Levi applies for a number of credit cards. Soon he has large balances on all of them and makes only the minimum payments. How could this affect him?

Large balances and paying only the minimum can make Levi appear to be a higher-risk borrower. Lenders may see that he is using a lot of his available credit and may be concerned about his ability to repay more debt. As a result, they could avoid giving him additional credit. Lenders generally do not erase debt or reward high balances with higher limits.

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