 Can a 15 year old have a check card? |
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 Bankruptcy and pets? |
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| I am in dire need of a house at the moment. We can afford quite a few around the city but our credit score is currently 565. There are several items on our report that were charged off in chapter 7 ... |
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 Credit cards?? |
I dont really no anything about credit cards but i need 10,000 pounds. I have a few questions.
1. how mnay credit cards can you have?
2.when do you pay back the money?
3.how much money ... |
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 I applied for a store credit card and i was denied why? |
| I dont have any other credit cards so i dont have good or bad credit i have no credit why didnt the accept my application Im old enough to have one im in my 2nd yr of ... |
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 If you're trying to re-build credit, is it worth keeping credit cards open even if they charge an annual fee? |
| I've paid off all my debts on my credit cards but I've been told not to close any of them as I'm trying to re-build my credit. But is it worth keeping them open if they charge an A... |
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 What's the best credit card for college students? |
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 A visa debit card? |
| i was curious.. when you buy something online with a card, it says enter card number. After you have entered it wouldn't the seller be able to steal all the money in your card instead of taking ... |
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| Okay, so I made some mistakes when I turned 18, you know, like getting 5 different credit cards and maxing them out. I've actually paid all my balances down (including paying off 3 of those ... |
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 Do the type of purchases made on a credit card have any beneficial affect on your credit score? |
| I'll give an example. Say I use my credit card for necessities like family groceries and gasoline, as opposed to non-necessities like games, jewelery, or new room furniture. Does this have any ... |
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 If you purchase something on CREDIT with a debit card, how much time are u given to pay it off? |
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 Credit card? |
| im 21 and i want a credit card. dont say i dont need one. i have a job and i want one. what is the best credit card to get for starters.... |
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| Is it true that my credit may suffer if I cancel a credit card? |
I've got a credit card with no outstanding balance. The company cancelled the rewards program for which I originally got the credit card, and so I want to close the account. But my father tells me that I should keep it open while not using it, because cancelling it would harm my credit. Is that true? Does it harm your credit just to cancel a credit card? That doesn't make much sense to me. |
 |
 
OC1999
|
As strange as it may sound it COULD harm your credit. The credit scoring systems look at several factors.
One factor is your credit age, so if this an card you have had a long time and you close it you have basically shortend your average age. This could lower your score.
Another factor is your Credit Utilization. They go off of your Total Credit vs. your credit used. So if all of your credit cards together have a credit line of $5,000 and you have an overall balance of $1,000 your utilization is 20% and is considered good. But if the card you close has a $2,500 limit your new total available is $2,500 with the $1,000 used your utilization is now 40% which is getting high.
But if it has a low limit and is relativly new in your history closing it will have little effect either way.
If they are charging you any fees closing it would be better to avoid the fees. Otherwise just keep it open and don't use it. |
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azitnay
 |
It won't definitely hurt your credit score, but it's very possible. Read this article to find out why:
http://money.aol.com/bankrate/credit/canvas3/_a/cancel-a-card-hurt-your-credit-score/20061129154909990002 |
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Jimmy
 |
It all depends. Credit cards will help your score if you keep the balance under 50% of the Max. If you are looking for a mortgage or a car, it is a good idea to keep 3 tradelines open. Most Mortgage companies require 3 tradelines. If you have a few cards, cars or installment loans in your name, there would be no reason not to close the account if you are not using it. The less credit cards you have, the lower the risk of having one of those numbers stolen. |
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WannaRetire
|
Ok, ok, we know what you're thinking: 'I've got an unhealthy number of credit cards in my wallet, I think I'll start closing those out to help my credit score.' Not so fast, warns Steven Katz, a spokesperson for TransUnion, one of the country's three major credit reporting agencies.
Since part of your score is based on the length of time certain lines of credit have been open, closing out that 10-year old credit card could take a bite out of your credit score.
"It's negative because it's taking away a reference to a positive credit history," says Katz.
And if you are trying to trim down your debt by hopping from one low-interest rate offer to the next, closing cards along the way, Katz warns that kind of behavior could send a message to future potential lenders that you might be a credit risk. |
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No-Dogg
 |
As long as you have paid off your outstanding balance you should be fine. When benefits or low rates for my credit cards are cancelled, I just make sure I pay my balances and switch to another card with benefits. There is no point to having an open credit card not being used because it's something else to forget about. What happens if it gets stolen? |
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B & K
 |
No, it will help your credit because it will be one less "open" account on your credit statement. Too many "open" accounts hurt your credit because companies think you may get yourself spread out too thin.
If your credit is established and your score is high, the effects of an "open" account is minimal. If you do not have credit or bad credit, an "open" account may hurt your chances of opening another account. |
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boo's mom
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No, it doesn't harm your credit to cancel a card. If anything it helps it by not having as many open lines of credit.
Now, if it's the only credit card you have, you might want to reconsider closing it. It's can be more difficult to get a credit card if you don't already have one. Weird, but true. |
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Just needen help!
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No, it will help your credit. If you have a card and it has no balance and you don't use it cancel it. The longer it stays on your account with a 0 balance the more harm it does. |
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*Some crazy girl*
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NO |
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