 Credit cards? |
| what is the best store to get a credit card from? i want to build up my credit to buy a car later so i dont know i was thinking macy's or jcpenny? which one helps your credit the most? or what ... |
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 How can I buy from Mastercard/VISA only websites, when I only have a Discover card? |
| Can I buy a prepaid VISA, or MC with my Discover card? If so, where can I get a prepaid card?... |
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 I'm looking for a personal grant to get out of personal and a school debt.? |
| I have a student loan that is more than $10,000 and I've accrued a personal situation of more than $300,000 (which includes bills that have gone unpaid maybe since 1995). I also want to make ... |
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 A lot of people are saying credit card is evil and avoid it if you're a student but...? |
| isn't credit card needed to build credit score, which is needed in many aspects of life? For instance wouldn't a student with good credit score have a better chance of securing a job than ... |
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 Will having a high credit limit on my card increase my score? |
| i have a card with a limit of 2,000 and one with 500 pounds, im only 18. i really want to build a really good credit score for buying a house in a many years time. will asking my card issuers every ... |
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 I'm trying to rebuild my credit, just looking for "easy" to get credit cards, no secure ones. Thanks. |
| It's pretty much what I said, trying to rebuild, looking for credit cards that don't require much of a history and no secured ones. Thanks for any help or suggestions.... |
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 How do i establish credit in the USA? |
| having recently moved to the USA , how do I take out say a credit card or open a bank account here (in the USA). what do I need and does my credit from the UK affect any USA rating I may get.... |
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 Identity taken? please help, I think my neighbours have taken my son details and applied for credit!!!!!? |
| How can I find out if they have? I don't really want to pay, why should I? Can't really go into detail on here regarding my neighbours but this wouldn't be the first time they have ... |
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 How do i establish credit? |
| i have no credit and wanted to know how i would qualify for some type of credit card, i tried going to a bank credit union and they were having problems giving me an account since i had no credit, ... |
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 How much does a prepaid visa card cost? and how much can u put on it? |
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also is there a expreation date of the card???????... |
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 A debt of over 15 year old? |
| a debt agency says we owe money from 15 years ago! Can they still try and get the money back?... |
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 Victoria's Secret angel credit card? |
My girlfriend wants to get an angel credit card from Victoria's Secret. If she applies in store, will she be able to have it that day? How does the whole process work?
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 How can i build my credit? |
| I am young and have been trying to establish some type of good credit. Besides the normal- renting an apartment, buying a car, having bills in my name, making sure i pay on time, and applying for ... |
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 How much could someone actually do with a million dollars(like give examples!)? |
| It just doesn't seem like that much money to me. Someone asked on here, if someone offered you one million dollars would you stop watching television forever and I said no, even though I barely ... |
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 I have a credit score of 575? |
and i payed down half of my credit card. and payed off a collection do you think it should bring my score up by 5 or more points did this biginning of last month
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also ... |
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 I'm broke and I can't pay my credit card... what should I do? |
| My company closed and I'm out of job at the moment but it would take some time for me to recover financially. I can't pay my credit card. What should I do? Please help...... |
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lisamarie1206 | Does closing out credit card accounts lower my credit score? |
I would like to close out several of my open credit card accounts that are never used. Is this going to lower my credit score? Should I space them out, i.e. one per month or so? The more info you can provide to me, the better. Thanks so much!!
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In particular, how would closing out store credit cards (ex, Sears, JCPenney, etc.) affect my credit score? |
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Credit Guru
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Yes Closing out open credit cards will lower your score. It's all based on Credit Utilization, i.e. what percentage of your open credit lines are you currently using. FICO credit scoring adds up all your balances and all your credit lines to determine part of your credit score. The best is to have zero utilized but up to 25% is OK. If your utilization is higher than 25% it will definitely lower your score.
I would look at your whole revolving debt picture before closing any accounts. Put the cards away in a safe place and don't use them for 6 months and then decide if you still want to close those accounts.
Good Luck |
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Eric Ewanco
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It depends. If you have "too many" accounts (say six or seven), it would be good. If you have "too few" (say 2 or 3) it would be bad. If it's an old account, it could be bad. There may be other factors. |
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MR. Tumnus
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Yes, it will lower your credit score. I would definitely NOT do them all at once. Do one once a month. Having all that credit open is actually better for future mortgages and large loans, because it shows you're responsible enough for other places to give you credit. But I understand not wanting them sitting in your wallet "nagging " you. |
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PlasticTrees
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That's a tricky question. I worked in collections for a few years and I was always told that it doesn't if you pay off your balance in full after you close it. |
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julia4evert
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If they are older accounts like over 3 years then keep them opened, the newer ones no, close them. |
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spot
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Store credit card limit is normally pretty low. It shouldn't really matter closing them all at once if you have enough credit from regular card like Visa. Credit score is affected only by closing the cards, your available credit dollar amount goes down significantly. |
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amchaseltine
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no def. not |
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acveach
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I guess it depends on how the rest of your credit is. I paid off both of my credit cards that I'd had for at least 3 years and closed the accounts and my FICO score has gone up over 40 points. |
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MJ
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No credit cards is a good thing. It allows you more a line of credit because you owe no money so creditors are more willing to lend you when you need. Pay them off, get rid of them, be credit free!! You lucky duck! |
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LORD OFEVERY ONE IS HERE
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maybe |
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hitmewithyourquestion
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yes it will |
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