How do I switch credit cards and not affect my credit score?
Q. I want to get a frequent flyer credit card but I already have 3 credit cards with generous limits. I don't need these credit cards and I would like to cancel them and have this "possible credit" to go towards the new card. I heard once that canceling a credit card has a negitive effect on your credit score. Is this true? If so, how do I switch credit cards and avoid affecting my credit score in a bad way?
Asked by msc44 - Mon Jan 21 23:44:34 2008 - - 2 Answers - 2 Comments

A. Yes, it is true. Having active credit cards on your record is no problem. It shows that card issuers are willing to extend credit. If these cards have no balance on them, you should have no trouble getting a new card. Apply and start using it. If there are balances on your other cards, it is a different issue. You should pay them off, or transfer them to the card with the lowest interest rate and pay that off as quickly as possible. Then make sure you never have a balance on a card that exceeds about 30 percent of the credit limit. Paying the monthly charges in full each month is the best policy. It also means not paying any interest.
Answered by Serge M - Tue Jan 22 05:41:50 2008

What credit cards are made so that you are instantly approved or denied?
Q. I preferably need a studen credit card (to build up my credit-seeing as how I do not have any line of credit). I just need to know which credit cards/student credit cards instantly approve/deny you or at least you find out some sort of answer within a few hours.
Asked by ersan b - Fri Jul 11 15:42:58 2008 - - 11 Answers - 2 Comments

A. Actually most of the companies allow you to apply online instantly. But you have to find the right card that you can apply for. To do this, goto the following site and find the card you want in student section and apply online. This site only has cards that you can apply and get a decision instantly. Good luck!
Answered by KnowItAll - Fri Jul 11 15:51:18 2008

How do you lower your credit limit without lowering your overall credit score?
Q. I have only have one revolving credit card, and I have a very high credit score. Because of this overall score they subsequently increase my credit line, even though I don't ask for or use this revolving line of credit. Question? I have been told if you ask for a credit line decrease they lower your overall credit score? Why? What can you do to minimize a lowered credit score?
Asked by Tim - Thu Dec 6 15:56:47 2007 - - 11 Answers - 1 Comments

A. Your talking about your debt to credit ratio which makes up 30% of your overall score. If your balance is really low and your new credit limit reflects no more then 30% usage, your score will not be affected. If however your new limit makes your debt to credit ratio over 30% your score will take a hit. There is nothing wrong with having a high limit as a matter of fact it's good since it makes it hard to exceed 30%. It's not the credit you have that matters it's how you manage it that counts.
Answered by unknown - Thu Dec 6 16:07:23 2007

How fast is your credit score affected by changes in credit utilization?
Q. Basically, how current is the credit agencies records? Under normal conditions, my credit utilizaiton varies wildly. When applying for credit, I generally want 10-20% credit utilization. I can make that happen, but I wanted to know: How long after I make it 10-20% should I apply for credit? How long do I need to hold my credit utilization at 10-20%?
Asked by great_and_mighty_adam_levine - Fri Sep 4 08:39:52 2009 - - 3 Answers - 1 Comments

A. Most creditors report to the credit bureaus once a month.
Answered by Dixie Darlin' - Fri Sep 4 08:45:03 2009

How can I get my credit card company to report account information?
Q. I got my credit report today and it shows that my total credit amount is $300 and I have $296 available. After further inspection I noticed that only one credit card had reported a credit limit/max balance and that all of my credit cards hadn't been reported since April. Is there an effective way to contact the credit card companies and get them to report accurate and up to date information to the credit bureaus? I feel that this issue is affecting my credit score, so I would like to fix this. Thanks in advance.
Asked by awill110 - Wed Jul 18 19:56:13 2007 - - 6 Answers - 0 Comments

A. They only report every 6 months. Some do it sooner, but that's rare.
Answered by ZinaRae - Wed Jul 18 20:00:50 2007

What credit card should I go for citi bank or bank of america?
Q. I have a credit score of 700 and wanting another credit card. I was thinking about citi bank or bank of america. What one should I get? I only have one other credit card from Wumu. I want a credit card that report to the 3 credit bureaus every month. Anyone has either one of these cards, if so, what one did you like and why?
Asked by azkoolchik - Mon Jun 30 18:39:55 2008 - - 8 Answers - 1 Comments

A. Definitely NOT Bank of America. They recently upped peoples APR without any explanation or reason; it was all over the news. Try a company that's a little less shady. There are plenty of horror stories of what this company has done to their consumers.
Answered by Zerrah - Wed Jul 2 14:03:57 2008

My credit card balance is over 50%. How long will it take my credit score to go back up?
Q. Hi. I recently just got my first credit card ever and used it to make a $1600 purchase. The credit limit is $3000, so obviously I'm over 50% of the balance, and I just learned that's bad for credit scores. I expect to be able to pay off the purchase in the next two or three months. Will my credit score go back up immediately after I get the balance on my card down, or will it take a while? Thanks.
Asked by Casey - Mon Feb 26 19:25:03 2007 - - 3 Answers - 2 Comments

A. Once your percent gets to below 30% of your available credit, you will see improvements. They lower the percentage, the higher your potential score is.
Answered by Mariposa - Mon Feb 26 22:37:18 2007

No credit, How do I start and what is a good credit card for a beginner\r?
Q. I am 20 years old and after trying to get a card for a store I find I have 0 credit history. I have never owned a credit card and want to pick a good one to start bulding credit. Does anyone know a good card to go with that has low interest? Heck if you have any credit tips it would be helpful too...Thanks!
Asked by Michael - Wed Feb 21 15:40:20 2007 - - 11 Answers - 0 Comments

A. Usually gas cards are the easiest to get. You might try a Master card but Capital One has some really low interest rates. Ask for $500 and start charging and paying off the total balance each month. The card company will soon get fed up and up your limit hoping that you will start paying interest
Answered by Johnny - Wed Feb 21 15:46:36 2007

What credit cards in CANADA will I be approved for with a 529 credit rating?
Q. I have paid almost everything off except for OSAP (of course it seems like eternity til that happens!) I would like a credit card for emergencies and to re-establish my credit. Please help me find a credit card that is available in Canada!
Asked by jproulx8 - Thu May 15 10:41:21 2008 - - 3 Answers - 0 Comments

A. The other answers are right, with that credit score you're not likely going to get approved for any conventional cards, and you're likely stuck with a "secured" card to rebuild your credit. Capital one is likely your best bet. Other secured cards require 100% of your credit limit as security (ie. $500 deposit for a $500 limit), Capital One varies and some qualify for a $750 limit with a $75 deposit (10%). Capital One will also convert your card to a normal credit card after 6, 9 or 12 months of good payment history (increasing your credit limit etc). Next after Capital One I would recommend "Citizens Bank of Canada" for their secured Visa (this WILL require a 100% deposit), but as with the Capital One card they will convert it to a… [cont.]
Answered by Mugwug - Sun May 18 09:56:55 2008

What types of credit is needed to get a high score?
Q. My credit score is about 615. I am working on improving my score so that I can qualify for a mortgage loan with low financing in about a year or so. I currently have an auto loan, and 3 revolving credit accounts. (All bank credit cards) Two of the revolving accounts are new, and the other almost a year old. My auto loan will be a year old in July of this year. Should I apply for more credit to get my score higher? If so what type of credit? What is a good mixture of credit to have to get a person's score higher? Any advice is appreciated. Thanks!
Asked by jade_blu_eyes - Sat May 6 11:28:57 2006 - - 2 Answers - 1 Comments

A. Keep your payments up-to-date and you should be good. Don't get more credit. A score of 750+ is average for a good IR. Just keep showing the credit companies that you can be trusted to repay loans. Now is a good time to pull all three of your credit reports and analyze them. Correct any errors and make sure everything is correct.
Answered by Jenx880 - Sat May 6 11:33:28 2006

How does getting credit back on your credit card work?
Q. Let's say I buy something for $100. I return it and they say I will have that credit back on my credit card. So now my credit card balance is $100? What if I paid for that $100 already and then returned it and got credit back? Can a credit card have a balance and have money withdrawn from it?
Asked by Dr. Bass, M.D, Ph.D - Wed May 21 19:25:25 2008 - - 4 Answers - 0 Comments

A. Yes. The retailer will credit back the $100 onto your account. If you already paid it, you'll have a postive balance.
Answered by bud68 - Wed May 21 19:41:24 2008

What type of credit card can I apply for and get approved with current bad credit to start rebuilding?
Q. Im currently disputing a lot of derrogatory info on my credit reports from all 3 agencies. I currently have no major credit cards and was informed that if I opened a credit card account and made the payments on time that would up my credit score.
Asked by Mrs. E - Fri May 30 10:56:21 2008 - - 6 Answers - 2 Comments

A. Secured credit card would be your best bet. This will report to all 3 bureaus as a credit card, and will get you back into good habits of spending money on plastic. An unsecured credit card in the hands of someone with bad credit trying to rebuild, isn't always the best thing. A secured credit card is issued by many major banks. I would recommend the Bank Of America Secured VISA. You can start with as little as $300 on it, and continue to deposit money to the card. This will build your credit immensely. After 6 months of responsible use with this card, you score will likely have improved, as well as your financial responsibility, and you can then look into getting a "starter" unsecured credit card.
Answered by Reality Check - Fri May 30 11:01:17 2008

What kind of credit card could I possibly get with having horrible credit?
Q. So my credit score is something like 562. I am looking to get a credit card with something like 2000 dollar limit or lower that wont have unbelievable fees. Does something like this exist? I've applied for credit cards over the last year and have been denied each time. Yeah, my credit sucks. What can I do?
Asked by God Country America Bush Freedom - Wed Jul 21 12:07:29 2010 - - 2 Answers - 0 Comments

A. Every time you try to get a credit card, the inquiry reduces your rating. It is usually only 1 or 2 points, but if you have bad credit it can reduce it up to 5 points. You will not find a card with a $2,000 limit. The best you can hope for is one with a $250 limit. Problem with a limit that low. Any time you use more than 30% of your available credit limit you are destroying your rating. Ex: $250 limit - never use more than $75 at any time during the month on that card. And, of course make sure you pay a credit card in full for top ratings. Carrying balances on credit cards can destroy credit very easily. There are some cards, but I consider them scams. A certain bank has a card. $250 limit $95 annual fee $75 proceesing fee $10 monthly… [cont.]
Answered by Judy - Wed Jul 21 12:15:05 2010

What is the best credit card to get for a starter in the credit world?
Q. I'm looking at getting my first credit card. I'm 20 years old and I have a credit card that is linked to my parents, so I have near perfect credit. I'm trying to start building my own credit and I want to know what is the best card for a young person trying to build their own credit.
Asked by buzzdogear777 - Tue Jul 6 19:53:38 2010 - - 4 Answers - 0 Comments

A. No credit card is best or rather every card is best if you are alert and repay the amount borrowed on time. Hence as you are a new starter so be careful and always pay back on time and this will surely increase your credit score. Now for good credit cards it differs some have 0% APR for the first year some give rewards and cash back on some purchase so you have to choose which suits you the best.
Answered by Macon - Tue Jul 6 21:41:47 2010

How to improve my credit scores for free?
Q. I have a debt of 897.00 on my credit score that has been paid already, I need to build my credit to buy a car my credit score is 550 and I'm not planning on getting a credit card to build my credit. How can I build my credit?
Asked by unknown - Mon Jun 7 02:06:19 2010 - - 2 Answers - 0 Comments

A. Why don't you want to get a credit card? A credit card is the easiest way to build a good credit history. You can get a basic card which costs nothing, and all you have to do is buy a few things a month and pay it back on time. If your dead-set against that, you could apply for a small loan. Just store the money, then give it back when it's due. But this costs money, because you'll have to pay the interest. If you have phone bills, cable bills or whatever in your name, these will be going on your credit history as well. But as I said, the easiest and quickest way to build a good credit rating is with plastic.
Answered by Middle N - Mon Jun 7 02:17:28 2010

What is a good credit limit for a first credit card?
Q. I got my first credit card a couple years ago via Bank of America, and my current credit limit is $9000. Since I don't have any experience with credit cards in the past, I'm wondering if this is good or not? Is there anyway I can increase this limit? What do most credit card limits start at?
Asked by Michelle W - Sat Oct 4 04:41:57 2008 - - 7 Answers - 0 Comments

A. 9000 is a very good credit limit, definitely dont try to increase it because that puts an inquiry on your credit report which causes your FICO to lower. most people think the higher their limits the better their credit and this isnt true(it does effect it slightly but there are far greater ways to raise FICO). one thing to definitely keep in mind is that if you feel you will never need 9K limit; call and get it lowered, this doesnt hurt you at all and is a good idea to protect yourself from identity theft. people get these ridiculous credit limits and dont realize how appealing that is to ID theft. but to answer your question the best way to increase it without putting an inquiry on your credit report is simply to not use the card at… [cont.]
Answered by sam19zzaz - Mon Oct 6 19:35:52 2008

What is the best credit card to establish credit?
Q. I am a student and I do not have any credit. What kind of credit card would be good for me to start building my credit up? I do not want anything that has a monthly fee, and it does not need to be a high credit limit because I will be buying something and paying it right off. Any suggestions?
Asked by unknown - Wed Jun 2 19:24:52 2010 - - 2 Answers - 0 Comments

A. You should go to your local credit union or bank. They will have the best interest rates. Also, credit unions are more lenient lenders so you will be more likely to get approved. If you cannot get approved for a regular card you can still get a secured card. This is just like a regular card, but you will have to have a savings account to use as collateral. This will build your credit by showing a payment history and after a year or more the bank will release the hold on your savings.
Answered by OhiosGirl - Wed Jun 2 19:27:50 2010

How do I establish credit without a credit card?
Q. Credit cards are becoming more and more picky about extending credit, and the interest rates are through the roof. What are some other ways I can establish solid credit without a credit card or major expenses? I go to college full time and work full time, I don't want to get into heavy debt.
Asked by yage v - Tue Jun 24 11:25:38 2008 - - 8 Answers - 0 Comments

A. I agree with those saying to get a credit card - find one, such as capital one, who offer low limit cards, starting at 250 dollars, to college students. You will pay some fees, but pay the card on time for 6 months (put simple recurring bills such as groceries on it and pay it off in full each month) and after the 6 months ask to be switched to a no, or low fee card. I would also apply for a small signature loan with a credit union, and a small deferred interest federally subsidized student loan if possible. This will build additional credit history and cost you nothing as the government pays the interest and payments until you are out of school. Drop it in your savings account and reap the rewards of some free conservative investment… [cont.]
Answered by dylan w - Fri Jun 27 03:59:50 2008

What is the best credit card for an 18 year old?
Q. I am only getting a credit card so that I can make small purchases and pay them off right away to build my credit. Please do not lecture me on how to use a credit card, I am already fully aware. I just want to know which credit cards have the lowest rates for an eighteen year old with no credit. Thanks in advance! If you are just going to answer "none' don't bother.
Asked by alilley07 - Wed Dec 5 12:18:42 2007 - - 11 Answers - 0 Comments

A. As long as you're responsible and pay off the purchases ASAP you won't have to worry about interest rates. I've had a card for 5 years and the only time I paid interest rates were my first few months before I realized you could pay off your balance more than once per month. Good luck!
Answered by jmattiesmufc - Wed Dec 5 12:50:15 2007

What is the best credit card to apply for for the first time?
Q. I have years of excellent on-time rental history, however I have no credit because I've never been in debt (always pay bills on time) go figure. I was wondering which credit cards I could apply for, for the first time. Wal-Mart Credit card rejected me because I have no credit, and I'm just looking for something small so I can put things on the card and pay them off quickly to establish some sort of credit. Any suggestions?
Asked by flori0009 - Sun Sep 30 08:24:15 2007 - - 6 Answers - 0 Comments

A. i think this is the best one to know about credit cards
Answered by sam k - Sun Sep 30 09:28:03 2007