 Do u own a credit card? |
because at 28, i dont at all.
i still use cash. is that bad?... |
|
 Getting a Credit Card under Sons social....? |
| I was wondering if anyone knows if you can get a credit card or any other type of credit under a person child's name and social if the child and one of the parents have the same exact name? Does ... |
|
 How do the credit repair companies fix your credit? |
Iv'e heard they send letters but how can I learn aboutit to do this for myself and my friends and family?
only serious answers.... |
|
 I am tired of interest charges being like a loan shark charges in the USA. Who agrees? |
Finance charges are so horrible in the USA. They will never go down.
Additional Details
For those who claim I am a dumb blond. I only owe for my home. 3 acres 4 bedrooms, 2 bath, Over 25... |
|
 Using cash or credit card for gas/groceries? |
| for gas and groceries-do u charge or use cash?... |
|
 How to get a loan teenager? |
| im 16. have already graduated. have full time sales job and part time weekend job. i have enough money to afford a nice truck payment. how do i get a loan, when my parents have bad credit and cannot ... |
|
 How should I go about raising my credit rating? |
| About 8 months ago, I applied for a credit card. I use it religiously about 3-5 times a month (usually about $20/month) so that I can raise my credit rating. I currently have Capital One so the APR ... |
|
 Credit cards:? |
| Anyone have any more options for first timers? I have been trying to get one ( I have no credit at all) and have been denied by EVERYONE! I am losing hope! What do i do?... |
|
 If my husband moves out of the country am I responsible for his credit card debt as well as mine? |
| I will need to divorce him soon and wonder if that is possible on 2 separate continents? He is crazy mind you, and is fleeing from all responsibility, both the debt he incurred while we were ... |
|
| Are you criminally liable for defaulting on a credit card bill? |
| On my one credit card with a $10,500 limit, I missed a payment and the interest rate alone made me over the credit limit. Without moving in with parents I wouldn't have been able to get it paid. ... |
|
 $ 10,000 loan needed A.S.A.P.!!!? |
| long story but i need a ten thousand dollar loan before the end of this month!?... |
|
 What's the best credit card for a college student? |
| I'm looking for a good credit card with low annual and monthly payments and a decent APR. I would be using it mainly for bills and other living expenses.... |
|
 HELP! I think I am being sued by a collection agency? |
| I just got the letter from their lawyers stating that might come after me and take me to court. It is an old SBC bill for $2800.00 from back in 2003, what happens if they sue me? What does a ... |
|
 I have really really bad credit and i need a small business loan ? |
| is there any website that are legit and i can get a small business loan with really really bad credit and kinda fast too i need about 20,000 dollars please help ... |
|
 Any ideas on how to pay off credit card debt fast? i will never get it paid off at the rate i am going? |
| i have some credit card debt.. i have great credit and dont want to ruin it but it seems that i will be paying till i am 90... i dont use them at all. but the balances i do have are taking forever to ... |
|
 Pay pal...? |
| Your experience's? any good? reliable? thanks.... |
|
|  |
Future Mrs.Cook | Closing a credit card? |
I have a few credit cards, 7 actually most of them i owe nothing on. they are the store ones, target, victoria secret, american eagle, old navy, kohls, jcpennys, and express. will it hurt my credit to close the ones i dont owe anything on or dont use? |
 |
 
Sgt Big Red
|
It wont hurt, but it will affect your credit a little.
Don't forget the purpose of a credit report. It is to show a "history" of your ability to maintain a good standing.
The longer one keeps an account open (even if there is no activity) the better off you will be
Close only those that charge monthly or yearly fees.
The best thing is to use them on occasion and pay them off when you get the statement. Don't charge large amounts, just small charges.
I have one charge card that I have not used in over 7 years, but the credit limit keeps going up. But here I have a history of good standing for a long period of time.
But it's all up to you and your decision is yours to make
Good luck |
|
Steveo
 |
Depends. If you have no outstanding balances and pay everything off, you don't need to have such cards open. Close them and show that you have some control on your credit. If you have some balances, your balances are equal to 25% of your available credit. Close the rest. |
|
Ayo A
|
nope. U just have all those credits ahnging out on your report anyway. For them to reflect on your score, you have to use a small percentage of them and repay 'em. If you are jot using them, I'd say close 'em all.
One revolving credit that u use and repay is far more beneficial than one million ones u don't use. |
|
bad bob
 |
i would do nothing keep the cards you don't use separate Locke them away safely and reply to your statements make it clear you no longer require them keep all correspondence |
|
Ada
 |
Very good question. The store ones end today! Visa is a major credit card and one that is worth holding for a day you may need it.
From what i understand cutting off the big credit cards does raise flags,however if you do not owe..it is nothing bad...BUT I would keep one. If you need to use it, pay it up the following month.
The stores ones.....say bye bye! |
|
patrick
 |
Surprisingly, yes it will lower your Credit Score if you close the accounts.
Part of your credit score is determined by what % of credit debt you have to total avaible credit.
If you close an account with a credit line of $1000, then your total available credit amount decreases, and thereby increases you debt to credit availability %.
What you can do, is consolidate you available credit. To do that, start by applying for a major credit card, like Visa. Then close an account with the same available credit. Every time your credit line is extended on th major card, close another department store account. Eventually, ou will have one Visa card (usable in all the stores) with the same available credit as you have now. |
|
reidapeggy
 |
If you dont owe anything on it and you dont use it, DO NOT close the account because I think that it does hurt your credit. But if you just cut it up it will be the same thing and it wont hurt you at all.
p.s.
I burned my credit cards I didnt want for security reasons. (Better than throwing it in the trash) |
|
googie
|
There should be no problem with closing any credit card which carries zero balance. Certainly it should not effect your credit. The true advantage for using a store card is for easy settlement of returned merchandise. My experience has been " the fewer cards I have , the better control over expenses." Also if the card offers rewards you benefit from larger activity. |
|
Nodor
 |
It hurts your dredit having that many cards open in your name. Especially the ones you don't use. Close them all and get one card. |
|
Elana
|
Nope. It may actually increase your credit rating.
The best thing you can do for your credit rating is be regularly paying off existing credit, paying out some interest. Paying off immediately doesn't help much because the creditor doesn't get to make any money off of it.
However, unless you are using credit cards that way, they would prefer you not have them simply because they represent more ways you can get yourself into trouble quickly. |
|
Phoenix Princess of Darkness
|
While it does increase your debt to available credit ratio (i.e. you have access to less credit after closing the cards, so your debt carries more weight), it will not make a significant difference. |
|
mel s
 |
I regularly go through and close the ones I am not using. I usually go on my credit report (Transunion) and get the addresses of the ones I am not using and close them.
The credit reporters update monthly. If you are going to buy anything big in the near future, ask for a letter from the company stating that the account is paid in full and closed. That is good for indentity protection as well. No one could use that account if they had your information.
Every person gets a free copy of their credit report once a year. It is according to which state you live in. In West Virginia we get ours in September. This is not one of those hidden agenda things. You don't have to sign up for monthly or yearly fees. It is a one time thing. I found a bunch of old accounts that I thought had been closed and weren't. You can sign up over the net. |
|
watashi79
|
Nope! It wont hurt your credit. In fact it provides you with less liabilities if you return those that you do not use, just in case it gets lost or stolen. |
|
curmudgeon
 |
only thing that hurts credit is being late on payments. so answer is no. close them. |
|
Jennie
|
No it won't. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
12 | 5 minutes(s) ago
| | | |
15 | 14 minutes(s) ago
| | | |
15 | 32 minutes(s) ago
| | | |
15 | 36 minutes(s) ago
| | | |
15 | 3 hour(s) ago
| | | |
15 | 8 hour(s) ago
| | | |
15 | 1 day(s) ago
| | | |
6 | 2 day(s) ago
| | | |
15 | 3 day(s) ago
| | | |
15 | 5 day(s) ago
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
