Credit Card Perks

Tomahawk · February 13, 2009, 01:51:01 PM

The credit rating bureaus like to see you have available credit - the more the better. Keeping your card maxed out hurts, but having no balance should help, especially if you use it and pay off the balance every month

phattymatty · February 13, 2009, 01:59:59 PM

i realize that, but i'm saying if you open a card but never use it and keep the balance at zero, i think that's bad.

Tomahawk · February 13, 2009, 02:22:39 PM

The rating takes a little hit for the application for the new card, but the increase in available credit should more than make up for it

Father Demon · February 13, 2009, 02:30:22 PM

I think Thawk is right on this - one of the factors is debt to available credit ratio, so an open card pads the available part of that.

reese125 · February 13, 2009, 02:50:55 PM

Quote from: phattymatty on February 13, 2009, 01:59:59 PM
i realize that, but i'm saying if you open a card but never use it and keep the balance at zero, i think that's bad.

while its good to use your available credit and show that you can pay it off, bottom line is youre establishing credit

cancelling might hurt though because it upsets your credit-utilization ratio. 5 other categories involved that make up a good score is amount owed, new credit, length of credit history, types of credit, and payment history..thats it

just pay the card off and your FICO score jumps over time. You dont get penalized for being responsible

rjs246 · February 13, 2009, 02:52:59 PM

I changed my mind. This conversation is absolutely fascinating.

Diomedes · February 13, 2009, 02:53:40 PM

this discussion is proof positive that the system is farged.

it should be clear and simple what you have to do or not do to establish credit. exactly what is affecting your credit rating should be spelled out.

if you people don't know what is good or bad for your credit, just imagine how little the rest of the idiots in this country understand it

reese125 · February 13, 2009, 02:57:17 PM

Quote from: rjs246 on February 13, 2009, 02:52:59 PM
I changed my mind. This conversation is absolutely fascinating.

Yo lippy--nobody says a damn word to you when you spew out 6 paragraphs of a review a 1950's Western movie or talk about your new Barack Obama car seat covers...shut it

Diomedes · February 13, 2009, 02:58:24 PM

don't those come standard in a Prius?

reese125 · February 13, 2009, 03:04:28 PM

yep and pack of double D batteries just in case he breaks down

rjs246 · February 13, 2009, 03:11:24 PM

Quote from: reese125 on February 13, 2009, 02:57:17 PM
Quote from: rjs246 on February 13, 2009, 02:52:59 PM
I changed my mind. This conversation is absolutely fascinating.

Yo lippy--nobody says a damn word to you when you spew out 6 paragraphs of a review a 1950's Western movie or talk about your new Barack Obama car seat covers...shut it

Aw did I hurt your feelings? I'm terribly sorry. Please continue having this fascinating conversation about things that anyone can google to learn about.

reese125 · February 13, 2009, 03:18:49 PM

hurt my feelings..ha.

youre just annoying that any conversation that doesnt involve your political or cinematic insight bores you to death and you feel the need to tell us 18 times a day..thats all

rjs246 · February 13, 2009, 03:19:52 PM

Quote from: reese125 on February 13, 2009, 03:18:49 PM
hurt my feelings..ha.

youre just annoying that any conversation that doesnt involve your political or cinematic insight bores you to death and you feel the need to tell us 18 times a day..thats all

You know me so well it's scary. Almost as scary as your atrocious butchering of the english language.

BigEd76 · February 13, 2009, 04:55:12 PM

Quote from: Diomedes on February 13, 2009, 02:53:40 PM
this discussion is proof positive that the system is farged.

if you people don't know what is good or bad for your credit, just imagine how little the rest of the idiots in this country understand it

AnnualCreditReport.com offers a free credit report, while FreeCreditReport.com signs you up for an annual service. Mindblowing!