I have never exceeded $85 on it. I use this one the least of all 3 cards, & I only use it to show actvity. I am about t o close the account, but I am just curious about how much I should spend on it.
2006-10-12 05:01:02 · 12 answers · asked by Anonymous in Business & Finance ➔ Credit
Why close the acct? Are you aware that your credit score is based upon how OLD the accts are? So, if this is your oldest CC acct and you close it, it will disappear off your record, and your score will be based upon the age of your other accts!
Do yourself a favor - close the youngest acct with the highest interest that you have, and keep the oldest (no matter what the interest rate - if it is high, simply dont use that card!). And dont spend more than you can pay back! Credit is a killer!!!
2006-10-12 05:10:10 · answer #1 · answered by YDoncha_Blowme 6 · 1⤊ 0⤋
Never spend more than what you can pay off at the
end of the month. Be very careful with credit cards.
Some companies will charge interest even after you
pay off the charges. The safest card to have is a debit card. These cards will allow you to charge only the amount you put on the card. Close all other accounts and cut up the cards. Get only a debit card. For information on credit card scams
go to www.consumeraffairs.com The more information
you have the better your life will be.
2006-10-12 12:21:15 · answer #2 · answered by Precious Gem 7 · 0⤊ 0⤋
DO NOT CLOSE YOUR ACCOUNT!!!! I just learned a whole bunch about credit!
It's okay to have 3 - 4 cards. You get a better credit score if you keep them on the lower end rather than maxed out. You don't have to use them, you can keep them at 0 and still build credit.
Now, if you go and close your account, you will just erase your credit history with that card and it will be like you never had it!
If it doesn't cost you anything to keep the card when you owe nothing on it, keep it as long as you possibly can, the credit bureau will look at that as, dang this person had these cards and had the will power not to max them all out all the time and your score will go up!
2006-10-12 12:12:03 · answer #3 · answered by someoneoutthere 5 · 0⤊ 0⤋
unless there is monthly or annual fees, there is no reason for you to close the card. By keeping the card open you will be building established credit and that is important to your credit history. the max you should spend is the max you can pay. don't get to close to $300 because they can add interest and you don't want that to make you go over the limit.
2006-10-12 13:02:49 · answer #4 · answered by bella_4624_19 4 · 0⤊ 0⤋
Spending should be based on your income after expenses, not the limit of a credit card. Your monthly budget is the tool you need.
If you're responsible, you'll get cards that have limits over 10K and you should not spend that much just because you can. Credit Card companies make a ton of money on interest and late fees so they're trying to set you up to pay those fees; watch yourself!
"Caveat Emptor"
2006-10-12 12:04:41 · answer #5 · answered by n0witrytobeamused 6 · 1⤊ 0⤋
Only spend what you can afford to pay off each month. As soon as you reach your $300 limit, the CC company will raise your limit creating a lovely little trap.
Unless you need something on an emergency basis - don't use the credit card......it'll get ya!!
2006-10-12 12:58:07 · answer #6 · answered by chris 5 · 0⤊ 0⤋
Whatever you can afford to pay off quickly.
The other thing to consider is - if you've had this card a while (like longer than a couple of years) do not close it. Part of the factor of your credit score is having long-term relationships with the same banks. (That's why I still have my Sears card open - it was the first card I ever got when I was 21 and I don't even use it anymore.)
2006-10-12 15:52:32 · answer #7 · answered by zippythejessi 7 · 0⤊ 0⤋
If you got a limit of $300 spend only up to the limit you set for yourself, but the max limit should be $100. That's so you don't pay late and you can maintain good credit. I have 4 and only use the one I got to rebuild my credit and I am getting rid of it after the final payment.
2006-10-12 12:04:55 · answer #8 · answered by nabdullah2001 5 · 1⤊ 1⤋
your history on a card is not "erased" if you close the account. when you got the card, what the max limit was, mo. pmt., etc. are still all there on your credit bureau. if you already have 3 cards then it won't negatively affect your credit score to close this one. it actually should improve it since your available revolving balance will decrease. your payment history is the #1 determiner of your credit score. close accounts you aren't using.
2006-10-12 12:22:58 · answer #9 · answered by cks4131 1 · 0⤊ 0⤋
Just a little amount each month and pay it off completely each month for awhilie and they will raise you limit because you'll be such a good customer---they you can "really" stick it to em! Have fun--that's the most important think when screwing a credit card company.
2006-10-12 12:51:54 · answer #10 · answered by EMAILSKIP 6 · 1⤊ 0⤋