 If I marry someone who has credit card debit and still owes house payments. Will I be responsible? |
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my rate is 34% I've paid for a year solid and it's still over the limit.
Additional Details
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Additional Details
Thats awesome information by almost all of you, but I have no credit cards. My debt was aquired when my husband left me, with a small child and NO money. Bills went ... |
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how can i make money fast??
10 pts....to most and best answers?... |
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| I need 1000$ Loan... I would be able to repay it seeing as how I am going in the army next month... I need help and FAST... dont give me bone head suggestions like get a job... I think that might ... |
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 Credit card problems? |
| I'm 20 and I currently have two credit cards. The first one I got though, only has a credit line of 200 dollars and my mom said it would increase over time as you make payments. I've ... |
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 I need to borrow 4500.00 pounds. i will pay back 6000.00 over five years at 100.00 a month. can anyone help?? |
Additional Details
I mean does anyone know of people who can help me? and do you not think i have tried my bank???? really bad credit rating.... |
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Valy | To Cancel or Not to Cancel a credit card? |
I own several credit cards, but I just use a couple. Should I cancel the ones that I don't use? What is actually better for my credit, to cancel them or to keep them, despite the fact that i probably won't use them? I feel like cancelling them since it's a burden to keep track of so many credit cards, but I am afraid of damaging my credit history?
What do you recommend? |
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sdmike
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DO NOT CLOSE ACCOUNTS - unless there is an annual fee you are trying to avoid. Having just a few open accounts on your credit report can lower your score.
The ONLY time it makes sense to close out old accounts is if there are late payments reported on them and you are planning to dispute them OR if your credit score on your report actually states ON YOUR REPORT that youhave too many open revolving accounts.
There are too many people here giving shotgun advice on "a friend of a friend" experience. |
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peepsmccoogan
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Keep them. By closing them you decrease your available credit and by doing so,decrease your debt to credit ratio which effects your score. Also, use them from time to time for small purchases to keep them active. Credit cards in "inactive" status also bring down your score |
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TaxMaven
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Look. You are asking the WRONG questions. Why are so freaking obsessed with your stupid credit score? You only need one if you plan to be in debt for the rest of your life. My recommendation is to close ALL your accounts to new charges, then get about paying them ALL off. That would make you DEBT-FREE. Then you would have something much better than "good" credit --- the ability to spend, save & give w/o having to make a bunch of payments every month. Pretty soon, with some reasonable prudence, you could accumulate MONEY in piles. I promise, it is a much more comfy feeling to have MONEY to cover emergencies/big purchases than to fret about my credit score. Your credit "score" has NOTHING to do with whether you are actually winning financially. Please go get a copy of Dave Ramsey's "Total Money Makeover" or "Financial Peace" books so you can get over this obsession with your credit & get a financial life! |
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pinduck85
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If you don't use them, just get rid of them. If you have trouble keeping track of them, you have too many and should keep only the ones you use the most often. Also, think about this: If you have trouble keeping track of them, how will know when you loose one? THAT could ruin your credit when they fall into the wrong hands! You won't ruin your credit by canceling, actually, you just might wind up improving it. |
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Wayne L.
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Close them! It will help you increase your score, at least that shows that you 'don't' need their credit and you can get out of the credit thingy anytime you wants.I cancelled 2 of my credit cards(both paid off) and it does improved my score. Cancelling won't damage your credit - a lot of people said it will hurts your score but trust me, it won't! Just don't cancel the very first one you got because of the length of your credit history. |
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Be Still and know He's God
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I have always been warned that once I start up a credit account, I should keep it forever. I just cut up the card and never use it. By canceling, your credit score goes down. |
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zippythejessi
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If y ou don't use the newer cards, close them first. Part of what affects your credit score positively is having long-term relationships with the same banks. If you've had one card for ten years and the other for three, cancel the three year old one first. |
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Ben Sanchez
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Actually, Do not cancel...I was watching a show, and they explained that if you cancel your cards, it will mess your credit up, however; if you just put them away and dont use them, you will be fine. |
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Enchanted
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Do NOT cancel or close your accounts. Leave them open at zero balance. It shows creditors the amount of credit you have available. Your FICO score could go down by more than 100 points if you close those accounts. |
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Sane
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Cancel them. If you don't use them they are not generating a credit history. |
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Susan G
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Cancelling credit cards is tricky. I would try to keep the oldest and the highest credit limit cards active as well as the ones with the best interest rates that you are probably using. Keep all active if you are planning to use your credit to buy a house or a car in the next year and then cancel them afterward. MSN Money has some really excellent credit information on it and I highly recommend reading the articles. |
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krohnjack
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The biggest component of the FICO score is the percentage of available credit. If you cancel the cards that percentage goes down which will lower your FICO score.
It may be a hassle but charge a little on each card once every three months or so and pay it off when you get the bill. It will show some activity and keep your FICO score up.
The annual fee, if there is one, is another matter.
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katie s
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have it closed per customer request, shows you chose to be rid of the credit card, not the company be rid of you, also make sure they close it per your request. we paid off several small cards and requested they be closed years ago. we just went to purchase a house and these accounts are still alive and well on our report. they are in good standing, but our instructions were not followed |
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cactusone
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that won't ruin your credit. too many cards do. |
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beauty s
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if their o then close them, u should be fine.. |
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jazzviolin
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I believe that if you cancel credit cards that it negatively affects your credit score. However, if you are moving towards becoming debt free you would not want to use them anyway. |
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