Why I write on student credit cards
For those who only pay the minimum required each month, an increase in rates could mean higher payments. Banks may even cancel some credit cards that have been inactive for over 12 months. Lower credit limits on credit cards can affect your credit score. 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.