Should I close my credit cards?

I have 5 credit cards with 0 balance on all of them. 2 of them have $300 credit limit and they are open in less than a year. Others have bigger limit. If I continue to use them for the next year there is $69 annual fee on each of those two cards. Should I close them before next year start or this is going to lower my credit score?

Should I close my credit cards?

This depends.

Closing cards may drop your score because it will reduce the amount of available credit, reducing your %26quot;credit utilization%26quot; ratio.

The lower the percentage of credit utilization, the better. Creditors consider utilization percentages of 30% or lower to be best (higher credit usage is considered risky by creditors)

For example, if you have 2 cards each with a limit of $1000 and one of the cards has a balance of $500 with the other card with zero balance, you are borrowing $500 out of a total of $2000 of credit (two $1000 cards = $2000). Therefore, your credit utilization is a healthy 25% (within the desired 30 % limit). Now, if you were to close the card with with no balance, you would be reducing your available credit from $2000 down to only $1000. You are now using $500 out of $1000 credit - you have increased your credit ultization from 25% to 50%!

Another factor in credit scores is credit history. It is not recommended closing cards that you have had for a while - doing so will eliminate your history and experience that creditors like to see, demonstrating that you have dealt successfully with credit for a while. In your case, since the cards are failry new, I wouldn%26#039;t be too concerned - unless you are fairly young and all your cards are new.

I would only recommend closing a card if you have poor spending habits and get into debt easily. Closing a card will prevent you from getting into debt further. If you don%26#039;t have a spending issue but yearly fees are significant and costing you too much, then close the card if your credit utilization won%26#039;t be effected that significantly (especially if you have a lot of available credit with other cards) or if the cards are new, as it looks in your case. Credit utilization is only one factor in determining your credit score.

Should I close my credit cards?

if you close a cr. card your credit score will drop. Cut them up and toss them.

Should I close my credit cards?

Cut up your credit cards. They are bad news and could cause you problems later in life.

Should I close my credit cards?

it is bad to have credit cards that are not being used because if you ever wanted to apply for a loan then they would be considered a possible future debt. They add up all the amounts available to you on the cards and hold that number against you. with too many cards you also have the risk of losing one as well. I would keep the one with a good enough allowance to get you through a car emergency that is widely excepted everywhere. Also check to see if that one has the lowest interest rates and service charges. Cut up the rest and CALL to close them. The 300 one sounds like a card for a store. That one most likely has a hih interest rate Cut it. you want either a visa or mastercard.

Your credit score is only effected if you use them, and use them badly. You only build credit by using the card and payin it off consistantly over a lon period of time. Buy somethin for 100 bucks use the card, and then the next day take 100 out of your bank account and when the bill comes pay off just a little above the minimal balanced asked of you. You do this until its paid off. If you pull the money aside as you spend it then you are sure to not acrue debt. You are not spending money you don%26#039;t have you are just spending to get a better credit score.

Should I close my credit cards?

Close the accounts and cut them up. First you will avoid the annual fee associated with a card that has a zero balance which is crazy to begin with. Second, it shouldn%26#039;t lower your credit score. When you go to make major purchases, they look at what your available credit is. If your available credit is high that is usually considered bad. I would even consider closing one more if I could.

I have four store credit cards I don't use. Will it hurt my credit to cancel these cards?

Three can only be used in the store (Old Navy, Ann Taylor Loft and Banana Republic) and one is a Mastercard (Macy%26#039;s). I heard if you cancel cards, it hurts your credit -- unless you specifically ask them to state on the cancellation %26quot;customer requested to cancel card,%26quot; so it doesn%26#039;t look like the store canceled it. Is that true?

I have four store credit cards I don%26#039;t use. Will it hurt my credit to cancel these cards?

Shred the cards. Close cards that have not been used in years. If you have any balances, make sure that your balance is less than 25% of all of your available credit. That is what will help you.

I have four store credit cards I don%26#039;t use. Will it hurt my credit to cancel these cards?

No as long as you also pay the off in full on time.

I have four store credit cards I don%26#039;t use. Will it hurt my credit to cancel these cards?

Cancelling them may hurt your credit score. Just shred the cards and don%26#039;t cancel them.

I have four store credit cards I don%26#039;t use. Will it hurt my credit to cancel these cards?

Do not close accounts! Even if you don%26#039;t use them. It hurts your credit rating. Part of your credit rating is determined by how much available credit you have. If you cancel cards then you will lower your available credit and thereby lower your credit score.

The only reason you should ever cancel a credit card is if it has an annual fee and you don%26#039;t want to pay it any more. Then it might be worth it to take a hit on your score to lose having to pay that annual fee.

How do banks and earn from Credit cards, i dont pay any annual fees or interest charges,?

I am using credit cards for the past 3 years( all are life time free cards). No annual fees, i always make full payments every month, so i had never paid financial charges or late payment fees. apart from this i get bonus gifts for my usage. From where does bank get revenue on credit cards. None of the merchadise charge for making payment through credit card.

How do banks and earn from Credit cards, i dont pay any annual fees or interest charges,?

Credit card companies don%26#039;t really like customers like you lol. There are plenty of people out there (like me) who aren%26#039;t as responsible with their credit. Many people default and get a higher interest rate, get late charges, and over limit fees. My Citibank card makes $120 a month in interest alone off me.

I have been trying to pay it off $1000 a month but now my dog needs spinal surgery so thats paying that is more important. Good news for Citibank.

How do banks and earn from Credit cards, i dont pay any annual fees or interest charges,?

The places that accept credit cards have to pay fees to each credit card company per transaction they accept. So the credit card companies make money on both ends of the transaction... They just make more on people who only make minimum payments.

How do banks and earn from Credit cards, i dont pay any annual fees or interest charges,?

In that business isnt just you

many people has their credit card to the max

How do banks and earn from Credit cards, i dont pay any annual fees or interest charges,?

I work for a credit card company. The majority of Credit Card holders do not share the same traits as you do. Finance charges are the numbers one revenue source for CC companies. The majority of banks borrow money from the federal reserve at 2% and turn around and lend the money anywhere from 7.9% or even higher. That is a huge money maker not even including the amount of money possible made off fees.

How do banks and earn from Credit cards, i dont pay any annual fees or interest charges,?

They charge the merchant anywhere from 2.5 to 3.5 percent of the charge plus a transaction fee of at least 30 cents. That%26#039;s why some merchants have a minimum charge before you can use your card.

How do banks and earn from Credit cards, i dont pay any annual fees or interest charges,?

Yes mike is right. The places that you charge at pay a fee everytime they swipe a card. So the card company still gets something everytime you use your card. You are not really at all that profitable for the card company but you still bring in a little so they still want to keep you and give you stuff for your loyalty to them.

How do banks and earn from Credit cards, i dont pay any annual fees or interest charges,?

I use credit cards the same way you do, pay the balance off each month. The banks refer to people like us as %26quot;dead heads%26quot; and may not make any money on us but carry us because we have good credit. They don%26#039;t have to worry about us. Don%26#039;t worry about the banks making money , they make plenty off the people that carry a balance.

How do banks and earn from Credit cards, i dont pay any annual fees or interest charges,?

Please don%26#039;t take pity the banks......they make billions in exorbitant interest charges....the concept of usury has largely been discarded.....On top of that...banks are making billions more in over the limit, late and other %26quot;creative%26quot; fees.

How do banks and earn from Credit cards, i dont pay any annual fees or interest charges,?

All merchants who accept credit cards pay the Transaction Fee: when you buy a 6-pack with your credit card the owner of the 7/11 pays to the Visa or MasterCard or whatever...

How do banks and earn from Credit cards, i dont pay any annual fees or interest charges,?

they make money 2 ways:

1. they charge the merchants for using the card, usually 2%-4% of the transaction

2.they get paid interest by the users of the cards (you are in the minority if you pay your card off every month, GOOD JOB!!..)

SMD

If you have bad credit which credit cards can you get?

I am looking for a place I can get a credit card with bad credit.I have Imagine and First Premiere.Is there any other credit cards I can get?

If you have bad credit which credit cards can you get?

Major credit card issuers like Discover, American Express and Chase offer a credit card for bad credit holders. A %26#039;shopping%26#039; card offers you an unsecured line of credit from specific sellers. Use these cards to increase your credit rating, since the credit bureaus will be informed about your timely payments.

Take care to ensure your credit is good by making intelligent credit choices. Keep low balances, do not be extravagant and take care to pay off your balances promptly every month.

http://debt-trap.com/category/Bad-Credit...

If you have bad credit which credit cards can you get?

If you have two credit cards and bad credit, then you don%26#039;t need anymore. That%26#039;s how you get into debt. Just work on keeping those paid off and then you can have one or two with a better interest rate. You won%26#039;t get a good rate if you have lots of credit cards and trouble paying them off.

I have good credit and two credit cards. I wouldn%26#039;t accept another one.

If you have bad credit which credit cards can you get?

To get solution to your issue go to

http://www.financials.co.nr

You will get help for bad credit mortgage best credit card business credit chase credit citibank credit card credit application credit bureau credit check credit counseling credit debt

What if I merge two credit cards? Do I loose some points in this?

If I merge two credit cards from same company, do I loose some points from my credit score? If I loose any credit card and if I ask for new one for the same account, does that affect my credit score?

What if I merge two credit cards? Do I loose some points in this?

If you lose a credit card, you should report it immediately to the credit card company. Otherwise, you%26#039;ll likely end up with a whole lot of charges on that account that you didn%26#039;t make.

The credit card company will issue you a new card and this will have no affect on your credit score.

Merging two credit card accounts shouldn%26#039;t impact your credit score if the credit limit equals the total of the two separate accounts. It isn%26#039;t the number of accounts as much as the available credit to debt ratio that affects your credit score.

What if I merge two credit cards? Do I loose some points in this?

Your questions would best be directed to your credit card company. Please give them a call.

Good luck.

What if I merge two credit cards? Do I loose some points in this?

My answer is no. When you consolidate 2 accounts from the same company into one, you still have the same available credit instead of splitting into 2 cards, now you only have one. Your total credit line should be the same.

If you lose your credit card and the credit card company send you a replacement card, your credit history with that company hasn%26#039;t changed, the only thing has changed is your credit card number.

What to do with bonus- pay the credit cards or make an investment?

we never live with credit cards before. and now we have 5000$ on our credit cards that we cant close . we are doing a min paymant every month and trying to pay more than that. we will have a bonuce 7000$ at the end of the year. will it be beter to pay to credit cards at onece. or there is another way to pay credits(and put this bonus on investment).

I read about calling to creditors and talking with them, so they will give a 10-20% of if we will pay it atonce, but will it afect in bad way to our credit report.

Sorry for wrong English writing.

What to do with bonus- pay the credit cards or make an investment?

Deffinatley pay out your credit cards! Dont put your bonus in an investment, as theres pretty much a nil chance of earning more interest on your investment for such a small amount of money than you are paying for the cards. As far as im aware, you can get %26#039;pay-out%26#039; figures that can be substantially less than what you actually owe, and it doenst affect your credit rating. However, if you havent been making payments on the cards, or if they have been send to a debt collector, your credit rating is most likely already affected.

What to do with bonus- pay the credit cards or make an investment?

Pay off your credit card bills. Why pay all the interest on them with the minimum payment each month.

If you must invest it, then transfer your credit card bills to another card that offers free balance transfer with 0% interest for a year. Keep doing that until they are paid off.

What to do with bonus- pay the credit cards or make an investment?

Pay it all on the credit card....the interest alone is kill you....investing it would be like...trying to win money at gambling to pay the rent, when you had the rent money to start with....Pay all of it toward the cards.

What to do with bonus- pay the credit cards or make an investment?

pay the credit cards, then cancel them, and then consider making an investment, if u make an investment and leave ur credit cards delinquint, then they could come after your investments, smart to pay off bills first

What to do with bonus- pay the credit cards or make an investment?

Negotiating debts to be paid for less than the amount owed does adversely affect your credit. How much? Who knows.

I wouldn%26#039;t do it if your credit is good.

As for what to spend the bonus on; pay off the debt. As a rule of thumb, if the interest on the money borrowed is more than the rate of return on the investment, and it always is, you have to pay the debt.

For instance: if you have a 0% for 1 year card for $50,000 you could buy a six-month CD and keep the interest paying off the debt at the end. That would be wise.

If you are carrying a $5000 card with a $150 payment you would have to make more than $150 per month on your investment of the same amount for it to make sense.

You should pay off the card, invest the remaining $2000 and apply what you would have paid to the creditors as a monthly investment in addition. Look up Dollar-Cost Averaging.

In the long run you%26#039;ll be better off.

What to do with bonus- pay the credit cards or make an investment?

pay the credit cards off and if you pay now they should give you some off. If you do pay them off now then you dont have to worry about them anymore.

What to do with bonus- pay the credit cards or make an investment?

Pay off the credit cards!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! Don%26#039;t invest a penny in anything else until they are gone and never use them again.

Also you should probably know that if this is a work bonus they are taxed at 39(!) percent so you won%26#039;t really end up with the full $7000.

Asking for a payoff is great and shouldn%26#039;t affect your credit.

What to do with bonus- pay the credit cards or make an investment?

Pay off the credit cards first. Forget all fancy shmancy formulas about interest rate and return on investments. Paying off the debt is guaranteed return on on your investment -- that is the interest you save. Now, bonus is not taxed at 39%, that%26#039;s a myth. It%26#039;s just the formula that calculates the federal tax on each paycheck analyzes the amount of paycheck to figure tax. That is if you get 26 paychecks a year and each of them is $3000, then they are taxed as if you make 78K per year, but the check that will have a bonus will be taxed as if you were making Bonus x 26 per year. So, yes they will withhold more tax than they should, but when you file your income tax return you will get amount of overpayment back, unless you were underpaying all year. But all that besides the point. In short pay off the credit card debt, but do not cancel it, just put it away and stop using it. Canceling too many cards may also adversely affect your credit rating, as lenders want to see that you have available credit but not use it or use it wisely.

What to do with bonus- pay the credit cards or make an investment?

pay them off in full, and invest the rest. Yes it will affect your credit negatively if you take that discount. It will also take you forever to pay them off by only making the min. payment. so pay them in full

What to do with bonus- pay the credit cards or make an investment?

At the minimum payment, you will take 20 years to pay off the credit card balance even if you add nothing more to it.

You should cut up the credit cards and look for a way to borrow the money to pay them off. The interest cost to you is going to put you under unless you pay them off completely.

Credit Cards...evil or simply a valid business operating within a contract?

With the latest turmoil in congress over credit cards and their %26quot;predatory%26quot; practices. I was wondering what everyon thought about this issue. Are they evil or simply a business who has a contract for their protection and operating within the legal precedents of said contract?

Credit Cards...evil or simply a valid business operating within a contract?

I find it interesting that because credit cards have made it so easy for people to get and use credit, they are getting a bad rap when people abuse them.

There are so many laws governing credit cards that it is pretty near impossible for a company to purposely scam an individual with a credit card.

Even more interesting is all the other lending that gets a pass:

1. Layaways - the fees to layaway an item and pay for it within 30 days are more than the interest that would accrue on a credit card. Make the charge on a card and pay it off in a cycle and there are no fees.

2. Payday loans - interest rates run into the hundreds of percents

3. Interest only mortgages

4. 0% interest on furniture (and other stuff) - fine print says if you don%26#039;t pay it off by the last date, interest on the entire period will be charged and at rates higher than lots of credit cards

We, for some reason, don%26#039;t want to hold people responsible for their actions. If you get a card, use it properly.

Credit Cards...evil or simply a valid business operating within a contract?

Well, credit cards are evil, but they are a valid business operating within an agreed upon contract.

If you have a credit card, you opted to accept the agreement and the contract.

Credit Cards...evil or simply a valid business operating within a contract?

legal but a deplorable way to make a profit I think

Credit Cards...evil or simply a valid business operating within a contract?

I love my credit card. I pay on time and they give me back 1% of everything I spend. Every year I get a nice little check for about 50$ from them. Credit cards are great, you can carry them and not have to worry about what happens if they are stolen. If you carry cash, once it is gone it is gone. But if your credit card get stolen you do not have to pay for any of the charges made when it was stolen. If you cannot control your personal spending and only make the minumum payment you are a moron and it is not the credit cards fault.

Credit Cards...evil or simply a valid business operating within a contract?

Credit cards vary wildly. I work for an economic development organization and we try to identify the harmful and promote the good ones. Some credit cards really do verge on evil because they target loopholes in the law; once the loophole is closed, they find a new one. Some cards are really very good, have fair rates, full disclosure and good customer service.

Best credit / debit cards?

Off to Spain for two weeks in April and France in July / Aug too. All Euro Zone, but may nip to Gib and Switzerland.

Tired of my bank {best not say the name - don%26#039;t want to give them any eXtra advertising, charging me every time I use my card abroad, 鎷?.50 per cash withdrawl from my current account and 鎷?.50 for each purchase - goods, meals etc, plus pretty naff exchange rates too.

Credit cards of course much better.

So wot%26#039;s the best way to spend money in Europe !!

Need a bit of eXtra help on this one.

thinking of changing my currrent account / bank . Hear Nationwide BS is good on the issues above?

Paul W. {Not from HalifaX, Yorks }

Best credit / debit cards?

Never use a debit card abroad. You will get charged everytime and often pay a commision, whereas on a credit card there will be no charge and a better rate of exchange. Choosing a credit card is a personal choice. I would never advise anyone on financial matters, but if you are bringing cash it is better to change 鎷?#039;s into euros before you come abroad. I have heard from friends that Marks %26amp; Spencers give an excellent rate of exchange with no commision.

Best credit / debit cards?

mastercard

Are there any credit cards that do not charge a percentage on foreign currency transactions?

Some credit cards my offer no fees but still use an inflated conversion rate of Euros into USD. I would like a credit card that will not charge me extra everytime I use it in a different country.

Are there any credit cards that do not charge a percentage on foreign currency transactions?

Capital One has some credit cards that don%26#039;t charge foreign transaction fees. This is the only credit card company that I am aware of.

Check out this link for more info --- http://www.e-wisdom.com/blog/credit-card...

Are there any credit cards that do not charge a percentage on foreign currency transactions?

Sorry to tell you this, but ALL major credit cards charge a fee for currency conversion. Way to avoid this fee: buy the actual currency you will need before you travel and pay cash. There will still be a fee when you buy currency, but it is a one time expense and there is no risk of currency fluctuation (value changing in relation to the dollar).

Are there any credit cards that do not charge a percentage on foreign currency transactions?

I don%26#039;t think there is any credit card company that doesn%26#039;t charge foreign transaction fee. If you exchange money at the bank, there is also a transaction fee.

Some credit cards charge less than others but they all do charge transaction fee. Amex is 1%, visa and master card are 3%.

Since I paid off 3 credit cards, should I just outright cancel all 3 of them?

I have 3 store credit cards that I just paid totally off this week. The only other credit card I have is a Amazon Visa. Since the Visa has a lower intrest rate than the store CC I carry.......it is the only one plan on using in the future. Should I call and cancel out the 3 of the store CC I still carry around? Would this hurt my credit rating at all. My rating has slipped because of 2 late payments, but those were on the accounts I have currently paid off. The credit limits on them are: $120.....$650........$1,000.

The one I carry has a limit of $6500. I have heard that if you call a CC company and ask them to lower you CC limit, it also hurts your rating.

Any help would be greatly appreciated. ThX!

Since I paid off 3 credit cards, should I just outright cancel all 3 of them?

I have always had good credit, but together me and my husband spent 18 months cleaning up his credit from a 540 score to well over 700 (which is great btw). This was about 4-5 years ago. I only say that to let you know I know what I am talking about. For starters the actual mathematical formula used to determine your credit score is a secret. Which sucks. However, there are guidelines that are very helpful such as :

閳ヮ敹ayment history (35%) 閳?the most important category. Have you made all payments on time and for how long. How many unpaid debts you have that have resulted in alternative action (e.g. bankruptcy, tax liens, collection lawsuits, etc).

閳ヮ敡mounts owed (30%) 閳?how many lines of credit you have and how much you owe compared with how much you can borrow.

閳ヮ敳ength of credit history (15%) 閳?how long you have had your accounts.

閳ヮ敶ew credit (10%) 閳?how many new lines of credit you have.

閳ヮ敽ypes of credits used (10%) 閳?do you have a balance of revolving (credit cards) and installment (loans) credit lines.

If I were do this is what I would do. Get rid of the store cards (close them). Closing them doesn%26#039;t hurt your credit....what hurts you credit it the fact that you are lowering your overall amount of credit extended to you, and if your balances equal more than 30% of total credit available, you get a ding. But as soon as your balances fall below 30% you get a jump in your score. So KEEP your card for 6500, and keep your balance under 30%, or get it there asap. Then never use more than 30% of your total limit on the card. Personally, I would keep the card, pay it off, and never use it again ata all but keep it open. You want to keep it open because the lenghth of time of open revolving accounts(credit cards) is a plus to your credit score. I have this one credit card that I have had since college. they keep raising the limit hoping I%26#039;ll go nuts. The limit is now 11 grand. My balanace is ZERO. There fore, i have 11k of credit extended to me, but a zero balance (like i said under 30% is good), and I%26#039;ve had this credit card for about 8 years, so that looks %26quot;responsible%26quot; on the fico score, and is a plus to your score.

It%26#039;s tricky to get used to how it all works, but I spent the time doing it and we went from BARELY being able to buy a house 4 years ago and filling out mountains of paperwork, to have great credit and filling out a one page document, and handing over a down payment to buy our second house.

Anyway, store credit cards are trash! They ALWAYS have high interest rates, and they are only good for the stores they are listed for. You aren%26#039;t going to be having any clothing emergencies, and if your closet burned down (literally), and you did have a clothing emergency then you could reasonably use your visa.

Having said all this, can I make a suggestion?

Total Money Makeover by Dave Ramsey. Go to the bookstore and buy it. You will thank yourself.

***********OH YEAH! Don%26#039;t ask to have you credit limit lowered on the visa (like some others have said on here)! That in itself won%26#039;t lower your credit rating, but you will have less credit to use to stay under the 30%, and anytime you go over 30% that DOES give you a ding! Remember, credit limit hikes are good for you IF you stay under 30% and don%26#039;t lose your mind and go nuts a Macy%26#039;s!

Since I paid off 3 credit cards, should I just outright cancel all 3 of them?

Just cut them into little pieces. They can%26#039;t hurt your rating if you don%26#039;t use them!

Since I paid off 3 credit cards, should I just outright cancel all 3 of them?

You are on the right track and should cancel the 3

Since I paid off 3 credit cards, should I just outright cancel all 3 of them?

If you are not going to use the cards, I would cancel them. If you call the CC company and ask to lower your credit limit, it does NOT hurt your rating. Those 2 late payments have affected your rating, but they only stay on for 7 years.

Congratulations on paying off your cards! You should be very proud of yourself!

Since I paid off 3 credit cards, should I just outright cancel all 3 of them?

Yes, since they are only instore credit cards that you can%26#039;t use other places there not worth carrying.

Since I paid off 3 credit cards, should I just outright cancel all 3 of them?

I wouldn%26#039;t cancel them immediately particularly if you have had them for more than a year. Credit scores are also calculated based on the length of the credit. Before you do anything, check your credit scores and keep the ones that you have had for the longest. Store cards usually become inactivated (not canceled) if you don%26#039;t use it for certain period time. Call them and find out.

Since I paid off 3 credit cards, should I just outright cancel all 3 of them?

Well you don%26#039;t gave to cancel all of them mabe just two of them and keep one but use it wisely!!! Try not to let yourself get into that type of situation again! Yea credit cards a great but can be a pain in the you know what!!! A good idea you could use is to put a sticky note on the back of your credit card and mabe a limit you don%26#039;t want to go over! Then everytime you use the card just subtract what the amount spent. Good luck!!!

Since I paid off 3 credit cards, should I just outright cancel all 3 of them?

I%26#039;ve been told that if you leave them open but carry a zero balance this show%26#039;s people that look at your credit that you have been granted high limits in the past and are able to control your spending to keep them paid off...this I believe carrys alot of weight

Since I paid off 3 credit cards, should I just outright cancel all 3 of them?

Believe it or not, the credit bureaus will give you a negative rating if you just close them. I would keep them open and once in a while buy something on credit pay the amount. If you leave a little on the account it is better. If you want more info on you credit card and credit a good program would be Coming Back Strong Financially you can order it on the web at their website. I have the programs and have learned alot and have an excellent credit rating because I did what they said. The website is the same as the name.

Since I paid off 3 credit cards, should I just outright cancel all 3 of them?

I think you should cancel them since you paid them off and especially if you don%26#039;t plan on using them in the future!

It has been recently said that having an open credit card looks good on your report rather than paying off cards and closing the accounts. Companies like to see not only past credit history but recent credit transactions/payments as well. Closing those store card accounts won%26#039;t hurt your credit score! Those late payments did however so just get rid of the cards that get you in trouble!

I think you are on the right track b/c you already intend to keep your Visa open and that is good enough to keep you having credit history! Plus the intrest is lower so it%26#039;s the best card for you to keep!

One extra tip= Make sure you don%26#039;t go past the halfway charging limit on any card b/c that may make your score decrease. And if you are past half then just try to get it down to that point before using it again!

I think you are very informed and are on the right track to fixing your credit dilema! Good Luck!

Since I paid off 3 credit cards, should I just outright cancel all 3 of them?

Yes it will affect the credit rating to close these accounts. While you are not using them they have an available credit limit wich adds to your limit - debt ratio.

Here is some additional info. Hope this helps.

Since I paid off 3 credit cards, should I just outright cancel all 3 of them?

Treva A has the best answer, but she still messes up! At lease she did her research, unlike most of the others here.

Start by visiting http://www.myfico.com

This is the home site for the folks who developed the FICO scoring system, and they have lots of educational info on it explaining how your credit score works.

Treva A states that 15% of your credit score is based on your credit history, but then she says to cancel your cards?!?! Wrong answer!

When you delete those cards you clear out a portion of your credit history, which is a major portion of your score.

And while it%26#039;s true store credit cards are not as good as Visa/Master cards on your score, it%26#039;s STILL a credit history!

The only reason I would recommend canceling them is if you feel you can%26#039;t control your spending and would rather get them out of your reach. If that%26#039;s the case, and you must cancel them, do this:

DO NOT cancel them if you are planning to get a loan in the near future. Canceling them WILL lower your score, but after a few months your score will restore itself a bit.

Cancel 1 card every 2-3 months. This will lessen the impact.

Be sure that you check your credit reports afterward and make sure it states that the account was closed at your request, and not closed by the credit lender. That is actually a negative item on your report.

Since I paid off 3 credit cards, should I just outright cancel all 3 of them?

If they are your oldest creit accounts do not cancel them, they bring your credit score up esp. when they are paid off. Just cut them up so you wont be tempted to use them.

CRAZY aunt taking out credit cards under different names?

We have a crazy psycho of an aunt in the family who has started taking out credit cards in one of her niece%26#039;s names. She is not sending them to herself though, she is sending them to her other nieces/nephews houses. This woman is really sick; she%26#039;s done some really crazy things to the family and we want her to go to jail this time. How can we prove it was her? Will the credit card company be able to track her IP address?? She%26#039;s not spending money on the cards since she%26#039;s not having them sent to her, but the psychopath still shouldn%26#039;t be allowed to do this. Any thoughts?

CRAZY aunt taking out credit cards under different names?

Some local governments have Mental Health offices in their departments of human services that will send a counsellor to visit such people who are either a threat to themselves or others, or who are acting in ways that could get them into criminal trouble. You might also--if you can get together some evidence--get a Community Service officer from the Police to visit her and maybe put the fear of God into her. I don%26#039;t think that jail is a solution to mental problems but some kind of counselling or custodianship might be in order. Another possibility down the road is a court order that prohibits her from having internet service if she keeps this up.

CRAZY aunt taking out credit cards under different names?

Someone should get her evaluated by a psychiatrist and possibly committed to a mental hospital since she is harming other people with her actions

CRAZY aunt taking out credit cards under different names?

First of all you stated she is %26quot;sick%26quot; so she needs help..How in the world is she getting others peoples social security numbers? and other personal information you need to open credit cards?

CRAZY aunt taking out credit cards under different names?

write to the three credit bureaus and put a fraud alert

on your accounts, you%26#039;ll have do it every three months.

Yes, her IP address can be tracked

Question about applying for credit cards?

If I go to a retail store and apply for a credit card, for instant approval they usually need another one of your credit cards to check it. Can you use a debit card for this purpose if it has a visa logo on it?

Question about applying for credit cards?

Don%26#039;t know much about the instant approval process, but I do know that you should avoid getting a lot of retail store credit cards. The more open accounts you have (over maybe 1-3), the more of a credit risk you will look like and the worse your credit score will be. Best to stick with a couple of credit cards that have general rewards (points, flyer miles, etc.) rather than get a ton of retail credit cards that could wind up pushing your interest rates up.

Question about applying for credit cards?

Debit cards don%26#039;t help get credit cards, it depends on your actual credit history, ability to repay debt, cash in the bank, and in savings accounts as well as your income. All are factors.

Avoid store credit cards if you can, they have the highest interest rates, shortest grace periods, usually less than 30 days, and they continually try to hook you into using the card for special deals on merchandise you can get elsewhere for much less. Best bet is to get a Visa or Mastercard, but only if you have the ability to keep it paid off each month.

Question about applying for credit cards?

Nope, they will usually require a credit card. Debit cards usually have an indication that they are a check card.

Question about applying for credit cards?

this may not be the answer you%26#039;re lookin 4,but, take advice..stay away from the credit cards..they are worse then a checkbook...and it seems like the more ya pay on them,your balance never seems to go anywhere,but up...

Question about applying for credit cards?

yes they can use a debit card. the debit card has information they use to verify who you are. that is why they are asking for a card, simply to verify info about who you are.

Question about applying for credit cards?

Debit card should be OK however, I totally agree with others have already said here, stay away from credit cards. A couple of them should be more than enough.

Question about applying for credit cards?

Why would you want their credit card, and not just get a Visa you can use anywhere?

Apply for a gas card where you always buy gas. That%26#039;s the best first credit card. You%26#039;re going to buy gas anyway, right?

Question about applying for credit cards?

There are some useful tips here.

Question about applying for credit cards?

Yes, a Visa check card works like a credit card for that purpose.

Question about applying for credit cards?

It depends on the store...some will use a debit card but most won%26#039;t. It%26#039;s not used at all in the decision process.

Study report 83% are using credit cards. random sel. 50 students and 40 use credit cards. a=0.04 is

For a certain year a study reports that the % of colleges students using credit cards was *=83%. A college dean of students services feel that this is to high for her university, so she randomly selects 50 students and finds that 40 of them use credit cards. at a=0.04, is she correct about her university?

and how do i work this out. and what table do i use.

Study report 83% are using credit cards. random sel. 50 students and 40 use credit cards. a=0.04 is this corre

You need to run a hypothesis test (left tailed) on the population proportion:

Ho: proportion = .83

Ha: proportion %26lt; .83

The test statistic is:

(.83 - .80) / ((.80*.20)/50) = .53033

This follows the standard normal distribution. Here is a table

http://www.castleton.edu/math/statistics...

This site also might help you:

http://www.ltcconline.net/greenl/courses...

As you can see, this is not significant at the .04 significance level. Therefore, based on this sample the answer is %26quot;no%26quot; the dean is not correct in saying that less than 83% of her college students use credit cards.

Stated formally: we do not find sufficient evidence to support the claim that the proportion of college students using credit cards at this university is less than 83%.

Good Luck~

Anyone pay for credit card protection on their credit cards?

Is it a good idea or unnecessary? I have credit protection on all my cards and I%26#039;m spending good money for it. But I%26#039;m betting that if I lost my job they would make me jump through hoops to get them to honor the protection while I was unemployed. Anybody out there experience this?

Anyone pay for credit card protection on their credit cards?

It is not a wise investment, but is a great profit center for the bank and insurance company. The odds of collecting are relatively nil. They pay the full amount of your balance if you die and the minimum payments for up to a year depending on your age and regulations of the state in which you reside if you lose your job and meet their restrictions.

A better option would be to get cheap term life insurance privately or through work if you are supporting a family, save the premiums in a high interest money market or savings account or use the funds to pay down the cards and relax.

Anyone pay for credit card protection on their credit cards?

Ain%26#039;t worth it. Get unemployment insurance.

Anyone pay for credit card protection on their credit cards?

Its not worth it... All that money that youpay for it, is just money in there pocket. And if you do get sick they are only going to pay the minimum, which wont do anything... I%26#039;d save the money

Anyone pay for credit card protection on their credit cards?

The only company that actually paid on our credit insurance is Sears. We simply sent in what they asked for and they sent us a check, Capitol One and the others had a reason why we didn%26#039;t qualify, and I felt like I threw my money away. But I still think its a good idea.

Anyone pay for credit card protection on their credit cards?

Don%26#039;t do it...just another way to get money out of you. Look at life insurance or unemployment insurance from a trusted company.

Anyone pay for credit card protection on their credit cards?

I paid for credit protection some years ago. It was worth the extra money as I got laid off from my job. No, they really don%26#039;t make you jump through hoops. You just have to send them you unemployment form every month to get the bill paid. Keep in mind however, that you may have to pay taxes on that money at the end of the year, if you ever use it. I got a couple of 1099%26#039;s from a couple of companies and a couple of them I did not. So just beware.

Anyone pay for credit card protection on their credit cards?

I do know - a couple years ago my purse was stollen. I had

a ton of credit cards in it - so many I could not even name

them, they were all empty balances so I began to cancel

the ones I could remember - I was freaking out thinking about

what could happen. I now have credit protection from Discover and it only costs 9.99 a month and if my credit

changes I am notified, even if someone does a credit check

on me. I also get a credit report very 3 months with my credit

score and activitity of ALL my credit cards and loans. If my

purse is lost or stolen again - they can cancel all of them for me. I recommend it completely.

Hope this helps - have a great day

Are there store cards considered as credit cards (Macy, HP, etc)? .?

...are these cards opening going to affect my credit score as well as credit cards?

Are there store cards considered as credit cards (Macy, HP, etc)? .?

Yup! Absolutely.

Are there store cards considered as credit cards (Macy, HP, etc)? .?

yes they do

Are there store cards considered as credit cards (Macy, HP, etc)? .?

no doubt and they usually have higher APR than a normal credit card

Are there store cards considered as credit cards (Macy, HP, etc)? .?

yes

Are there store cards considered as credit cards (Macy, HP, etc)? .?

Absolutely..they are WORSE than regular credit cards..Revolving credit is the most damaging.

How can you forever waive credit cards' annual fees?

I sooo wanna to close my credit cards that charge these annual fees, but that won%26#039;t be healthy for my credit (report). I asked for a waiver but that will be for this year only. These are debt-free cards, I want to close them the next time they charge me annual fees...Any suggestions?

How can you forever waive credit cards%26#039; annual fees?

There are a lot of %26quot;normal%26quot; cards out there without an annual fee. Look at the American Express Blue for instance. With this one you can even have cash back or points for every dollar spent.

How can you forever waive credit cards%26#039; annual fees?

don%26#039;t waste money holding on to cards that are costly you -- close them!!!

How can you forever waive credit cards%26#039; annual fees?

It is healthier for your credit report to close unused accounts than to keep them open. If you don%26#039;t need the card, close the account. Prospective creditors don%26#039;t want to see a credit report with a lot of open unused accounts. It shows a potential for trouble later.

How can you forever waive credit cards%26#039; annual fees?

close all your cards and dont obsess with your Fico ( I Love Debt ) score.

The only time you need a high I Love Debt score is if you are planing to borrow lots of money and pay lots of interest.

Live on less than you make. Pay as you go and you can and will win with money.

Debt Free is Definitely the way to be!!

Optimum number of credit cards?

I have 7 credit cards, and am in the process of paying them off and closing some of them. What is the %26quot;optimum number%26quot; of cards to have in order to have the best FICO score for future use? Is there such a thing? I know that the %26quot;balance in proportion to the limit%26quot; is one of the big factors in figuring FICO, but if they%26#039;re all at zero balance, any guidance on what would be best?

(Over the past few years I%26#039;ve managed to change my habits to where I%26#039;m pretty much on a %26quot;cash-only%26quot; basis, so paying off the existing balances is step 2 in cleaning up my credit.)

Optimum number of credit cards?

You should keep either one or two of your major credit cards, not department store credit cards. Credit scores are normally based on 5 factors - payment history, outstanding credit balances, credit history, type of credit, and credit inquiries.

Payment history - if you can%26#039;t payoff the entire balance, always pay more than the minimum payment due, even if its only $1 more.

Credit Balance - you%26#039;re right regarding the %26quot;balance in proportion to the limit%26quot;. You should try to keep balances below 30% of the credit line.

Credit history - cards you%26#039;ve had for a longer time will reflect better on your credit score, as oppossed to cards you%26#039;ve only had for a short time.

Type of credit - different types of credit (car loan, mortgage, credit cards) are usually better than just one type. But this isn%26#039;t a high weighing factor when determining your credit score. Don%26#039;t worry too much about it if you only have credit cards.

Inquiries - too many inquires in a 6-month period can negatively impact your credit score

As an FYI - credit scores above 620 are typically considered %26quot;prime%26quot; or less risky. People with credit scores less than 620 are usually considered a greater risk and will most likely not be approved for credit, or approved at a much higher interest rate.

Along the same lines.....even if all of your credit cards are at a $0 balance, you still have the opportunity to %26quot;max%26quot; them out if you decide to. This is something that banks/credit unions usually review if you%26#039;re applying for a loan. Because if you %26quot;max%26quot; out all of your cards how will you repay their loan.

Hope this helps.

Optimum number of credit cards?

Good job in getting this done!

I am proud of you, it is not easy.

Get one card and pay it off in FULL every month.

Good Luck!

Optimum number of credit cards?

I think 2 credit cards would be good. The first one should have a good rewards program. It would be used for day to day purchases and be paid off in full every month.

The second would have a low interest rate and would be used only for big emergency purchases that you would have to pay back over time.

Optimum number of credit cards?

well, in terms of collecting interest instead of paying it, the optimum number of cards is zero. Problem is, you%26#039;ll never see 20% gains on your savings account...but that%26#039;s what you pay on the plastic...

Do you use credit cards?

People get in such messes by misusing credit cards. I try to keep my balances paid off but still worry about having credit cards.

Do you use credit cards?

I use them for on-line purchases only. When it%26#039;s asked if I want the number remembered for future purchases, I always check the no block. I pay the balance each month. And I never carry my cards with me.

Do you use credit cards?

We do on occasion but we pay it off before there is interest due. Don`t want to pay for it twice.

Do you use credit cards?

Rarely ever use credit cards. Use my debit cards. I haven%26#039;t seen or touched the green stuff for so long I wouldn%26#039;t recognize it.

Do you use credit cards?

I do, but in moderation

Do you use credit cards?

Two but I never get them higher then I can pay off at the end Of the month.

Do you use credit cards?

I literally cut up all of my credit cards years ago and have never looked back.

One of the best moves that I have made in my lifetime. :)))

Do you use credit cards?

Yes, but I do not %26quot;misuse%26quot; them. If you treat them like real cash money - you will not have any problems. Do not spend more than you have in the savings account! CJ

Do you use credit cards?

yea i do, but really just to build my credit cause i barely got them a few months ago, but they%26#039;ve come in handy this time of the yr

Do you use credit cards?

went over limit one year on Christmas and took 3 years to pay it off. late charges, interest, over limit, etc etc then interest went from 8% to 21%. last year used a credit card 1999

Do you use credit cards?

The only one that I have is the debit card through my bank. I will never ever own another credit card again. I cut the ones up that I had a long long time ago.

Do you use credit cards?

look like you are answers from the small folks (my opinoin only dumbies carry forth a balance) -- yes i charge everything i can on my discorver but i pay the balance off when due!!!

Do you use credit cards?

I got rid of six credit cards several years ago and kept just one for emergencies and to rent a car if needed. It%26#039;s to easy to buy anything and everything just because you %26quot;want%26quot; it.

Do you use credit cards?

I have 2 because I have the need to rent cars (one only for that) and the other is stored for an emergency. Paying them off in totality if/when you get the bill is the only way to have them and keep sane.

Do you use credit cards?

Very seldom. I prefer to pay in cash.

Do you use credit cards?

i am in about 6000. dollars in debt and paying them off. i haven%26#039;t used a credit card of mine in eight months,. if i dont have the money for it, i dont buy it

Do you use credit cards?

I use a credit card for every spend I do, but I settle at the end of each month. It楹搒 just another way for me to manage my finances better. Leaving a balance makes the items you bought more expensive in real terms. Why shop around for bargains and then pay interest on your credit card. It just doesn楹搕 make sense.

Credit cards are like anything in life, you have to be responsible.

Do you use credit cards?

I don%26#039;t use them, I use a debit card and pay cash.

My son has 2 credit cards maxed out and is wants to know what he can do to correct his situation. An

I have asked him what he do if he could get them paid off. He told me he would cut the cards in half. He said the bank will not give him a loan because it would be an unsecured loan since he does not own his home or a vehicle that is worth more than the money he needs to borrow. He is not able to make the minimum payments every month and has to also deal with over the limit charges. He has asked me what to do. I suggested trying to open up a new credit card with a 12 month 0% interest introductory rate and transfer the balances but be sure to cut the cards in half first. But that will not work if the new account%26#039;s credit limit is less than he needs to consolidate the two. He is looking for a solution that will help him pay off his debt. Is there a way he can do this without finding a better paying job?

My son has 2 credit cards maxed out and is wants to know what he can do to correct his situation. Any ideas?

No more credit cards. Get Clark Howards book that helps kids with finance. www.clarkhoward.com

See if your son can get a second job. Also consider Consumer Credit Counseling service...they are free...

You can also call the credit card companies and explain the problem and sometimes they can help by reducing the interest rate. It happens.

My son has 2 credit cards maxed out and is wants to know what he can do to correct his situation. Any ideas?

He should pay them off immediately to avoid the extra interest on the revolving credit, then cut up the cards, terminate the accounts.

My son has 2 credit cards maxed out and is wants to know what he can do to correct his situation. Any ideas?

I am sorry to say, but you%26#039;re his dad. You never mentioned that you will offer to help him for now. . . You should help him with at least the minimum payment first before he ruined his credit. Just out of curiosity, how much did he owe?

My son has 2 credit cards maxed out and is wants to know what he can do to correct his situation. Any ideas?

he must first stop spending then he must go to the bank, ask for 3 months grace from the bank where they only capitalise the interest and require no capital repayments, then in those 3 months he needs to make a serious plan and budget, he got himself in that situation and he needs to get out himself, it will only be good for him as he%26#039;ll really learn to understand the value of money.

My son has 2 credit cards maxed out and is wants to know what he can do to correct his situation. Any ideas?

As a good start maybe he could sell off some of the things he purchased with them and use the profits to pay down the cards. He can also call the credit card companies and explain the situation and ask for a lower interest rate and maybe a smaller payment. Sometimes they will work with you because they still get their money as opposed to him filling a bankruptcy where they get nothing.

My son has 2 credit cards maxed out and is wants to know what he can do to correct his situation. Any ideas?

work his a** off and pay them off asap. debt is an awful awful thing!

My son has 2 credit cards maxed out and is wants to know what he can do to correct his situation. Any ideas?

Yeah, how about a 2nd job and quit spending money that he doesn%26#039;t have.

My son has 2 credit cards maxed out and is wants to know what he can do to correct his situation. Any ideas?

He should get a second or third night/weekend job and pay them off ASAP. You can%26#039;t get out of debt by borrowing money.

Credit cards-whats best?

where is and what is the best credit cards to get?

Credit cards-whats best?

Shop around. They all have different terms and conditions. Get the deal that suits you best.

Credit cards-whats best?

none is the best option

Credit cards-whats best?

Best to shop around go to uswitch or confused.com sites like these to see what%26#039;s the best deal on offer at the moment

Credit cards-whats best?

get one with 0%apr for 9-12 months then switch to another. Go to www.supermarket.com for all the best credit cards

Credit cards-whats best?

It depends on your spending habits. Do you want a balance transfer offer, do you pay it all off each month or do you want a lower interest rate. If you are in the UK then Martin Lewis%26#039;s website should be of help.

Credit cards-whats best?

First, look for the lowest interest rates!!

Choose a reputable company, one you have heard of - Barclaycard etc.

Make sure you don%26#039;t miss a payment or you end up paying extra, but used properly, credit cards are great.

Credit cards-whats best?

Definately agree with CJ, don%26#039;t get involved with them!!

But according to the Sunday Times:

GE Money 0808 208 1147

Marks and Spencers 0800997996

Skycard http://www.skycard.com

All offer a 0% discount rate for 12 months, with a standard rate of 12.9-16.9% afterwards

Credit cards-whats best?

Really depends on how you plan to use the credit facility.

If you plan to leave an outstanding balance on the card each month, then look for a card with a very low apr.

If however you plan to pay the bill each month, then look for a card with bonus payments, points etc.

Credit cards-whats best?

I agree with C.J. :-)

Credit cards-whats best?

actually cash is the best as there isnt any interest

Credit cards-whats best?

Go to I CAN%26#039;T WAIT TO GET INTO DEBT .COM or

I WANT TO GIVE AWAY ALL MY MONEY .COM .

and try to avoid the amateur ones that only ask for 25% interest and stick with a proper one at 75% interest , if your careful you should be suicidal within a year but if you don%26#039;t carry it everywhere with you it may take about a year and a half !

Credit cards-whats best?

why not have one with a difference, you get the card, but instead of credit on there, you top it up yourself, its great way of saving and its a mastercard so can be widely used, you top it up with a seperate card at the post office, www.cashplus.co.uk, you pay about 鎷? for the card as a one off fee, and cant get into debt with it

Credit cards-whats best?

Any of them that give you 0% interest for a year, then move the balance to another card after that year. I have furnished my house and bought my car on the %26quot;plastic%26quot; and have never paid a penny in interest.

Credit cards-whats best?

None of them, they all get you into debt if you let them. No matter how careful you are with them, you still end up paying a large amount of interest. It is not what you spend it is the accumulating interest charges.

Credit cards-whats best?

for me MBNA is the best or go for anything which gives 12 months intrest free on balance transfers and purchases

egg is good and so Mint

Good Luck

Kittu

Credit cards-whats best?

The ones with the lowest interest rate.

How %26#039;bout a bank debit card--no possible way to over spend.

Credit cards-whats best?

Not having one

Credit cards-whats best?

I always said I was never going to get a credit card.. yet last year hit a bit of a blip financially and had to give in to the laws of the world and get one...

I got a Tesco one... you can get it easily enough from their website and you can print the pages to sign and send off to them.. less hassle!

It seemed to have incredibly good rates... I%26#039;ve got 0% interest until August 07 and when the interest starts.. it didn%26#039;t seem too high.. quite reasonable actually.. But hoping to pay it off before I get to the interest rate part! (wishfull thinking eh!)

AND the cool part is you actually get to choose your own design online that is on the card.. (I chose the silver swirls.. incase you%26#039;re interested!)

But everyone is different... People%26#039;s different circumstances depend on which one would suite them best... you could try the following website to find a good rate for yourself personally:

www.moneysupermarket.com

Good luck in choosing the right one for you

xx

Credit cards-whats best?

None- a debit card is better then you can only spend your money and not the banks who would then rip you off with their charges.

Credit cards-whats best?

It depends what you want the card for, if its to buy stuff off the Internet i would get a quidity card from the mirror. Its a top up credit card where you can only spend what you put on it. You don%26#039;t need to have a bank account %26amp; there no credit checks. Just buy a copy of todays mirror newspaper %26amp; see for yourself or go to www.360money.com/quidity Good luck

Credit cards-whats best?

Right now the best card out is the American Express rewards card with Worldpoints offered by Bank of America. I gives you the best rates and the best rewards.

Credit cards-whats best?

Heard this morning that M%26amp;S AMOUR CARD, is best at the moment offering 3.6% int. on balance tranfers for the life time of the debt.

Credit cards-whats best?

I would assume that you will use credit cards wisely and not carry a balance. This way you reap all of the rewards, without it costing you a penny. Credit cards just offer too many advantages over cash to not use them, so don%26#039;t listen to all of these people who don%26#039;t know how to use a credit card and therefore recommend everyone stay away from them. Their lack of self-discipline is not your concern.

Avoid cards with annual fees. This is an unnecessary expense, unless you use an airline miles card (like American Airlines for example) or certain American Express cards. Additionally, to adequately leverage your spending habits and turn them into freebies from credit cards, you will probably need at least two cards. For example, you will probably want one card that gives you a high cash back reward on gas purchases, and one that gives you a high reward on %26quot;everyday%26quot; purchases (such as grocery stores, dry cleaners, etc.). Do your research and weigh what you normally spend your money on versus the benefits offered.

I would recommend a Discover Gas card to start out. Supplement that with shopping rewards card like an Amazon Visa (from Chase) or a Citi rewards card. Take note of how each card %26quot;rewards%26quot; you, either by points, gift certificates, or cash.

Credit cards-whats best?

The ones with 0% ! I think once the 0% peroid is over, switch to another wih 0% etc... But SERIOULY avoid them if you can. I know of people who spend money on them where they wouldn%26#039;t have if they didn%26#039;t have them, please consider first, many have got into serious debt becos of them %26amp; the temtation is there.

This is a list of all availabale ones %26amp; offers %26amp; % on them.

Credit cards-whats best?

Take a look at this information page http://www.youbigg.com/Credit-Cards.html it lists types of cards and information, it should also answer your question.

Credit cards-whats best?

ipoints

Credit cards-whats best?

That%26#039;s easy! Have the rewards calculator at http://www.creditcardtuneup.com/ calculate which card(s) will pay you the greatest reward for your spending profile.

I%26#039;m assuming you%26#039;re planning to pay off your balance every month. In that case, all that matters is what the card will pay *you* in rewards. If you%26#039;re not planning on paying off your balance every month, then I%26#039;d recommend that you not get a credit card at all.

All of these other people who are answering your question are just guessing which cards will be best for you, because you haven%26#039;t actually given them the information they would need (i.e. how much you spend by category and whether you%26#039;re planning to carry a balance) to really answer your question.

If you want to hear my guesses based on what I know about other peoples%26#039; spending profiles, here they are:

Best Single Card

Because most people spend quite a bit on gas, groceries, and drugs (i.e. %26quot;EDP%26quot; (Every Day Purchases)) and there are several cards that offer 5%+ on EDP, usually a card that offers a 5%+ on EDP and 1%+ on non-EDP will be the single best card. Examples of such cards are the Driver%26#039;s Edge (6% on EDP for the first year), AmEx Blue Cash (5% on EDP after $6500 YTD spending), and Citi Diamond Preferred Rewards (basically 5% (in ThankYou points) on EDP for first year).

Two-Card Strategy

For someone who%26#039;s willing to manage two cards, usually the best card to supplement the 5%+ EDP card will be a card that pays 1.5%+ on *all purchases*. For example, the 1.5% Fidelity Visa card.

Three-Card Strategy

If you%26#039;re willing to manage three cards, then the third card to add to your portfolio will depend on the categories in which you spend the most money. Well, really that%26#039;s true for even the first and second cards, but the advice I%26#039;ve given up %26#039;til now is *often* optimal, but not always -- it always depends on your spending profile.

Anyway, if you spend a lot at restaurants, then you%26#039;ll probably want something like the Citi Professional card which pays 3% back at restaurants. If you spend a lot on utilities (and can do so through your credit card), then you might want to check out the Citi Home Rebate card (6% on utilities for the first 12 months). If you spend a lot on home improvement, the Chase Home Improvement Rewards card pays 3% back on home improvement. If you travel a lot, there are other good cards. If you spend a lot on office supplies, other choices. If you spend a lot on internet/web/advertising, still other options. And the list goes on.

Optimal N-Card Strategy

Figuring out the optimal 1 card, 2 cards, 3 cards, etc. for your spending profile actually requires a lot of research and math. The calculator tool at %26quot;Credit Card Tune-Up: Maximize Your Cash Back Rewards%26quot; ( http://www.creditcardtuneup.com/ ) will do the number crunching for you. It%26#039;ll estimate your earnings from the best 1 card, best 2 cards, best 3 cards, etc. Then you can decide on the %26quot;sweet spot%26quot; for the rewards/hassle tradeoff.

Credit cards-whats best?

what do u mean by best, low apr, or high rewards.

go here to find the best credit cards http://www.bestcreditrates.net

Can Interpol catch me in Peru if I do not pay my credit cards in US?

I can%26#039;t pay my credit cards. I%26#039;m living in New york 8 years ago and now I%26#039;m coming back to my country forever. Could INTERPOL search me in my country to be deported to USA?

Can Interpol catch me in Peru if I do not pay my credit cards in US?

Find out about the Statute of Limitations that applies to banks who fail to collect unpaid credit card dues. All credit cards are insured and should you vanish, the bank will claim money from its insurers.

The Interpol is too busy with bigger problems such as combatting global terrorism, money laundering, drugs trafficking, organized international gangs engaged in illegal immigration, fake currencies...the list is endless. An unpaid debt of a few thousand $ will never be sent to Interpol.

However, the bank can prefer charges against you in any court in Peru, through the US embassy or consulate or a local lawyer, if the amount you owe is very high and justifies such an expense.

However, I strongly suggest you pay it because a bad report, especially on finances and money, always follows defaulters and can seriously affect your employment chances in Peru or anywhere in the world. Your future employers might ask for references from the past and your unpaid debts could find mention in their reports.

Can Interpol catch me in Peru if I do not pay my credit cards in US?

no they canot as the credit bureau is only forUSA and this is what they use to find u

Can Interpol catch me in Peru if I do not pay my credit cards in US?

There is no debtors prison like there used to be, but yes your credit will follow you.

Can Interpol catch me in Peru if I do not pay my credit cards in US?

Lets just hope they never google to see who says %26#039;INTERPOL%26#039; online..........

:-)

Can Interpol catch me in Peru if I do not pay my credit cards in US?

Yess the interpol could catch you.

Arun

Can Interpol catch me in Peru if I do not pay my credit cards in US?

I doubt that the US is going to expend any effort to extridiate you. It is possible that your bad credit report may follow you to Peru. You may find this out when you apply for a loan in your native country.

Can Interpol catch me in Peru if I do not pay my credit cards in US?

No. Peruvian legislation doesn%26#039;t include prison for debts.

9k, would you pay off a truck loan or 2-3 major credit cards?

If you had a vehicle loan for 9k and credit cards that equaled 11k, but you could pay off 2 if not 3 of them which would you spend the money on if you were given 9k to do either with and WHY??

9k, would you pay off a truck loan or 2-3 major credit cards?

Pay off whichever has the highest interest rates.

That usually is the credit card.

9k, would you pay off a truck loan or 2-3 major credit cards?

look at the interest rates... the ones with the higher rates should go first, they%26#039;ll cost more in the long term

9k, would you pay off a truck loan or 2-3 major credit cards?

First, I would make sure I was current in all of my payments. If so, I would pay off the credit cards because people are expected to take their time paying off things like truck loans. Credit card debt is never a happy experience. Good luck!!!

9k, would you pay off a truck loan or 2-3 major credit cards?

I would apply the money in order of which debt has the highest interest rate. It will save you money in the long run. Then apply the payments that use to go toward the high interest debt toward any remaining debt.

9k, would you pay off a truck loan or 2-3 major credit cards?

Keep paying more than minmums on the credit cards, pay car loan that payment per month.No need to pay off unless you have plenty to pay credit cards down or off.

9k, would you pay off a truck loan or 2-3 major credit cards?

credit cards can hav higher interest rates so I would go for them on first thought. But if they have 0% interest I would pay off the ruck first then pay down or off what ever CC was left. You can always cal the cc comanies and tell them that you will/are transfering your balance to a 0% CC if they refuse to give you that inerest rate. Most CC companies do not want you to leave them and will change it immediately when you talk of leaveing them.

Good luck

9k, would you pay off a truck loan or 2-3 major credit cards?

Usually, an auto loan has a much lower interest rate than most credit cards, but consider this - the average car loan is structured to be paid off over five years, whereas with high interest credit cards, you could could still be making payments on them long after your truck is in the junk yard. My advise is to pay off the credit cards first and only keep the lowest, fixed rate, no annual fee one (if you have one) for EMERGENCIES ONLY. If you have multiple cards, you may get tempted to use them, especially around the holidays. If your credit is good, see if your bank will issue you a credit card - their interest rates are usually way lower than %26quot;stand alone%26quot; credit card companies who thrive on high interest, minimum monthly payment deals.

9k, would you pay off a truck loan or 2-3 major credit cards?

As much as I hate the idea of paying the card companies...I would pay off your largest/highest interst rate card first. Get rid of the card balances as soon as you can b/c it%26#039;s a known fact that a person overpays that balance, with high interest charges, sometimes, 3-4X the amount of the original bill over time. I would leave the one with the smallest balance b/c you will probably pay that off in no time at all. With the car loan, it%26#039;s meant to be a bit of long term and as long as your rate on that is o.k., not to worry, you%26#039;ll get that done. Also if you come up on some large sum of money again you can pay that off then.

Good luck (well you already seem to have that)!

9k, would you pay off a truck loan or 2-3 major credit cards?

It%26#039;s all about the interest. Pay off whatever has the highest interest first. Another idea is, put your money somewhere else where it can make you money (stocks, mutual funds, CDs etc). It must have a higher return than what you are paying on you loans for it to work. Having someone else%26#039;s money work for you is awesome. You have to know what you are doing though. If you don%26#039;t feel comfortable doing this, then just pay off you loans with the highest interest first.

9k, would you pay off a truck loan or 2-3 major credit cards?

I would compare the interest rates on the truck loan, the 3 credit cards, and what the market is offering. If I could transfer a balance to a low rate, I would pay off all I could and transfer the remaining balance to the new low rate card. Otherwise, I would pay off each loan, from the highest rate to the lowest, which usually means paying off the credit cards.

The reason for this approach is to save the most on interest and you would apparently be able to eliminate 1 or 2 of the credit card payments alltogether, which will leave you more money each month to pay off the third card sooner.

9k, would you pay off a truck loan or 2-3 major credit cards?

Pay off the credit cards and don%26#039;t use them anymore unless you plan to pay the balance due when you get the bill. Interest rates are much higher on credit cards usually, and they are the worst debt you can have. If you use credit cards, pay the balance when due, do not allow them to charge you interest anymore. Learn to live within your means - no more accumulating credit card debt. Credit card debt destroys families and sends the wrong message to the children of people who abuse credit cards. Pay off monthly or don%26#039;t use them.

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

Or just transfer the balances to my new girlfriend%26#039;s credit cards?

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

pay them off

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

pay them off

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

well if you spent the money you have to pay for all the stuff. you can%26#039;t make her pay you meanie

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

Don%26#039;t be a burden to someone else. Pay them off ASAP!

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

pay them dude, you maxed them

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

You%26#039;re joking right? What is that last crazy comment about transferring it to your new GFs card? Why would you consider doing that and why would she consider letting you???

One question, where are YOUR credit cards?

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

PAY OFF!

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

Pay them off. That is really not cool. If you don%26#039;t pay her, she may take you to court. make a payment directly to the credit card not her, so she can%26#039;t spend it and then say you never paid and take you to court. keep records. Whether your split is amicable or not,things change when people split up!

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

yes, you transferred the balance you need to pay it off. What type of questions is that. Take care of your own expanses.

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

duh, pay it off! or if you can%26#039;t, transfer it under YOUR credit!

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

DUH! Pay them off unless you wanna be really cold hearted!

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

uhhh, yeah you need to pay them off and thank the girl for letting you use them.

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

you should pay ur own debt. dont put that on other people! you could really hurt their credit and prevent them from being able to get things like a house or a car.

P.S. If you dont have the cash dont buy it!

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

when I read the bold head line, I thought, this might be a responsible guy...but then when I read the whole question, I thought, this is a$$ho boy. why would you maxed out your gf%26#039;s credit cards or have your new gf pay for your debt? are you just a male gigolo looking for sugar mama and not love?

be a man, take responsibility for your actions.

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

Turn your question around would she if she had maxed out your cards? Doubtful.

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

Definitely just transfer the balances, less explaining to do.

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

Do neither.

Let your old g/f worry about them.

They are HER cards, correct?

Besides, you don%26#039;t want to give your new g/f instant ammo, if you know what I mean.

;)

Peace!

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

pay them off that is a dumba** question

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

Wait a minute.

If you pay them off, what is she going to have to remember you by?

And if you transfer the balances to the new girlies cards, how are you gonna have any fun with her?

I say let her keep them, then max out the new ones as well!

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

You should pay off your debt a.s.a.p. and not leave some poor girl with bad credit. Remember what goes around comes around. And you wouldn%26#039;t want some guy doing that to your mom or your sister, etc. And if you don%26#039;t care that some one would do that to your love ones, then i pity you . Because that would mean you do not like your self very much. Treat your girlfriends the way you would want to be treated!

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

you are a jerk!

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

if u spended the money yes fast before she suews u

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

What do you think, pay off her credit cards.

If you would be so mean and not pay the bills, remember what goes around comes around.

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

Your girlfriends must be totally nuts to let you TOUCH their credit cards - or anything else.

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

They are her credit cards, let her pay for them. It will not be a total loss; she will get an education.

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

pay...

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

You need to pay off the debts you owe. How shady to transfer to your new gf%26#039;s account %26amp; she is dumb if she lets you do that. I%26#039;m sure to see you on some judge t.v. show being sued for this..

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

Oh no! You should definately pay off the credit card bills! That%26#039;s not right to transfer them to your current g/f credit. Don%26#039;t ruin someone else%26#039;s credit.

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

Payoff %26#039;her%26#039; credit cards with your new g/f%26#039;s credit cards?

Are you serious? You have got to be joking...If you are joking, hahaha, if you%26#039;re not, then, GET A LIFE!

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

HOW PATHETIC ARE YOU WHY ARE YOU LIVING OFF THESE WOMEN?

pay off the money u spent and leave your new girlfriend out of it.

GET A JOB AND PAY FOR YOUR OWN STUFF.

If my girlfriend and I break up should I pay off her credit cards that I maxed out immediately?

you should pay them off

What do you do if a family member has committed identity theft against you and taken out credit card

I have a family member that has committed identity theft against myself, as well as my father. He has established credit cards under my name using my social security number and I am afraid that going to authorities will cost me money, or get him into some serious trouble. He has taken credit cards out in my name and they have now been handed over to collection agencies. Needless to say, my credit is screwed. He is will to admit his wrong-doings. Can the amounts be taken out of my name and somehow established under his own? The same with my father? What do I need to do to clear my name and hopefully, protect this family member at the same time, in terms of jailtime. Any help would be greatly appreciated.

What do you do if a family member has committed identity theft against you and taken out credit cards?

My advice is to speak to a lawyer and the best, most inexpensive way to do this is through Pre-Paid Legal Services. For more information visit the website below, and feel free to contact me through that site if you have further questions on how this service may be able to help you. I encourage you to find out what your rights and options are in this situation.

I wish you the best of luck.

http://www.getprotectedhere.com

You need to talk to a lawyer, Pre-Paid can help with that. They also offer and identity theft shield program where they assign and investigator (from Kroll) to handle all the paperwork and other countless issues that go into dealing with identity theft. Because this has already happened, it will cost you to get this corrected through Identity Theft Shield, but the lack of headaches will be worth it. A pre-Paid Legal Plan in my State (WA) is $17 + $9.95 for the Identity Theft Shield. I would check both of them out.

What do you do if a family member has committed identity theft against you and taken out credit cards?

Call the police - then shoot him. If he is a family member then just in the shoulder or kneecap - but shoot him all the same. People have to learn.

What do you do if a family member has committed identity theft against you and taken out credit cards?

call the cops and report this asap !

What do you do if a family member has committed identity theft against you and taken out credit cards?

I%26#039;d prosecute them to the fullest extent of the law, then I%26#039;d KILL %26#039;em.

What do you do if a family member has committed identity theft against you and taken out credit cards?

go to the police its a fenlnoly silly

What do you do if a family member has committed identity theft against you and taken out credit cards?

He committed a serious crime and it can ruin yours and your fathers credit. He must be turned into the police. If you let him get away with this next time it may be much more serious.

What do you do if a family member has committed identity theft against you and taken out credit cards?

Get a credit report. The cost is worth the benefit. Find the mistakes. Force him to admit to it, get your credit fixed. Forget prosecuting until you get your life back on track first. Once he%26#039;s admitted to the mistakes, and you get clearance that your report will be changed, THEN go after him.

What do you do if a family member has committed identity theft against you and taken out credit cards?

even if it was my brother i would get him in jail, you mite be the first but if that person dose not get the impact of is actions it could be worst in the future.

What do you do if a family member has committed identity theft against you and taken out credit cards?

We should%26#039;ve been only child%26#039;s

What do you do if a family member has committed identity theft against you and taken out credit cards?

You really should turn him over to the police. What he has done is illegal!!! He%26#039;s ruined your credit, your name and your father%26#039;s. He needs to be stopped NOW!!

What do you do if a family member has committed identity theft against you and taken out credit cards?

Wow, that%26#039;s a tough one. You hate to rat out a family member but he must have no conscious at all to screw both you and your father over. I would definately call the authorities and any financial institutions that are involved after you file your police report.

Thanksgiving dinner should be really interesting with your family this year.

What do you do if a family member has committed identity theft against you and taken out credit cards?

He needs to be held accountable for what he%26#039;s done. You don%26#039;t need to press charges against him. Just let the credit companies know and they%26#039;ll take the necessary legal action. Meanwhile, you get your credit repaired and he learns a tough lesson.

Also, at this point there%26#039;s no way to get the balances transfered to his name. A serious crime has taken place and the accounts will likely be frozen. He%26#039;ll likely be required to repay whatever he%26#039;s fraudently borrowed, in addition to fines and possible prison time.

FYI, you didn%26#039;t do this - he did. He obviously felt that you and your father were targets that he could get away with harming. That%26#039;s not what I call family. He was completely disloyal to you and he%26#039;s betrayed you in a very serious manner. Like I said, you don%26#039;t have to prosecute. Just let the finance institutions know what%26#039;s happened so that you can straighten out your end. You have zero responsibility to feel guilt as a result of any action these companies might take.

What do you do if a family member has committed identity theft against you and taken out credit cards?

If you don%26#039;t go to the police, you will be held responsible for the charges on the credit cards the family member took out fraudulently. Your credit will not be screwed if the purchases were unauthorized by you; you are legally not responsible for credit card charges you did not authorize. Your family member must pay his dues, and if you won%26#039;t press charges the credit bureau will because if he doesn%26#039;t pay them back the money he owes then they will be set back. I%26#039;m sorry, but the family member is a criminal and he needs to be treated as such.

What do you do if a family member has committed identity theft against you and taken out credit cards?

Why would you want to protect someone who has ruined your credit? Do you have any idea how long and how hard it is going to be to straighten this mess out?

Why should he make a mistake and not be held accountable? Call the police or go to the station and make a report. You%26#039;ll have more help with clearing this up than if you try to %26quot;hide%26quot; him from legal punishment.

I can see him now, sitting there thinking, %26quot;Ha. She likes me. She isn%26#039;t going to turn me in. I%26#039;m going to go out and buy some CDs and maybe some beer. She isn%26#039;t going to tell on me.%26quot;

What do you do if a family member has committed identity theft against you and taken out credit cards?

You need to make sure the person is not using your ID. Actually reporting it is the best. That person may not want to pay off the debts they have run up in your name once you say that you don%26#039;t want to press charges. Once it is reported then you can start getting things back in order.

What do you do if a family member has committed identity theft against you and taken out credit cards?

It won%26#039;t cost you anything but pride. Call the police and make sure that everyone knows about them too.

Sooner than later!!!!

What do you do if a family member has committed identity theft against you and taken out credit cards?

dont let them get away with it they obviously have no respect 4 u or other members of your family u wouldnt let a stranger do it 2 u they might think twice about tryiny 2 screw u over again u dont get nothing in life 4 free maybe your the one to teach them that lesson people like that make me sick why should they get away with free loading its fraud so **** them

What do you do if a family member has committed identity theft against you and taken out credit cards?

Grab the fam member by throat - get cards and cut up - call all companies and tell them - write to credit report companies and tell them.

If the fam member is under 18 not too much will happen to him or her. If older something might - but you gotta clear your and your dads credit up.

What do you do if a family member has committed identity theft against you and taken out credit cards?

unfortunately dude the only thing that you can do is lick your wounds and pay that debt. you should prosecute to the fullest extent of the law you are a victim. He is gonna have to pay for it sooner or later, we reap what we sow. if you and your father dont take care of it , he may not be so lucky next time. He hasnt learned his lesson by you rewarding him for sticking nine inches of d... up in you.

What do you do if a family member has committed identity theft against you and taken out credit cards?

Why would you want to protect someone who stole from you? Because that%26#039;s exactly what they did when they took your identity without your permission. Stealing should be prosecuted no matter who it is!

What do you do if a family member has committed identity theft against you and taken out credit cards?

report them they have no claim to family now

What do you do if a family member has committed identity theft against you and taken out credit cards?

Call the authorities and report it. Letting him get away with it is the best way to tell him that what he did was ok. Protecting them is the worst thing you can do for them. You cannot clear your credit unless it is reported.

In a nutshell why would you be willing to screw yourself and your future to protect someone who treated you that way. If he is willing to admit his wrong doings, he should be willing to accept the punishment. He knew when he did it, it was wrong and that there was a chance he would get caught. Its time for him to grow up and accept the consequences.

What do you do if a family member has committed identity theft against you and taken out credit cards?

A few immediate steps to take, regardless if it%26#039;s a family member, when faced with identity theft:

1) Contact your bank %26amp; other lenders immediately to freeze the accounts and/or flag those suspicious transactions

2) Contact any of the three major credit bureaus to file a %26quot;fraud alert%26quot;

3) File a police report where you live to have the documentation needed to eventually reverse those fraudulent charges.

Additionally, most identity thieves do not simply victimize you once. If initially successful, they will either find additional ways to vandalize your credit and/or pass your sensitive information on to their criminal friends who will attempt to repeat the process.

In any case, regardless of family membership or not, identity theft is a crime against you and you do have certain rights to protect your financial future.

For more details on how you can fight back or better yet prevent this from happening to you, check out this resource for what a mother recently did when faced with repeated identity theft attacks from her very own daughter.