 Credit card question? |
| If I have a balance of $351 on a credit card and the interest rate is 29.99 % APR how much will it take me to pay it off if the min. payment right now is $50. Also, How much money will I lose by not ... |
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 Who can I contact in regards to a law firm harrassing me about a credit card account I have no knowledge of? |
| I have been contacted by a law firm who is threatening to sue. They only have my name. No phone number (They called my parents?), no address, NO SOCIAL SECURITY NUMBER, nothing on any of my credit ... |
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 How can I up my credit score 10 points - FAST!? |
| Im trying to get a mortgage, and FHA loan and my credit score is on 570. I need a 580 score to qualify. I have opened to credit cards and have been paying them on time, they have helped my score a ... |
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 Should I pay off old debts to improve credit? |
I have a few negative credit marks on my report.
I was wondering if I should pay off debts that are only like 2 years old because I am wanting to finance a car and eventually a home...
I ... |
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 Where can you get a FREE credit report? |
Now, I'm not talking about a website where you are ultimately charged for some sort of package or program -- JUST the credit report itself.
Help?... |
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 How to Cash My Check? |
HAPPY CHANUKAH!
so I recieved a check for my chanukah from my uncle, how do i cash it? I mean I do not have a bank account at all and I am not going to get one either so how do i cash a check?<... |
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 I need some extra cash? |
| I work full time but really need some extra cash I would be willing to work from 6pm - 11pm most nights and also weekends. What type of job could I find that would fit in with those hours also any ... |
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 Bad Credit At 18..but before I was legal.It Wasn't' Me.Help Me? |
| I have just recently turned 18 years old last month.I applied for a credit card but was denied. So I decided to check my credit report.Anyway,I discovered that things such as credit cards were taken ... |
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 Have you ever been in over $50K of debt, & eventually got out of it? Is it possible? |
I'm talking about credit cards, student loans, lines of credit, financing cars, homes, etc.
How did you do it? I know you had to work, but did you have to work enough to be ... |
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 Extremely bad situation need credit advice? |
| I got my first credit card when I was 18 thinking I was cool now 23. Now I have 6 in total credits cards all maxed out about 7000 in debt in all 6 not to mention almost all are written off since I ... |
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 Will they catch me if I...? |
| order a magazine in someone else's name with payment option of "Bill Me Later"... |
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 21 and need help badly with credit repair.? |
| I am 21 and have a 550 credit score. I am buying a new truck in a week or two. I got an interest rate on 24000 of 23% I have had my credit reprt for about a month. I have about 10000 in debt some ... |
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 Second Chance Banking or Best Prepaid Debit Card? |
| I've been on a quest to find the best prepaid debit card. I used to have one through Virgin Mobile that allowed you to pay a direct fee monthly and you could use the card as often as you liked. <... |
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 Where to get a credit card for someone with very little credit? |
| I'm sure many of you have been in the same boat as me. I'm 24, not much credit to my name and I've tried about 5 different places (Amazon, Ebay to name a few) and all have rejected my ... |
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 I'm new to the USA, how do I start credit? |
Hi, recently I moved to the USA, right now I'm seeking to complete my steps of the USMLE and hopefully getting into a residency program at a hospital near 'home'.
Thing is ... |
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 Cleaning up credit? |
| I am working on cleaning up my credit after some hard times. I have a few things that have been sent to collections. Is it better that I pay the collection agency or the place where the debt ... |
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 How do i get out of credit card debt? |
| I am being smothered by credit card debt please ... |
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confidential0908 | Is it okay to cancel credit cards that you no longer want? |
My friend told me that if you close a credit card account that you no longer use that it looks bad on your credit. Is this true? For example I just applied for a United Airlines Visa card that is free for 12 months. After 12 months the annual fee is $60 per year. After I have gotten my free flight I plan on cancelling the card after 11 months.
Additional Details
I have a Discover Card that I have had for 7 years. I have a Chase Mastercard that I have ahd for 4 years. |
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lidlwig
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your credit score short term will show an effect for closing down these credit cards but it is usually just a couple points and no real major damage, but it comes back up within a couple of months after wards |
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www.GetTheExperts.com
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Pay the balance off first and have the Credit card company direct you to the place in their contract that says it is ok to cancel and reasure you that they wont make a negative report on your credit. Make sure you talk to someone who really knows not someone who says "I think it will be ok."
Hope this helps. |
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jardinee
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You can cancel them at anytime. Eventually, lots of rotation among cards will be reflected in a lower credit score but you will be the benefactor of free flights! |
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SPIFIMAN1
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Your friend is wrong.
If you have the other two cards for the time you say the effect on your credit will be nill.
The only way it will effect your credit is your credit to debt ratio will change since you will no longer have the credit line of the closed card. |
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stephenweinstein
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Do not follow Christina's advice. Even if you cut the physical card, you will still be charged a fee as long as you have the account open.
Having had some accounts for a long time is important, but since you want to cancel a new account and keep an old one, you should be fine. |
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vis
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you should be find to get rid of it since you have the other two.. but you could put it up and keep it for a emergency only. that way you have it incase you need it and dont have to wait for another one to be mailed to you |
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falisrm
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It's up to you if you want to cancel. The credit industry looks at the time you have an account open in order to establish a long credit history. your credit score will be lower if you dont have any long term credit, including credit cards. |
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CarmenNR
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Hello:
I do recommend to keep your account open/active as that is your credit history specially with credit cards.
Other creditors will see that you have a good history because you have accounts for more than 24 months.
However you can always close them and in some cases they might re-active the account if you request it. But it's always better to show your ability to handle credit cards. Now, on credit cards you don't need to have high balances, the key to have a good credit is to have credit cards/revolving accounts with low balances and with a long period of time.
I hope it helps! |
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christina m
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keep it open, just cut the card |
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