(s). In my experience this has only happened when you show high risk behavior like making late payments or stop making payments all together. Please note this is just my opinion and your own experience may vary.
  6. elahav

    elahav New Member

    Thank you.
    i fear that i may miss or worse, unable to pay my main credit card. (on the other cads i am OK) and i am trying to find my options
    (I.E not pay at all to the main CC) What can be the outcome?
  7. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    What are your current FICO credit scores? If you have solid scores, you could always try to get a new credit card that offers a free balance transfer and 0% interest for a period of time. Hopefully that can buy you enough time to get your financial situation straight without actually missing any payments.
  8. elahav

    elahav New Member

    I relay dont want to transfer issue from one credit card to another. I prefer to solve it once and to understand in what i am facing (what to expect)
  9. JoshuaHeckathorn

    JoshuaHeckathorn Administrator

    I'm not suggesting you transfer the debt to a new 0% interest credit card and forget about it. It needs to be done in conjunction with an overall strategy to get back on top of your credit card spending.

    If your only other option is stopping payments completely and defaulting on your main credit card, then I would argue it's a better option that will at least buy you some more time. Are you dealing with a job loss or other sudden loss of income that's hampering your ability to make payments?

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