In an effort to revitalize a credit score, experts offer all sorts of opinions. There are a few common strategies that seek to remedy a credit score, and individuals of all kinds adopt them to reach the rate they need. There is one area that is somewhat controversial. Is it worth it to have a credit card or two without a balance due just laying around? Is this productive, a waste of energy, or just an unnecessary thing to do in pursuit of superior credit?
The Extra Credit Card
The “extra” credit card most commonly refers to a secondary card. There are a few ways this can be applied. The first is an individual that carries the main card for daily purchases, including gas, groceries, and more. The extra card is set aside for emergencies, with a balance that is kept low to be used when the situation arises.
It could also manifest as a card that is close to its maximum capacity. In an effort to pay this balance down, the card remains an “extra,” only to be used if absolutely necessary.
An extra Card is a Credit Score Repair Kit
Others may have an extra card to help restore their credit, and this is where things get less clear. Financial Services in Palm Bay FL recommend exploring the idea of having an additional credit card (or a few, but that is another matter) to help in credit repair. But, the situation is not appropriate for everyone. For example, an individual who is recovering from some kind of credit addiction may not get very far with a credit card that has no balance due. This makes them susceptible to using it unless they hide the card or rip it up.
An extra card can help restore credit by keeping a low or zero balance, ultimately improving the credit maximum aspect of a credit score. Financial Services in Palm Bay FL can recommend an additional card to be used responsibly. It can help in credit repair, but it is not a drastic help and may not be worth the tease of having an accessible credit card. Browse our website for more detail breakdowns of credit repair and financial assistance.
