Yes it will, but you will lose distance and possibly accuracy... due to the clubs rather than missing the ding. The best bet, if you can, is to upgrade to the Starter Plus club set which you can buy in the pro shop for 99 credits. These clubs will slow the meter right down. Also, go back to the Beginner putter; it performs no worse than the Starter putter but the meter is much slower.
If you don't want to deposit real money to get your credits, have a look at doing some free offers - you only need to do 2 of the free 75 credits offers and you will be able to afford the Starter Pro club set.
PS You can't upgrade to the Starter ball - that's the default ball that you get for free!!!