Credit Card Advice | CreditCardAdvice.com » balance chasing http://creditcardadvice.com Your Source for Credit Card Advice Thu, 26 Jan 2012 15:52:11 +0000 en hourly 1 http://wordpress.org/?v=3.0.4 Why Balance Chasing Can Hurt Your Credit Score http://creditcardadvice.com/why-balance-chasing-can-hurt-your-credit-score/ http://creditcardadvice.com/why-balance-chasing-can-hurt-your-credit-score/#comments Mon, 28 Jun 2010 14:34:19 +0000 admin http://creditcardadvice.com/?p=345 First, let me explain what "balance chasing" means. If you own a credit card and carry a balance, you may have recently received a letter in the mail from your creditor telling you they’ve lowered your balance. Maybe you originally had a $6,000 balance, they cut it down to $4,000 and you owe $3,900. This is balance chasing, and here is some advice on how to deal with it. Balance chasing is when your creditor cuts your balance down to just above what you owe. They do it because they’re trying to reduce risk, but they also stand to...

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