 Should i get a credit card to pay off my bills? |
| I have a hospital bill that i havent paid on yet that i was summons to court for ($2000), i have a credit card bill that is deliquent ($2000) and im also getting close to bein late on my loan ($2500),... |
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 I am thinking about getting a loan using a loan shark? |
anyone have any thoughts about loan sharks? any good ones around at all?
i know its not the best think to do but we need the extra cash right ... |
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 Wher ecan i get a 90,000 loan ? |
i need to fnd a personal loan for up to90,000
Additional Details
i have tried at a bank but my credit is not good ... |
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 Is a credit score of 674 good for a 20 year old college student? |
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 What is the FASTEST way to build up good credit? |
| Is it the higher the amount I purchase and the more i pay per month ? Or is it just the fact of paying regulary?... |
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 Can breaking out of a lease early reflect on your credit? |
| I'm just curious to know because my wife and I are looking to buy a home.........but we are locked into our rent for 7 more months. We don't want to let an opportunity to own slip by in ... |
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 Why do "wealthy" people use credit cards? |
| if wealthy people have money,why pay interest?why not use bank cards?... |
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 I let my fiance get a car under my credit. Any advice for being smart about this? |
| I (24) love my fiance (29) very much and we plan on getting married soon. He has been paying $700/month (for 3 yrs) for an old car that has been a big bill for him. The other day we went to a car ... |
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 If I pay everything I owe on a card that has gone to collections, will it be taken off my credit report? |
| I paid off a debt in full and I was told by the collector that no one would know about the debt after it was paid, but it is still on my credit report. It has been over 6 months.... |
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 I need a big loan.? |
| I have had perfect credit for four years. I am looking to get a huge loan "$400,000" to purchase a Subway resturaunt. I have worked for the owner for seven years and I think he will co sign.... |
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| Does anybody know if doing paid online surveys actually pay you? |
| i been looking at working from home options on the net and i'm wondering if these paid online surveys are worth doing or are they just a scam?... |
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 Can anyone make an argument for the use of credit cards? |
| I cannot find one reason people use credit cards instead of just paying cash. It appears to me that it is just playing with snakes, and even incentive cards have high interest rates and outrageous ... |
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 Was I a victom of a credit card scam? |
| I just made a transaction on my credit card from newegg.com. Just after I submitted the order, A screen from my bank (HSBC) asked me to set up a password for protecting my credit card during online ... |
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 How should I Start building myCredit history the right way? |
| I never had credit im 18 now!!! And i want to buy a preown car in the next 3 yrs. So im asking what should i do to get good crdit fast and what can i do with it.... |
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 Cancel my credit card? |
| I've had a BoA credit card for about 4 years now, I just got the balance to 0$. I'd like to cancel the card, but have heard both side of the story of it hurting my credit and not hurting ... |
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Danni | Do you cancel a card that has been paid off especially if it has a high interest rate? |
example: to pay off credit card you should payoff the one with the highest interest rate. This advice was on Yahoo finacial page, but it did not say what to do with the card after it was paid off. I heard if you cancel the credit cards your credit score is lowered. So what do you do with the card? |
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CommonCents
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You are getting some REALLY bad advice here!!
You ABSOLUTELY get credit on your score for the length that a credit card has been open. If there is no annual fee, DO NOT close it.
Use it every few months for a few purchases, and pay the bill in full when it comes in. You will not pay any interest if you pay it on time.
The more open credit that you have and the less that you use shows the credit bureaus that you are not desperate.
To get a good mortgage loan, they like to see at least 4 different credit accounts that have been open for AT LEAST 2 years.
If you pay a credit card off in full after you use it, who cares what the interest rate is, you don't pay any.
Your credit score ONLY goes up by using credit and paying your bills on time, it doesn't go up by cutting up your cards.
It's better to use a few cards sparingly and pay all bills on time than to use 1 card only.
You only got part of the information correct. |
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heart o' gold
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Don't cancel it, just hang onto it (not in your purse) and don't use it - it will show as a good and current account on your credit report.
I've got two accounts I haven't used in 20 years that show as current accounts on my credit report. |
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Katherine W
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NO! Do NOT cancel the card. That is worse for your credit. Part of your credit score relies on having cards for a long time, so keep this card and use it once every five months or so, and pay it off immediately: don't carry a balance. Also, part of your score relies on having credit, so closing the account reduces the amount of credit you have. Instead, now that it's paid off, call the company and negotiate for a lower score, saying you won't use it if the score remains high. If they say no, wait a month and call again: sometimes a different person will say yes to you. Also, learn from this to pay off your credit cards each month and stay out of credit trouble. |
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bkgrl718
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I just keep them but barely ever use them unless I really need the cash in case of emergency |
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Heather
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Keep the credit line open. Having credit lines that you have had for a long time, and available credit on your credit report will look better for you. Cut up the card if you want, but I would leave the account open. |
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Expert Realtor
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Great question. My advice is to leave the account open (which helps your score) but not use the card anymore, unless you are going to pay it in full every month.
Closing accounts typically lowers your score because it appears you have a "younger" credit history than what you actually do.
The interest rate in a card should not concern you, if it's paid off every month. I actually carry a store card that has a whopping 26% interest, but I also get as much as 30% in discounts when they have sales if I put my purchases on the card, but as soon as I get home, I send a check, so it's no different than if I paid cash the day I make the purchase.
Just keep the card at home, and all should be well. |
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xphillipjrx
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Make sure you have at least three items reporting on your credit or else you won't get a score due to lack of history. If you have three or more loans/cards then cancel that high rate card. It won't mess up your credit by cancelling. |
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hi_iduntcyber_doyou
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call the credit card company and try to talk them into lowering your rates by saying your going to cancel your card and go with someone else |
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Luke D
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Keep it, and rarely use it. If you do use it, make sure that you pay the balance in full each month.
Of course this advise only applies to CCs with low or no annual fees. If you have a high fee just for having the card, or one that charges a "participation fee," cancel it immediately.
You shouldn't worry too much about how closing a cc lowers your score. Your credit score is primarily composed of payment history and debt amount. Everything else is nickles and dimes. |
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Chef Frisbee
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Cut it up in microscopic pieces |
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j81s79j06
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I've not heard that, but if that's the case, simply cut the card up. You should be able to close an account like that without being penalised though, leaving it open and unused could leave you open to fraud or theft. |
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Sebastian
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You should pay off the Credit card balance in full rather than pay finance charges each month.
Your score only goes down if you cancel a card immediately after you received it. It shows the credit bureau you cannot maintain a card. Of course your score goes down when you get a new credit card but if you maintain it, your score will go back up with the payments you do on time.
It's best to keep a card for a year minimum before closing it. Just keep the card on the side and use it for emergency. |
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Jen
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you can cancel it if you want but if it is the only credit card that you have then I would just cut it up and leave it open if you don't want to use it. If you have other cards go ahead and cancel it. |
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cherry_grape1
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that is not true of what they said. just cancel it. |
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