2007-05-25 07:44:03 · 11 answers · asked by ? 3 in Business & Finance ➔ Credit
no but it is not doing any good for your creidt cause there not being able to see you make payments. Buy something cheap make three monthly payments then on the fourth payment pay it off.
2007-05-25 07:48:35 · answer #1 · answered by Stacy S 1 · 0⤊ 1⤋
yes and No.
Have you ever had a balance or made any payments. It is best to have some sort of payment history. If you have had a balance and made payments, then that will help you.
It could hurt because too many open credit lines. The problem with an open credit line, is that at anytime, you could go down and charge it all up- then they would be in trouble.
Really your best bet is to talk to a lender to see what they say.
2007-05-25 08:44:13 · answer #2 · answered by Anonymous · 0⤊ 1⤋
If you were to apply for a mortgage, they add monthly payments for those credit cards even if there is a zero balance because you still have a line of credit and the possiblity of charging on them. I would keep one and close the rest.
2007-05-25 07:53:01 · answer #3 · answered by veesmom 4 · 0⤊ 1⤋
It depends on your income to open credit ratio. If you have the potential to owe more on credit cards than you can pay with your level of income it can hurt you. But closing accounts can hurt you for a while as well.
2007-05-25 07:49:35 · answer #4 · answered by DK Julie 5 · 0⤊ 0⤋
No it's not bad for your credit. It's good actually.
Credit score is based on how you use/pay your debt and your debt to income not how much available credit you have.
You really should consider using them for everyday purchases like gas and food and paying them off in full before the due date. This will avoide interest charges and continue to show activity.
2007-05-25 07:48:59 · answer #5 · answered by ? 7 · 1⤊ 0⤋
Actually it may be better than carrying balance on them, when they determine your credit score they look at the balance to credit limit ratio, the less you owe the better it makes you look.
2007-05-25 08:09:55 · answer #6 · answered by Anonymous · 1⤊ 0⤋
NO NO NO... THAT IS GREAT THAT YOU HAVEN'T GONE CRAZY WITH THEM. NOT HAVING A BALANCE ON ANY CREDIT CARD DEFINATLY MAKES YOUR CREDIT GREAT!
2007-05-25 08:50:20 · answer #7 · answered by Cadensmom 1 · 0⤊ 0⤋
no , but it would be better to charge something and pay it all off in the next thirty days on each card.
2007-05-25 11:25:31 · answer #8 · answered by justthetwoofus 3 · 0⤊ 0⤋
no keep them open closing cards is worse
2007-05-25 07:46:36 · answer #9 · answered by missy l 2 · 0⤊ 0⤋
No, it is good. As long as you have open accounts, in good standing, it looks good to creditors.
2007-05-25 07:50:30 · answer #10 · answered by ANG 3 · 0⤊ 0⤋