 I owe $14.00 but I shouldn't pay it, should I? |
A little history on the matter:
I opened up a Disney rewards card back in 2007 which I never used until almost two years ago. I screwed it up really bad and went over my limit and was ... |
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 So what do I use it for and how do I use it? |
LMAO that's what she said
srry couldn't resist. :p
anyway, for my birthday my auntie got me like 4 visa gift cards, each one has 50 bucks on it. ther still all in ... |
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 What Happens When You Call To Activate Your Visa Debit Card? |
| What do they ask you? is it easy? or should i just go to an ATM to do it?... |
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 can i transfer my capital one card to some1 else? |
| i recently got a capital 1 card and cant believe the charges on it u even get charged 3 pound for withdrawing cash which is more than an ATM machine so i was wondering can i apply for a credit card ... |
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 Are the Visa Debit card acceptable? |
| I have VISA Debit card and when i opened few websites for buying some things but when i cash out my cart and when I saw the payment information, i saw please enter your credit card number but there ... |
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| Must returned credit card purchases be paid for if bill arrives before credit appears? |
| Let's say you buy an item for $400 and $200 online using a credit card. Then, you mail the items back to the company, and the company says sorry, you won't have your refund for 4- 6 weeks. W... |
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 Mortgage/loan question...please help.? |
| I live in a rural area and own approx 2 acres now but will eventually inherit 30 acres. My husband and I built a modest size home on the 2 acres approx 4 years ago..now we have 2 kids and much ... |
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 I have a pay pal account? But it is not activated? |
I have a pay pal account but I doesn't having a credit card.....! So how to activate my account?
But i am having a Bank account in Indian Bank... SO someone please guide me how to activate ... |
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 Has anyone tried NationalCashline.com for a payday advance.? |
| I need a few pounds to get me through till payday. Any advice or recommendations for other services would be welcome.... |
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 Is Sallie Mae a reputable Online bank? |
| I have read about them some, and as far as student loans go I customers are unsatisfied. But I plan on opening a High Yield Interest account or buying a CD. My question is, is Sallie Mae reputable ... |
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 How do you look free credit score or report? |
| How do you look free credit score or report? Is there a way to get a free credit score?I tried but they only offer a "Free Score",then money to ... |
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 How can I do to see free credit score or report? |
How do i see free credit score or report?
Is there a way to get a free credit report?I tried but they only offer a "Free Score",then money to ... |
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 what is a liability with examples? |
| can any one explain what is liability????with examples......if i have a credit card with a bank and i have to pay 1000 dollars which has a limit of $2000....what is my asset and what is liability ???<... |
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 how to get these peoples to stop calling my job bout a payday loan? |
| i am having the some problem i have never got no payday loan in my life but they got my job number they had my cell but i got a new phone not the same number it is crazy.at home i donot have to ... |
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 If a person was gunna commit suicide, why not max out their credit cards and co-sign for loan applications? |
| Think about it. If a person if over the age of 18, has no family ties to anyone and was planning to commit suicide, why not co-sign for their good friend's car loan, max out their credit cards, ... |
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| How do I make my boyfriend care about his credit and bills? |
| My boyfriend of five years moved back in with his family last year. They put the electric in his name which he later found out was a HUGE MISTAKE. They moved out of state and left him with an ... |
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 How does an American Express Gift Card work? |
| Can I use it to purchase items on amazon? E-bay? or any other online transactions? Please if you have experience using this type of gift card I would appreciate it.... |
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 has anyone consolidated their credit card debt? |
| i just wanted info on how it works and was wondering if it is really worth it? what dose it do to your credit ... |
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Paula | Will cancelling a credit card affect my credit? |
My first credit card was a Capital One Platinum Standard. I didn't really have anyone to explain to me the possible fees that come along with these cards, so when I got my first bill, it had an "annual membership fee" of $39. I made it a point of looking for annual fees, but they hid this one from me.
So now that I'm more educated on the hidden fees of credit cards, I would like to apply for a new one with no charges just to have the card. Someone said that it hurts your credit to cancel cards, but I would have to in order to avoid being charged every year.
Also, if I read the "details" of a card I would like to apply for, with that hold all the info on the card's fees? Or can they hide more elsewhere? |
 |
 
Thomas
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You can use this credit monitoring service to pre-estimate future scores for different scenarios of such payments - credit-report-score.10001mb.com |
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tudorjason
 |
It will hurt your credit. However, if you apply for another credit card and get approved, you could cancel the Capital One card. The damage will be less severe depending on how young the Capital One card is, preferably less than a year old. |
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timothy p
 |
Judy is correct about the ratio of available credit to total credit limits. This is 30% of your score. If you keep a zero balance on your new card then this will not matter and you will still get the maximum available points for this part of your score. If you make a very small purchase each month this will cause the bank to report a payment history. This accounts for 35% of your score.
The area that MAY be negatively impacted is your length of credit history. Unless you have had the other card for more than a couple of years then close the account as soon as you open your new one. Even if you have had the card for quite some time, it really doesn't matter. If the account is in good standing it will stay in your credit file for 10 years or longer. If it charges an annual fee and you can get better terms then close the account before they stick you with the fee again.
Length of credit history is a very small percentage of your score and closing an account in good standing will not really impact you for a long time (unless you have no other revolving accounts). Hopefully 10 years down the road, you have a pretty healthy credit file anyway. |
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Mr. P
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Hi Paula,
Cancelling your first card will hurt your credit as it will make your credit history appear shorter. It also takes away your available credit(if you have any). |
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Judy
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Closing an account will hurt you in 2 ways.
It could be your oldest credit card and "length of credit history" is 15% of your fico.
It will also reduce your overall unused available unused credit lines.
Creditors like to see unused credit - shows credit worthines.
If it carries an annual fee, by all means close it.
A couple off points off is never, ever worth an annual fee
Plus, your history can take a full 20 years to develop.
You can still start over.
Next time you apply for a card, if you have any questions, remember you can apply by phone, this way you can directly ask if there are any annual fees. Always make sure you look at the terms and conditions - it's always a little button online in an online application.
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