 I need Help!!! Credit Report is Wrong? |
| My credit report says that I opened a mortgage loan in 2002, but I was overseas during that time and just realized this when trying to get an apartment here in the states....I believe it is the house ... |
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 Are there only 10 $2 bill in the world? |
| My friend says that there are only 10.... |
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 Is having a loan good or bad for your credit score? |
| I want to apply for a stafford loan because my grant isnt enough this year and they wont give me money for summer classes. Is getting a loan good or bad for credit. My parents are going to pay for it ... |
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 BANK OF AMERICA SCREWED ME OVER - I NeeD HELPP!!!!!? |
| I have a checking and credit card with them. I set up my credit card payment to come out on the 10th this month online via bill pay, for some reason it came out on the second, and they are telling me ... |
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 How does a credit increase on a credit card effect your credit? |
| im young and responsible i dont go credit card crazy. ive actually have never met my credit limit but was thinking about increasing the limit only if it would help me build a good credit score. ... |
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 Question about credit card checks? |
| If I use a credit card check, does that count as a cash advance? Or, is it different by company?... |
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 Can my capital one credit card do this?!?!?!? |
| My payment for Capital One was due yesterday on Friday.. I didn't get my check until yesterday.. so I put it in the bank and when I tried to go pay it today they had charged me a late fee!!! I ... |
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 Im 18 years old. Do i have any chance getting a loan/mortgage? |
I need to get a loan for 270,000 for a house.
Additional Details
i can put down 20,000. My financial status, well the house will pay off itself. im pretty sure theres some way for an 18 ... |
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 Store card debt...shall i put it on a credit card with 0% interest for 6 months..? |
| I have got a debt of £600 on a store card. Would it make more sense to transfer this to a credit card that has 0% on balance transfers and 0% interest for 6 months and pay it off via this instead of ... |
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 Can you pay off a loan with a credit card on 0% for 13months? |
My brother would like to pay off an outstanding loan but the only way he could do this is by getting a credit card and using the credit to pay off the £2000 loan.
My sister told him you ... |
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 Getting a loan to pay of credit cards right or wrong thing? |
| i have 4 credit cards which are up to the limit and an overdraft, i have been offered a loan to pay it all off £7500 over 5 yrs, the monthly repayments are just over £200 per month my minimum ... |
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Cranberrydude | What are the consequences of Cancelling an active Credit Card? |
...an active Credit Card but unused. and how to do it.(online/phone) |
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Patrick Bateman
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It will decrease your credit score. Don't do it. The more available credit you have the better the score. Keep it, just don't use it. |
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XoxoxoxoX
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You do NOT want to do that, because it will effect your credit score...Of course you cannot close an account with balance, but even if there is zero balance on this active credit card account, it will effect negatively on your credit score....read thru the list below regarding CREDIT CARDS SECTION ONLY.....
Top 10 Strategies that Will Improve A FICO Score
Ensure credit bureau data is accurate and dispute legitimate errors.
Focus on bringing currently delinquent loan accounts current. Do not allow current trade lines to go further delinquent while using cash flow to pay on old collection accounts.
Comparison shop for mortgage and auto loans within a 14-day period of time to minimize the impact of hard inquiries.
Pay off and close second-tier finance company trade lines.
Pay down the credit cards first that are near their limits (assuming interest rates are close to the same).
Pay down total revolving balances, but do not close these accounts. (i.e. keep balances low and limits high).
Move revolving balances to installment debt; but again, do not close the revolving accounts.
Minimize new accounts.
If you are transferring balances, a better strategy than getting a new credit card is to ask your current credit card lenders if they have any existing offers. Always ask for as much limit as you qualify for.
If you have closed some revolving accounts recently, a better strategy than opening up new accounts would be to call the lenders where he or she closed the account and see if they can re-open the same accounts and are able to keep the original open date. |
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Information Police
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No consequences, except maybe your credit score will improve. Having too many open lines of credit is counted against you.
Call the credit card company's customer service number (should be on your card) and cancel it. Be ready for them to do anything possible to talk you out of it, includind dropping all your fees and lowering your interest rate. |
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vatchy
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There are no immediate consequences but it will reduce your credit score, which is partly based on your credit to debt ratio. It is better to have an unused credit card because it will help your credit score. If you just don't want to use it, put it into your safety deposit box at the bank; that way you can get to it if you need it but there is no chance that it will be stolen. |
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replexgirl
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do it on the phone, ask for a confirmation letter. It is always better to officially cancel a credit card as opposed to just stop using it, because it still counts against you as "available credit" if you apply for a loan (even if you have no charges on it) |
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wife2denizmoi
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As long as you have not used it and there are no fees involved in getting the card, i.e. some have a type of initiation fee, then there are no consequences. Call them and close the account. No big deal. They may try to woo you back, but then again, they may not. |
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Erin C
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None, but be sure you won't have any consquences by keeping it open (i.e. annual fees, etc.). As far as your credit goes, doing this once really shouldn't hurt your credit. Your credit begins to go down if you open and close a lot of cards. Creditors like to see consistency, so they look for you to have accounts open for 3 years or more. However, cancelling one credit card before then will not so much damage.
The others have a good point about debt to credit ratio. If you have other cards that are close to their balance, leave this one open and just don't use it.
If you don't have much of a credit history, then I would use this card. Even if it is just for gas each month. Use it for all your gas purchases, then pay it off at the end of each month. This will help you build a credit history for when you need it. |
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Barbarian
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It reduces the amount of credit you have. Depending on the card you can usually do it by phone. |
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rattyrat
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You don't get any credit for it! |
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Alpha Wolf
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You go to jail and do not collect $200 |
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L. A. F
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