 Please please please help!!!! PLEASE!? |
| To make a long story short, I tried to get my credit report information online from annualcreditreport.com, and it asked those personal questions confirming who you are. It asked what company i took ... |
|
 My sister used my daughter's name for a credit card? |
| I believe my sister used my daughter's name who is 5, to obtain a credit card. The purchases where around 300.00. I am not going to press charges. But does anyone know what will happen during ... |
|
 Cleaning your credit? |
| I recently pulled of my credit report for the first time in 3 years. It is pretty bad. I wasn't sure if I should us a clean credit company to help get my credit score back up....how does that ... |
|
 Visa debit card needed - which ( UK) bank ? |
Hello,
I need a Debit card to use on many internet websites and international, like visa. Do you know wich bank offer (only debit) visa cards in uk ?
thank you
Additional ... |
|
 Is there any way to buy things online if my parents REFUSE to let me use thier credit card? |
i have so many things i want to buy online that arnt avalible in stores but my parents wont let me use thier credit card...is there ANY way to get the things i want?
Additional Details
... |
|
 Does creditors fall off after seven years? |
| what i mean is my credit is shot the only thing that is a constant are my student loans... i have three or four credit cards that did not have no more than a 500 dollar credit limit but i defaulted ... |
|
 How much is too often to check your credit report? |
| I know if you check it too much it can be bad.... |
|
 What's more important earning more money or saving money? |
| There is a saying "It is not how much you make but how much you save"... |
|
 Am I doing the right thing with my husbands bad debt? |
| My husband has $20,000 in debt in occurred before we got together.12,000 of it is past due things he has stopped paying on, the other $8,000 is his car. I want to sale the car and get a junker for $1,... |
|
 Credit card? |
I'm trying to find my first credit card but i have no idea what to look for or where to look for it.
I just turned 18 an i do have a job but it doesn't pay much so i need one with low ... |
|
 I'm 19 and I Have NO credit....? |
| i'm 19, i don't have any credit, i don't have anything in my name, not even my cell phone (it was my mother's bright idea to put it in her name, worst mistake ever). i have a ... |
|
 How do you pay your credit card to start to raise your credit? |
| i just got a credit card and im want to start building credit.... i was wondering what would be the best way to build credit.. i have heard i should only take care of the minimum, or something along ... |
|
 What is the easiest way to payoff credit card debt? |
| There are tons of credit card offers at 0% on transfer balances, is this the way to go? I know, read the fine print.....What's the most logical way?... |
|
 I just got a call from a collection agency about chase card I have that i have? |
| not been able to ay since I lost my job, he said if i dont ay by the 27th they are taking me to court. What does that involve, he was very abusive to me and called me names and said i was not an ... |
|
|  |
SALTNPEPPER | Once a credit card is paid off, will it help your credit score to keep the acct open or close it out? |
I have been closing all of my accounts out once I pay them off, and my brother insisted that I stop that and keep them open even in I plan to not use it again. What is the best thing to do to increase my credit score? |
 |
 
Megz
|
It's good to keep them open b/c it shows that you have a good credit-to-debt ratio. Just because you pay it off doesnt mean you have to close it....you could cut it up and just not use but keep it open. It will show credit companies that you have a good amount of credit available to you. |
|
SPIFIMAN1
|
Keep at least 2 open (the ones with the highest limits) and use them for everyday things never exceed 30% of your credit limit in any given month and pay in full before the due date.
I did this same thing and raised my score over 150-points in 24-months.
O.B.T.W. even on the closed accounts the pay history will still show on your credit report. |
|
BMW BFD
|
If you keep them open then it help you because you have X amount of available credit to use but you only owe X amount of dollars. Also, if you have 2 or more major credit cards it also helps. |
|
Queen B
 |
well it depends on how many you have. i would keep at least one or two active and cancel the rest. its good to have open credit but not an abundance of it. |
|
J E
|
If you have a high limit, keep the card. The more available credit you have (that is, credit available, but not used), the better it will look on your credit.
Basically, if a credit card company likes you enough to give you a ten thousand dollar limit or something, and you don't have it maxed out....a lender is going to like the looks of things with you. |
|
stephenweinstein
|
You should keep the oldest ones open, but because the length (number of years) of your credit history helps your score.
Whether closing the newest ones is wise depends on whether the total of your credit limits is (a) high, relative to your income (close some) or (b) low, relative to your total debts (do not close any). |
|
Ask M
|
it is better to close them now and have it reflected
on your report for awhile, then be denied later because
although you have zero balances and haven' t used
them, you could at any time. |
|
Esmerelda
 |
Having a couple - and I mean two or three here - of open and paid accounts is good. Shows you aren't using up every dime of your available credit and that you pay on time. Serves as credit references should you decide to take out a car or mortgage loan.
Too many says this person is a risk. |
|
Tim M
|
It depends. If it is your only one, I would keep it open with a zero, or very low, balance. If you have others, closing it out will help to keep your total potential liability lower. It is not much difference either way though. |
|
zyberianwarrior
|
keep at least one active |
|
LeAndra
|
If you don't have more than 4 or 5 keep it open. Having that history is great for your credit. |
|
Suzy
|
Close the accounts you are not planning to use. Even with a zero balance, lenders view open accounts as a potential debt for the card's limit. |
|
Nikolas M
|
You need to strike the right balance in your decisions. The average length of time your credit card accounts have been open is an important contributer to your credit score. So the accounts that have been open longer are more valuable in this regard than the newer accounts. But if you have too many credit card accounts, your credit score would not be as good as it would be if you had all of that outstanding credit on fewer accounts. And if you close an account that had a large credit line, you could skew your debt-to-credit-ratio.
Here are two examples that may require different choices:
1) You have 20 credit card accounts with equal credit lines, no balance on any of them, and they have all been opened for the same length of time. In this situation, I would feel very comfortable closing one or more of the accounts.
2) You have 3 credit card accounts. One has been open 10 years and has a $5000.00 balance on a $7000.00 credit limit. Another has been open 5 years and has no balance on a $2000.00 credit limit. And the third has been open one year and has no balance on an $8000.00 credit limit.
It seems like closing the account that has been open one year would help right? But it is not so simple. Your debt-to-credit ratio is .294 when all three accounts are open but jumps to .556 when you close the account that has been open for one year.
So, take these things in to consideration before acting on your brother's advice or making a different decision. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
13 | 29 minutes(s) ago
| | | |
13 | 40 minutes(s) ago
| | | |
13 | 42 minutes(s) ago
| | | |
12 | 2 hour(s) ago
| | | |
13 | 4 hour(s) ago
| | | |
13 | 6 hour(s) ago
| | | |
14 | 9 hour(s) ago
| | | |
13 | 1 day(s) ago
| | | |
12 | 5 day(s) ago
| | | |
13 | 6 day(s) ago
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
