Credit cards for bad credit and what you need to know
For those who only pay the minimum required each month, an increase in rates could mean higher payments. Credit cards that have had a zero balance for a year or more are at risk of being closed altogether. Your credit score can be impacted by changes in the maximum limits allowed on your credit cards. Almost a third of your credit score is based upon how much of your actual credit limit you have utilized. That means that if your credit limit is decreased, the same balance you had on a higher limit now uses up a larger percentage of your limit.