 Too many credit cards. Should I close some? |
I am trying to raise my credit score by cleaning up my credit reports and paying off my credit cards. I will have them all paid off by March of 2008!
I think I have too many cards though! ... |
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 How to build credit? |
| Currently, I'm in college trying to build my credit. I've read that the best option is to open a credit card and have it co-signed by my parents. After I do that, should I make small (like $... |
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 If you owe crdit crds money, and they send you to court, & you absolutely can't pay them back lump sum, then? |
| what will the court say ? do you have to have a lawyer or can you settle this by going to court with all your bills outlined? another thing: i cant even afford to pay the crd cards right now and how ... |
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 My current credit score is 678, how good is that? |
| In the last year I have raised my score from under 600 to the current 678.... |
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 Will paying off my entire balance weekly help my credit score? |
| I'm currently paying off my entire creditcard balance online every other week. All of my statements have a 0 balance right now, but I'm afraid paying them off this often and carrying zero ... |
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 Would i be left with the bill? please help? |
| my partner of 3 years has just opened a joint account for us both we are not married, he has also just signed up for debt management as he was £24,000 in debt (not through me) now if anyhting should ... |
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| How closing a credit card account (1 month of use only) can influence in my credit score.? |
| I opened a credit card account a month ago and I misunderstood the policies. I want to pay the bill and close the account. I need to know how that affects my credit score and how bad it is to my ... |
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 Can I sue Dell for charging me twice and not paying me back? |
| I called Dell for them to fix my LCD screen, so they have to send me a box for me to send it to them....I sent them a check, and I call back 4 days later, and DELL says to me "we have not ... |
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 26yo w/ previous good credit - What is the best credit card for me? |
| I opened a bank account about 7 years ago. At that time, I had an excellent credit score (due to my parents I think) and I have only used my debit card since then. I need to open a credit card to ... |
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 If you have a master card, can you take out a cash advance.? |
please read before you answer, I posted this once and everyone thought that i wanted to go to a check cashing cash advance place and get money, that is not what i am asking!!!
I have a ... |
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 Can a collection agency collect or sue you for an account thats 13 years old? |
| there is a collection agency harrassing me about a debt thats 13 years old and hasnt showed up on my credit report for 5 years. im getting letters from original collection agency and now this new ... |
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 Is it possible to get a loan of 2000 dollars with bad credit? |
| i have a score of about 490! i know that is bad. i am working on it , but i will not be able to bring it up to par before i need this loan. what should i do?... |
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 What's the best way to build credit? |
| I am a student that just received my first credit card and strictly want to use it to build credit. I have a high 19% interest rate and $300 limit. Can I still get good credit if I pay the full ... |
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 Is a Credit score of 730 considered fair, good or excellent credit? |
| I know that applying for and getting rejected for a credit card will lower your score so Im hesitant to apply for a card that requires "excellent credit" Where does a 730 stand? How are my ... |
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 Does anyone really know how to repair your credit? |
| I hired someone to do this for me and it hasn't been working too well. I'm tired of forking out a LOT of money and not getting good results. Any info would be greatly appreciated.... |
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nanabooboo | Can a store require you to spend 5 or more dollars if you use a debt or credit card? |
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Wendy S
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According to their contract with the credit card companies it is a violation if they set a minimum purchase. They are not supposed to, but many do it because they have to pay fees to accept the credit cards and their profits are really compromised on those small purchases.
You will mostly see these minimums at small companies or franchises, for this reason. The larger companies just absorb the fees as part of the cost of doing business, as the loss is a much smaller part of their bottom line profits.
I have challenged this on many occasions and most places will go ahead and take the credit card for a total under their stated minimum. I only do this if I don't have the cash, though, as I do like to support small business. |
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Angie
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I believe they can. Please keep in mind that they are charged a service fee every time something is charged. It's not right to ask them to pay a service charge for a 43 cent purchase. |
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1 Hr Bookkeeper
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Absolutely. They do this because there is a minimum charge for accepting a credit card. If they did not set a minimum price in some cases, they would not profit on their purchase.
Hope this helps. |
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robert w
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yes .
look at it from this point
u spend 4.75 with tax it is 5.10
the merchant pays the tax .35
and credit card company 3-6% of charge
5.10 x 3% = .15
5.10 x 6% = .30
plus processing fee of .15$
so of that 5.10$ - .35 - .15 -.15 = 4.45$
the margin of profit in some stores is not that much.
besides why do u want to pay 20% more for a charged item. cash is king
debt is slavery. |
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bud68
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Yes. |
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concretebrunette
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Absolutely. My company does it. Merchants get charged a fee every time their card machines get used, and it's based on a percentage. My company requires a $15 purchase to use a card.
We also chose not to accept American Express because they charge merchants an exorbitant fee for credit card processing. |
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Isadora
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Yes, they can, because sometimes the cost of processing a small sale is more than the sale, and the store would lose money on it. Most small stores have it posted that a credit card sale must be $5. or more. It is really rude to expect a store to accept your card for a very small amount. You should always carry a little cash for things like that. It is just considerate.
It might not matter to a big chain store, but the profit margin for a small store is very slim, and too many of those charges could hurt them badly. |
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disen87
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Absolutely...credit card processing is a service they pay a fee for everytime they use it. So they can require a minimum amount to be bought and charged so you're not charging ridiculously small amounts and cutting into their profit. |
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_nicole_
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Yes they can. Stores are charged a fee everytime they use the machine. Some stores won't accept plastic for purchases under $10! This is probably a small business or a family owned business. Usually big chains will not charge you for small purchases. |
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jwishz
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They are not supposed to but many do. It against the rules established by the merchant account (credit card) processor.
2 Choices, either shop elsewhere or if you want to make a point, get the name of the person who told you that and send a letter to Visa, MasterCard etc. advising them of the name of the merchant, person who told you, address of the store. |
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Amanda
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What about the convenience for the stores consumers being able to make more purchases at that very store. I mean seriously...imagine the money they wouldn't be making if it was cash only? I thought that imposing a limit was against the law? Otherwise that store can remove the machine if its not worth the convenience. |
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