Linked Questions

21
votes
4answers
7k views

How to recover from credit score hit from paying off loan?

My credit score recently took a dip after I paid off my student loans recently. When I look at the credit report via mint it shows a "not bad" rating for number of accounts opened. ("not bad" is the ...
6
votes
4answers
3k views

Automatic transaction on credit card to stay active

I have 4 credit cards. I use 3 of them frequently for individual purposes as they offer different cash back for different things. However there is one that I rarely use. Is there a way to set up ...
20
votes
3answers
2k views

Should I keep a credit card open to maintain my credit score?

I have a credit card that was opened when I first got out of college, and was my first credit card. Since then, I have switched to cards with rewards, figuring that since I pay it in full each month, ...
12
votes
3answers
2k views

Does having multiple credit cards contribute to “credit mix”?

Right now, the only credit account I have is one credit card, which I've had for about two years. If you don't count as debt the couple hundred dollars I put on that card and pay off in full each ...
9
votes
3answers
422 views

Should I cancel my first of five cards, which has a $300 limit?

I currently have five credit cards, four of which total $11,500 in credit, the other is a $300 line. I'm a recent graduate not making tons of money, so I don't spend more than $6k per year on things ...
2
votes
2answers
177 views

Does closing accounts lower one's credit score?

Does closing accounts lower or increase one's credit score, or does it depend?
1
vote
2answers
546 views

Worth canceling an old Amex Charge Card Account?

I'm looking for a bit of advice as whether or not it is worth canceling my Amex Charge Card. Currently, I am using an Amex Gold Card as my one and only card. I have had a Charge Card account with Amex ...
1
vote
2answers
835 views

Impact of downgrading a credit card on credit history (specifically avg age of account)?

Does downgrading a credit card, from a premium card that has an associated annual fee to one without an annual fee with the same bank, impact the credit history? Assume that the credit line remains ...
1
vote
2answers
256 views

Closing a credit card with no debt to avoid annual fee

I have a credit card through my bank (in the US), which I've had for several years. I spent the last year outside of the US, so I got a second credit card from my bank - one with an annual fee (waived ...
0
votes
2answers
261 views

Switching Banks, Switch Credit Cards, too?

I'm moving to a Credit Union from my long-term bank. I have two credit cards already with the bank, and one card has a balance on it. I would prefer to consolidate and cut myself completely off from ...
9
votes
1answer
1k views

If Sears is canceling my account that hasn't been used in years, will it hurt my credit score?

I have a Sears credit card that I haven't used in 14 years. They have recently contacted me and told me that if I don't make a purchase by Nov. 30, that they will cancel my credit card. If they (not ...
2
votes
1answer
286 views

Should I make small monthly purchases on ALL six of my credit cards and then pay off in full each month?

I am trying to rebuild my credit. I know it’s critical to establish a history of responsible credit usage. I’ve been diligently making small purchases on two of my three major credit cards every month,...
1
vote
1answer
75 views

Credit card accounts and credit score [duplicate]

I m relatively a new resident in the US. I opened an account with BofA (oct/2016) and after struggles they approved me for their student secured credit card account (700$). After 4 months I applied ...
0
votes
1answer
162 views

Best Buy bait-and-switched me into applying for a credit card, how and when should I cancel it?

I'm buying a new $3,000 fridge from Best Buy and during the check-out, I was offered the opportunity to apply for a store card in exchange for a 10% discount "on first day of purchases". I ...
0
votes
1answer
92 views

How will “Final” closing down affect my credit score? [duplicate]

I recently opened up a new credit card with a company called "Final". That company has decided to close down (they did not go into details on why). In response to this, I have 2 questions: 1) How ...

15 30 50 per page