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Posted in Credit Cards
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Question By
Pashata

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the balance how this is going to affect my credit score and opening a new one with a travel rewards,

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I am not exactly sure as to what your question is but I hope this answers it. When you have a high utilization on a credit card then yes it does affect your credit in a negative way. You should always try to pay down balances on cards and letting the new balances update the following reporting time before applying for more credit. The general rule is to never exceed 30% of your cards credit line. For best Fico scoring you want one card to report something, but less than 10% of the credit line on the card that you let a balance report on. Make sure you let one card report something if not your scores will decrease for not having any revolving activity for the month.

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