I am 20, I have a Visa and Amex which I use for everyday things.I have a store credit card (express) which has been open for about 2 years and I have only used it twice. Should I close it. Yesterday I applied for a Macy's card and got it for 1 purchase. How long should I keep it, if I barely use it? Does it mess up my credit to have credit cards I dont really use?
2007-02-26 00:57:27 · 6 answers · asked by Cindy 3 in Business & Finance ➔ Credit
actually, as long as you are responsible and don;t run up balances on the cards, it's good to keep them. use them very occasionally and pay them off. having the cards and the unused credit limits on them lowers your total debt ratio, example: you have four cards with a total credit limit of 10,000 and only have 2000 in balances, as opposed to closing those two seldom used accounts and having two cards with a total credit limit of 5000 and 2000 in balances. the higher credit limits and lower debt to limit ratio will actually help your credit score as it shows responsible spending behavior.
2007-02-26 01:15:15 · answer #1 · answered by northcountry57 3 · 0⤊ 0⤋
It doesn't mess up your credit to have cards you rarely use. However, some companies will charge you a fee if you don't use their cards within a set amount of time, usually a year, sometimes a couple months. Just get rid of the cards you don't absolutly use (you can always apply again if the mood strikes) and get one really really good card that you can get rewards and goodies with.
2007-02-26 01:14:48 · answer #2 · answered by blackmagicrose13 2 · 0⤊ 0⤋
No shifting money on your Capital One card won't assist you to easily yet. you in basic terms ought to pay as much as you likely can in direction of your financial enterprise of us of a of america card each and each month and don't use it in any respect. Clip coupons, downgrade your cable or cellular telephone kit, consume mac and cheese a pair nights each and every week. you would be shocked how lots extra money you will could positioned in direction of your credit card bill. it extremely is the suited thank you to pay it down. with reference to the Avon account. it's time to communicate on your mom. tell her you like her to pay that off NOW it hurting your credit notably in the event that they're calling you b/c she is late paying. you additionally can call Avon and notice in case you'll be taken off the account you'll be able to need your mom's permission to try this yet once you're you able to could and quickly.
2016-11-26 00:00:26 · answer #3 · answered by rasavong 4 · 0⤊ 0⤋
It doesn't mess it up, it is good to use them every so often, don't charge too much where you can't pay it back, but keep them, you don't have that many to say you are going to mess up your credit, closing them won't be good, keep it for good.
2007-02-26 01:46:18 · answer #4 · answered by Nattiedred 3 · 0⤊ 0⤋
visa is the best
2007-02-26 01:03:12 · answer #5 · answered by sudi p 2 · 0⤊ 0⤋
Yes. Lose it
2007-02-26 01:02:26 · answer #6 · answered by Unknown 2 · 0⤊ 0⤋