Will having a credit card company lower my interest rate and set a payoff plan hurt my credit score.?
The credit card company wants to help me by lowering my rate and setting me up to pay the card off in five years. The card will also be canceled. I am worried because i am planning on buying a vehicle in the next five years. I have a very good credit score and I am afraid if I agree to this payoff plan with the credit company it will hurt my credit. I just want to know if it will hurt my credit score to do this. Thank you.
Public Comments
- You have to ask them; that is something you can negotiate. But it would only stay on your score for two years or so anyway.
- You can use this credit monitoring service to pre-estimate future scores for different scenarios of such payments - credit-report-free.totalh.com
