 Why is my credit SO bad? |
| I have never had a credit card, mortgage or car loan. I have never filed bankruptcy. I have looked at my credit report and the majority of problems are medical bills. I also have some unpaid utility ... |
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 American Express, Mastercard or Visa? |
| Which is the best credit card to get in terms of UK and international acceptance?... |
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 Where can i get a credit card with bad credit? |
| yea i was wondering anyone knew where i could get a credit card with bad credit and with no annual fee or the fee is included. thanks a bunch.... |
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 Brother that owes me money? |
| Heres the story.. Two years ago i was working full time and making good money. My brother was having financial problems. I took $5,000 of his debt and put it on my credit card so he could get his ... |
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 I have no credit, where can i get a decent credit card? |
| i have no credit yet. and i need credit so i can get certain things i want. where can i get a good credit card when i have no credit?... |
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 I was fired the day after Xmas, they said that I can reapply in 6 months. Would you go back and work? |
| for a company who completely ruined your life? Could you go back and want to do your best for this company when without even a write up or warning just fire you?... |
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 I just turned 18 , how do i build my credit? |
| what are some methods that will help me build my credit i dont have bad credit i have "NO" credit how do i ... |
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 I have no debt, only my student loan which is being paid and is not in arrears. Why am I being declined a loan |
| I was nearly fooled into Yes loans but have gone with best4loans instead. I found out they are a con too. So now I'm applying with black horse, but I'm baffled why I'm not being ... |
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 Purple $5 bank note? |
I have a $5 bill. and on the bottom right it has a big Purple "5"
when did this happen?... |
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 How to get a loan with bad credit? |
About 5K.
In need of good advice.... |
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 How much money do i have to make to qualify for a 264,000 loan? |
| I want to purchase a home that is priced at $285,000 I have 10% down, now I just need to know how much I need to make to qualify for a conventional loan.... |
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 What happens when you just stop paying on a credit card? |
| Seriously, I have bad debt once out of college and this one card has a pretty high limit and it's maxed and I have tried calling them for assistance but they refuse to help me out and lower my ... |
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 What is the best way to get rid of a credit card? |
| I have an aspire credit card which I haven't had any trouble out of but I want to get rid of it before its time for the annual fee of $150. What is the best way to get rid of it. Cancel it and ... |
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 I have $2000 in debt. I want to take out a loan to pay this off. What kind of loan should/could I get? |
| I have almost $2000.00 total in credit card debt, on three different cards.(CitiCards: $1000.00, Capital One: $700.00, and Gap $200.00.) I have cut up all of my credit cards, but have yet to cancel ... |
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 Why would someone fraudulently purchase items on my credit card and send them to my house? |
| Several items were purchased on my debit card and some of the items bought were sent to my house. I can understand why someone would buy something for themselves, but why steal my credit card # and ... |
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 Why do creditors put so much importance in credit score? |
| I mean ok I go to apply for a loan and check my credit score with experian before I leave. Experian says my credit score is a 656. I have no late pays, no over limits on my credit cards or anything ... |
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 Money has gone missing from my account.? |
| I went to head out last night and went to the ATM to get money out, knowing I had at least £60 in my account. It wouldnt let me take it out, said I had insufficent funds. So, I checked my balance ... |
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Army Wife | Is cancelling a credit card after you pay it off bad for your credit? |
I've paid off a credit card and don't plan on using it any longer. The credit company is sending me mailings about how they are decreasing my credit limit and crap because of "deliquency" and other things but I have not used the card in over 7 months and there is no activity on my account. They are pissing me off and I just want them out of my hair at this point. |
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Jenyfer C
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Make sure that your credit record reflects your payments accurately, don't let them get away with false delinquencies!
The only way it could hurt you would be to lower your available credit to debt ratio. A portion of your credit score reflects the difference between credit available and balances. |
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Pam
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It can be. Your credit rating is based on a lot of things, one of them being the ratio of what you owe vs line of credit.
So, if you have three credit cards that look like this:
1. $500 balance on $2000 limit
2. $1000 balance on $3000 limit
3. 0 balance on $3000 limit
then you owe a total of $1500 with a limit of $8000. If you cancel your 0 balance card - then it shows that you owe $1500 with a limit of $5000. Your credit rating may dip a bit because your debt to available credit changed.
check out www.clarkhoward.com |
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Amanda H
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It depends on several factors:
Overall utilization: If you have no balance on this account but higher balances on others-- this account is HELPING your score by lowering your overall utilization ratio.
History: If this is one of your older or mid-range accounts, closing it could actually shorten your average account history.
You better double check this "delinquency" thing-- beucase if they are recording late payments on your credit you need to get that straightened out. Some companies DO have annual/monthly fees, and so just becuase you HAD a 0 balance and haven't charged doesn't mean you still dont have a payment. |
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dances with unicorns
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I'd definitely cancel it; that way, you won't be tempted to use it again, and you don't have to worry about theft or loss of the card. |
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Jill
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Its actually not good to have a lot of open credit cards on your credit report... AND if you do have a few cards open, they should be spread out a little, not all the debt on one card... I just cancelled a few of mine, its good to get that off of there once and a while ... they could look at it like OK that person has the ability to charge that much! |
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KL
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Unfortunately, it's better to keep it open with a zero balance, as long as they don't charge you a fee. The credit bureaus used to report differently, but now they want to see items like this. |
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Grist
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Obviously if you are being hassled, you either don't have a zero balance or have not paid some of the fees that these companies add on at any excuse - annual membership fees, phony late fees, phony over limit fees, etc.
So you can't cancel it without paying what they say you sill owe, and expect to have improved credit. if they are running a game on you, don't pay anything - but either way, your credit is going to suffer. |
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Reaper King
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as long as your credit report shows that the balance due on the card is zero, then cancel it. if it does show a balance then it means that your creditor did not update your report to reflect that you paid off the entire amount. if you close it with a balance due, then it will look bad on your report. however if you close it by your own account and the balance is paid off, then it won't matter. just check your credit and see what the report says about your card in question. you need not fear your score dropping simply bcuz you check it. there are soft and hard hits on your credit. only the hard hits, like from dealerships, cell phone companies, mortgage companies etc, will affect your score. soft hit is essentially YOU checking your own credit and does not impact your score unless you check it everyday for a month straight. then it will affect your score. |
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familysport
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As far as your credit report, it is better to keep the credit card open, but if they are going to reduce your limit, well that can't look good either. I say open a new one and then close the old. |
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BRIAN W
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It is better to have an open account in good standing than to have a closed account. |
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Wendy Jean
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First I would call them and make sure they have your card at a $0.00 balance before I did anything else. Now closing a credit account does hurt your credit score some because it decreases your available credit. After you talk to them though, if they still are you harassing you, I would file a complaint with the Better Business Bureau and close the account. |
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jgurl45
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yes because part of your credit score is a debt to credit ratio. when you close that credit card, the ratio goes down and it lowers your credit score. keep it open, rip up the card, and tell the credit card company to go **** themselves. |
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♥ Karen ♥
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I would cancel if I were you. |
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scottishchristiansen
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no cancelling actually helps your credit because the line of credit is removed from your toatal loanable money so to speak... so the amount you can borrow goes up and the likely risk of you not being able to pay them back goes down. however Applications for credit can lower your score. |
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supercreditguru
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Yes!
I was doing a radio show in Chicago and the host had just paid off all his cards and closed them all. His scores dropped 160 points.
You can call the companies and ask them to reopen the cards with the same account # and ask that your credit history be restored to the credit reports. |
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