How Does a New Credit Card Affect Your Finances?
When you get a new credit card, it can impact your finances in a number of ways.
When you get a new credit card, it can impact your finances in a number of ways.
First and most obviously, it gives you a new line of credit to provide you more purchasing power.
But you also have to manage the account carefully to make sure your debt doesn't grow out of control.
In addition, a new card will affect your credit score. It increases your total credit limit, which can help your rating. However, because it's a new account, it will also temporarily have a negative impact for a few months.
With this in mind, you will have to crunch the numbers and take a look at all the effects a new credit card can have, based on your unique financial situation. Contact Vectra Bank for more information.
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The information contained herein may not represent the views and opinions of Vectra Bank a division of Zions Bancorporation, N.A. It is presented for general informational purposes only and does not constitute tax, legal or business advice.