I was over my credit limit the very first month i got it. Now i have already paid all my balances.But i am worried i had a very bad starting.So i want to cancel it if it's best idea to get away with it.What can i do to clean up this mess.
2007-10-26 17:36:10 · 8 answers · asked by Anonymous in Business & Finance ➔ Credit
you should cancel it, it seems you have problems living within the limit
2007-10-26 17:39:04 · answer #1 · answered by Negligence 3 · 1⤊ 1⤋
Having a credit card doesn't mean you have to use it. You did show very poor money management or math skills to exceed your limit but at least you paid it off now. I would put the card away and not use it at all for a few months then use it no more than once a month or every few months for no more than a tank of gas. Credit isn't free money but feels that way to some who just get started having credit.
2007-10-26 18:31:42 · answer #2 · answered by shipwreck 7 · 0⤊ 0⤋
No, don't cancel the card. Having a credit card is a good way to establish credit. Just be more careful not to go over your limit. Pay your bill entirely each month so you don't pay a finance charge.
2007-10-26 17:42:45 · answer #3 · answered by Jeff 4 · 3⤊ 0⤋
Just don't go over your credit limit again! Keep the card and learn to manage money and credit wisely. Go to the website below and read it all. This is a great site about credit repair amd it shows you how to avoid bad credit in the first place and how to fix what you do have!
I got my credit score from 480 to 709 in one year with the help I got from this site! Read all of it and use your credit card wisely.
2007-10-26 19:22:51 · answer #4 · answered by Anonymous · 0⤊ 0⤋
If you keep the credit card and *don't max out again* (that's really really important!) - then it will be good for your credit. If you're worried that you'll continue bad spending habits, it's probably best to get rid of it for now. If you're paid off though, you don't need to cancel it - just cut it up and stop using it.
2007-10-26 18:21:26 · answer #5 · answered by Heidi 7 · 0⤊ 0⤋
You could cancel it, but if you could keep the balance under 10% of your credit limit it would help your credit. Maybe you could put away or in the freezer to limit impulse buying. In any case, it would help to keep it if you can keep the balance down. If not, then canceling it is better than keeping it close to the limit.
2007-10-26 17:48:20 · answer #6 · answered by highflyer 2 · 1⤊ 0⤋
well, ask them if they would raise your credit limit.
If they want your business they will accommodate you the best they can, depending on your credit scores, etc. The fact that you paid it off speaks very well for your financial responsibility and I don't see how they could hold it against you. It was a new account and they maybe didn't communicate your credit limit to you very well.
2007-10-26 17:45:14 · answer #7 · answered by map_n_az 2 · 1⤊ 2⤋
keep it and try ti stay within the limit! If you have problems again, maybe you should consider cancelling
2007-10-27 12:59:55 · answer #8 · answered by Anonymous · 0⤊ 0⤋