 Closing a credit card with a balance? |
| I have a credit card that I just cannot seem to pay off. I've been trying to pay it off for years now and then I seem to spend on it. It's gotten to the point where if I don't close it,... |
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 I had a Mastercard that has been in collections for 4 years. The collections agency is calling me everyday.? |
| I came into hard times and lost my job a few years ago. Things have gotten better and I am in a better financial state so now I am trying to work on clearing up my credit. I recently pulled my credit ... |
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 Visa Mastercard U.S. District Court Settlement? |
| Has Anyone received a Visa Mastercard settlement notice, where you have to apply to receive money back if you purchased anything internationally between 1996 and 2006? Is the Real? How exactly this ... |
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 I was approved for a personal loan by Countrywide credit corp-has anyone ever heard of them and is it a scam? |
| I have bad credit and it is a personal loan but they want me to put down a security deposit of 1300.00 and to Western Union it to them and they will put the requested loan amount in my account ... |
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 Mortages, been paying for 30 years even though it is contracted for 25 years? |
hi,
ive got a mortage back in 1976 which was for lets say £9,000. it was for a 25 year period. to this day im still paying it and still got about another £5,000 left to pay, never ... |
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 What is a good Make money online site? |
Hi,
Can you help me on what are good money making sites? I Live in the Philippines and I want a site that pays you for making written stuff like Journals, Vacation stories, Essays, ... |
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 Mortgages for people with low credit scores? |
| Need suggestions for reputable mortgage companies, loan companies, banks, who loan to people with low credit scores.... |
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 How can you determine a check is good without going to a bank? |
someone send me a check i want to find out if it good before
cashing it.... |
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 If you have a credit acct that is charged off, can they still send you to collections? |
| I have an account that is charged off. Which means the creditor wrote it off as a loss. Can they still send my file over to a collection agency to collect on it? I now have a collection on my ... |
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 Photo ID required when using a debit card? |
| I just got a debit card, but unfortunately, due to a variety of circumstances, I have no photo ID. My question is this: do you need one to use the debit card? I know the pin number and everything. I&#... |
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 Raising credit score in 5 months? |
| My husband and I are hoping to buy a house in the summer. Right now our credit scores are in the low low 500's. We have about 5 collection accounts ranging from 2003-April 2007. I paid off ... |
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 A lot ofbusiness won't accept credit card purchases under $10 now. Can they do that? |
| I saw a report on the news that said credit card companies do not like that when merchants do that. They said to call their customer service line and inform them of which businesses are doing that.<... |
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| Question about credit cards.? |
Im not really sure how to ask this but here it goes.
Say you get a credit card with a 10% amount interest rate.
You go to the store or wherever and spend $100.
When the bill comes, ... |
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 I have credit card debt $5,000 worth, a car payment of $480.00? |
| I make on average $1,600 a month. I have credit card debt, rent, and car payment. Not to mention maint., food, GAS, clothing, emergency. I can barely save. What do I do. How can I refiance my car if I... |
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 If someone finds bank/cardit cards and they know the pin number, can they use it and get away with it? |
Additional Details
people said on here they can get caught for first time but how unless if they is ... |
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 Will people actually sue me if I won alot of money in the lottery? |
| If I would have won the $273 million Powerball Lottery, will people line up to sue me? They say get a lawyer, but for what reason other than to fight off lawsuits?... |
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 College Student with $9000 in Credit Card debt? |
| Wow! I started overcharging an exorbitant amount, and have now shredded my credit cards and need to stop interest from accruing and stop collectors from calling. I'm going to be in college for ... |
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xbluebellax | Store cards? |
If you have a store credit card on your report..how bad is it really? I know the application itself brings the score down a few points but other than that is there any downside to having one and not using it? |
 |
 
echo
 |
Any application you make, store card or major card will ding your credit.
If you have a thick file the ding won't be as hard and the recovery time will be shorter.
But, thick or thin file, your score should recover from the ding within 6 months and at one year it will be meaningless to most creditors (with the exception of mortgages or other large loans)
Store cards do help your credit though they do not count as high in the scoring models as major credit cards.
That is, of course, that you keep the account in good standing.
Not using the card could have several impacts, such as account closure by the original creditor or being overlooked by the scoring models.
The best thing to do is to use it once every 4-6 months and pay in full when you receive the statement.
You don't have to make large purchases to keep it active and for FICO to include it in the scores.
Purchase something small, even a $5 (+/-) purchase will keep it active and included in your scores. |
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bdancer222
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A store credit card is a tradeline on your credit file and really won't hurt your score. But if you don't plan to use it, why bother? Store credit cards are much more likely to close accounts that are inactive for 6 months or so.
If you really shop at this store or it offers discounts to credit card holders, use the card and be sure to pay it in full. The interest rates on store credit cards is very high. Never carry a balance. |
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edphillipdoles
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Applying for credit does effect you score, but having a store card will not, so long as you pay on time, and keep your outstanding balance low. example $500 credit limit, $400 owed is bad, you are using up most of your credit. $500 limit, $100 owed looks alot better. |
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Uh huh, go on I'm listening
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No. use it, don't, makes no difference. Just if you do use it, pay it on time, like any other debt.
But, no, there is nothing difference between the 2... except that store cards often charge more in interest and fees. |
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U.S.A. GAL
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Just like any other credit card with its own TOS you agreed to. |
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shacker2762
 |
It won't hurt to have it on your credit report. It does increase your available credit and like any other credit card, closing it can hurt your credit. You've already had a hit on your report since you applied for it, don't take another hit by closing it. You're doing the right thing by not using it. If you do use it, make sure you don't max it out and definitely pay it off right away (those things have killer interest rates). |
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Jane D
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Store cards usually hook you in when your purchasing something they let you know if you get this card from them today they will knock off 15% of your purchase this espically is an attractive bate for people purchasing big appliance but i wouldn't go for it. they promise you nice deals for about 6 mths you read the fine print after that its as high as 24% or 28 if you miss a payment and so forth. I would stick with one major credit card and thats it . to many isnt' good and you will have more reason to spend when you dont' have the money.
cut it up my dear. |
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muppetkiller_2000
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I wouldn't have a store card for anyone. |
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Alex
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it varies |
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♥ I am H.e.r. and She is Me ♥™
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I heard that just having a store card makes your credit score go down but having a major credit card makes your credit go up |
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