 Which credit card is better for a persons 1st credit card, espically the age of 18 years old? |
There are many credit cards.
So many to choose from, so many options, & the ones that charge a lot of money b/c of it's late fees.
Which credit card is good for me? I'll ... |
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 I'm in credit card debt, what can i do? |
| I am currently in credit card debt. I am a college student and I have recently ran into money problems and have not paid on my bill. They now are charging me 30% interest and my bill keeps getting ... |
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 This question is about % on money? |
if someone had $100.00 and they said they are going to give me 10% of that $100.00, how much would i be getting?
Also i want to know that same question with $5000.00,
what is 10% out ... |
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 What if a collection agency calls you after 10:30 pm? |
| Do we have to pay a Collection agency who calls you after 10:30 PM or can we have them ordered to stop ?... |
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 I want to clear my credit score.....? |
| I just payed off my last debt today.Apparntly it takes ages for your credit score to clear? Is there anyway i can pay to get it wiped and start from new?... |
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 Could I get a debit card at the age of seventeen? |
| Not a silly debit card you can only use in certain places... a proper one, like a Visa or something... I'm in the UK by the way...... |
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 Does it hurt your credit score when you check your own credit report? |
| I have been told that every time I order my credit report, my score goes down. Is this true?... |
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 Does debt get wiped automatically after 5 years? |
| When I was 18 I got a credit card and when I was 20 I was about 10,000 in debt. I was having nightmares and felt suicidal. I was scared and I didnt have a job, the debt collecters were ringing all ... |
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 Can I make a credit card payment with another credit card? If so how is it done? |
I have a zero interest card and I want to move the balance from the high interest card to it. I already transfered the maximum balance to the zero interest card when I signed up for it.
A... |
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 What Credit card could I apply for with bad credit? |
| I've called 4 credit card companies now, chase, american express, discover, and Capital 1. and I'm declined because I have bad credit. But, when I talked to a credit specialist, he said to ... |
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 Can I pay my credit card before I get the bill? |
I want to clear it because I am off on holiday.
Sorry for my ignorance, first card I have ever had.... |
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 What happens if my truck gets repossessed? |
| I put a truck in my name for my bf at the time(my ex now) He made all the payments for a year so I had no problem with keeping the truck in my name because he had bad credit. But now, he is in ... |
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 How can I build up my credit? |
| I'm a freshman in college and I just got a job part-time job and I'm interested on building up my credit. I have no idea how. Many tell me to get a credit card, but many others tell me not ... |
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 Hellp me please, i have a brother who dose not live with me and uses my address as his mailing address? |
| and he has debt collectors ringing my phone all the time threatening me ' can they legally do anything to me ? like try and take my stuff ?... |
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 Can we put money in PayPal from debit card? |
| I mean in paypal accound to buy stuff from E-bay, can we put money in in from our debit card or chequing accound, but not Credit Card. THANKS... |
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 X spouse call my credit card company and had a card mailed to a different add. can I be held responsible? |
| My X wife applied for a credit card( so she say) at a company that I currently have an account with a $0. balance and had not charge on in the past year. She was once on the account but never ... |
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 Debts owed haven't dropped off credit reports way past 7 years SOL why? and Waht to do? |
| I am helping a friend with this issue. And they inccurred lots of credit card debt back in college and then blew it off. Totally blew it off for over 9 years. When I learned of this I told my ... |
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floridafan | I have no credit card debt but have multiple credit cards. Can I close accounts without hurting my credit? |
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sandman
 |
Sure...keep a couple of the oldest accounts |
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GUS
|
It's impossible to tell what will happen to your FICO score if you close accounts. You may have enough other good credit so that it will have little effect on your FICO score. On the other hand if you were to close two or three very old established accounts it could hurt your score significantly. Most credit gurus advise that you not close accounts unless they are charging you a fee. That's a great idea as long as you have the self control not to use them. Good Luck! |
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cireengineering
 |
Yes. |
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The Debtonator
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You DO NOT want to close any accounts. Keeping them open will actually improve your credit score because of the credit to debt ratio. Closing them will lower this and quite possibly affect your credit score. |
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Lele44
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Credit scores take into account many factors, such as amount of open credit and credit history. You may be able to close some of your younger cards and have little effect, just don't do it right before you are planning a big purchase such as a house. If you do it during a time you are not planning any major purchases, your credit score will recover the slight hit. go to www.fico.com for more information on credit scores. |
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frustrated writer
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Yes,just keep one or two that you really need. Get rid of the rest. As long as you show a good payment record on the one or two that you do keep, you'll be fine. Sometimes,having too many makes you look like a credit seeker which not all creditors like to see on your record. |
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Elana
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Sure. The thing that hurts your debt is when you
renig on a debt, or pay it slowly.
Its probably a good idea to have two cards - but
no more. |
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krafty1
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Yes, it will help your credit not to have open lines. |
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beauty s
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yea if some of them are 0 balances, then close some of them |
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See Saw
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If you are caught in the credit card debt trap, approach a debt consolidation company for help, instead of paying high rate of interest to your card issuer. Most of the debt consolidation companies provide loans to help you tide over the credit card debts. These loans are known as credit card debt consolidation loan. The advantage of this loan is that you are charged a low rate of interest. The difference between the interest charged on the credit card and the interest on the credit card debt consolidation loan is substantial, saving you quite a big sum of money. |
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lilpuppy6
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You have been given bad advice it seems in response to your question.
DO NOT CLOSE ANY of your credit accounts. It Will hurt your score if you do.
The best way to handle this ..is to spend only a few dollars on each card every month, and continue to pay on them.
HOWEVER...the "youngest" acocunts; you should inquire with those companies requesting a low credit limit of $300 maximium.
ONLY keep your 2-3 oldest accounts at full capacity (credit limit) the rest cut the credit limit..but continue to charge small amounts and pay them in full monthly; to continue to build your score rigorously.
Good luck. |
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foxy
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you must write to each company asking to cancel their card,they will write back to confirm and sorry to lose you bla bla.....if you have a bank account then keep a debit card and a credit card with your bank if have one,use online banking ,draw money while abroad from cash machine and pay back before due .......have done this several years since i too canceled 5 cards |
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Akbar B
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Close out the latest ones first and keep the oldest ones, that way you won't hurt your score. |
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Gwynn T
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I specialize in this, and am a trained professional. PLEASE LISTEN TO THIS.
Little puppy is the closest to the correct answer in all but 1 aspect.
If all of your credit cards are paid off. Use each one (if you have twelve other wise dived up to the year example 4 cards/ 12 months= 1 every 3 months.) Use each card once a year, or up to 6 times a year for 10% of card limit or less.
Pay off that month.
Example: $500 card uses no more then $50 or a tank of gas. Pay it off before the due date. This will keep your accounts active, but will charge you no interest.
Use one at a time. Lock your cards in a firebox or safty deposit box to avoid identy theft.
For every card you close will cost you upto 30 points each that is non-recoverable. To get a high credit rating, the repositories look at how much you owe vs. how much you potenially owe. If you owe nothing and can borrow nothing, you get nothing. If you owe nothing and you can borrow $1500, your score improves. If it is maintained this way for 6-12 months (pay history) then you get extra points. |
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