if i was to get a credit card is there a certain time that i have to have it?

Question

i kinda want to get a credit card. but i dont know if i have to have it for a certain amount of time. like if i get one with no interest for a year can i cancel it before the year is up

Answer 1

You are not required to maintain a credit account for any period of time. However, if you do open a revolving account, it is best to maintain it for a minimum of three years. If you can keep it in good standing for that period of time, credit grantors are more likely to offer you better credit card rates. This is true with any line of credit really. The longer you can keep it open and in good standing, the better it looks on your credit report.

Answer 2

You can apply for a 0% APR credit card-- then cancel it whenever you choose. But your best option would be to get a card with a 0% APR-- and after you pay it off-- keep the account open to have some available credit showing up on your credit report. You can find a complete list of 0% APR credit cards here:

http://www.asapcreditcard.com/0-apr.html

Make small purchases from time to time-- and carry a small balance. Then keep making regular, on-time payments to help increase and maintain a high credit score.

Hope this helps. GOOD LUCK!