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re: Multiple 0% Financing Purchases - Will this cause credit score issues?
Posted on 2/23/17 at 8:09 am to poochie
Posted on 2/23/17 at 8:09 am to poochie
The largest negative affect these will have are the multiple hard hits on your account. The next hit will be that every time you open a new account, the average age of your account will go down.
The positives is the percentage of credit you are using will go down which will help your credit. If you are looking to make a major purchase (car/house) in the next few years I would look to close some of the newer accounts to raise my average age. If not, there would not be any harm, and some of them usually close themselves with a few years on inactivity (Wells Fargo did that to me after I paid off my mattress).
The positives is the percentage of credit you are using will go down which will help your credit. If you are looking to make a major purchase (car/house) in the next few years I would look to close some of the newer accounts to raise my average age. If not, there would not be any harm, and some of them usually close themselves with a few years on inactivity (Wells Fargo did that to me after I paid off my mattress).
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