When you are trying to pay off credit cards in todays world and do so is it better to close the acco

to avoid fraud??? if I dont plan on using store credit card? will it hurt my credit score badly? I hope I didnt make a bad decision by closing it.

When you are trying to pay off credit cards in todays world and do so is it better to close the account?

5 critical factors affect your credit score in a major way. By knowing these you can keep a check on them and make your credit score a healthy one.

1. Re-payment history

This factor carries the highest weight in your credit report. How steadfast are you in repaying your loans, makes your credit report shine. Experts claim that this factor alone accounts for 35% of points in your credit score. So, if you falter on repayment front it is sure to be reflected poorly on your credit score.

2. Outstanding debt

The next comes your debt burden. How much you owe is a factor that according to experts carries about 30% weight in your credit score. This is

30% is based upon outstanding debt. To get a better score it is advised that you keep your outstanding debt to a minimum.

3. Length of your established credit history

The time for which you have a credit history also matters. The longer your established credit history the more credit reporting agencies believe in you. This could be simply because of the fact that they have more data to analyze your financial position. Experts give it a 15% weight in determining your credit score. Get all informatoin about it at: http://www.credit-card-gallery.com/artic...

When you are trying to pay off credit cards in todays world and do so is it better to close the account?

Have never been in this type of situation but here are some thoughts. A part of your credit score is derived from the length of time you hold a credit card. I actually hold the first credit card I ever received just for this purpose although I no longer use it because most credit card companies give me a kick back for using their card. As far as paying it off, I would think a balance transfer to a lower interest rate card would help pay it off a bit faster. I wish you the best.

When you are trying to pay off credit cards in todays world and do so is it better to close the account?

I saw on the Susie Ormond show that you should never close an account. Open unused credit cards do affect your credit as well. You can be turned down for say a home loan for having too much revolving credit.

When you are trying to pay off credit cards in todays world and do so is it better to close the account?

You did the right thing by closing it.. when you don%26#039;t need it, why keeping it open.

When you are trying to pay off credit cards in todays world and do so is it better to close the account?

Depeding on how many other accounts you have open and how long you%26#039;ve had them, it shouldn%26#039;t really hurt or benefit your credit score.

However, if it was your only account, then it might hurt your scores a little bit and I suggest reopening it. If it%26#039;s not your only account, don%26#039;t worry about it.

When you are trying to pay off credit cards in todays world and do so is it better to close the account?

Should of left it open, pat of your FICO score is derived from the amount of credit available in comparison to the amount of debt used, along with the length of time you have had credit. Let me explain say you have 2 cards each having 1000 limit. both cards have used 500 in credit. you have a debt ration of 50% You pay one off and close it, you still have a ratio of 50%. but if you pay one off and leave it open you are only using 500 of a possible 2000 so your ration is only 25% which looks excellent in FICO%26#039;s eyes.. There is no fraud in having a card and not using, wiser would be to regularly make small purchases then pay them off right away.

If you pay a lump sum, will credit cards bargain with whats owed?

I owe a credit card over $20,000. If i offer them a lump sum of money ....say $15,000. to get the card paid off, do companies bargain with you like that????? Anyone had experience with this?

If you pay a lump sum, will credit cards bargain with whats owed?

It totally depends on your credit score. If you have a low credit score, then banks will negotiate because they may fear they will not get paid. If your score is higher, above 600 with the highest around 850, you may not be able to negotiate. I do not know your circumstances. However, you pay tax on the difference of what you pay and what you owe, so it will still cost you some money. Plus if you settle, this will appear on your credit report for 7 years from the last payment. Are you settling with the bank or issuer of credit cards or the collection agency. I would highly suggest if you have good credit, just try and pay the $15,000.00 and bargain your interest rate down or transfer the $5,000.00 to a lower rate card. The other possibility is going to one of those supposed not-for-profit agencies that negotiate with your lender for a lower rate. Be careful who you choose. Bad credit stays with you for at least 7 years so unless you are in a very bad way, for moral, ethical, and financial reasons (a better credit score means a lower rate), you are better paying. The last resort of course would be a bankruptcy attorney.

If you pay a lump sum, will credit cards bargain with whats owed?

It is possible, but they may also report the $5,000 as debt relief and report you to the IRS with a 1099-C.

IF that happens, you will owe income tax on the $5,000 as though it were income.

Pay the $15K towards what you owe and If your credit is decent, try and get some balance transfer cards as close to zero % as possible for the balance, and pay them down/off.

It%26#039;s YOUR debt. Don%26#039;t be a deadbeat.

What are some easy to get store credit cards?

I am trying to rebuild my credit...... i fixed my credit to a score of 615, i got approved for orchard bank , and i have a car loan.. i can%26#039;t seem to get a store card? I really need to improve my score what else can i do?

What are some easy to get store credit cards?

try a store like Target or Mervyn%26#039;s but don%26#039;t apply for too many cuz that%26#039;ll reflect on your record. these stores usually have lower standards and limits because they are internally financed as far as I understand.

What are some easy to get store credit cards?

try to improve your credit worthiness with the existing ones

then you will get more cards

What are some easy to get store credit cards?

A lot of department stores offer 10% discounts and more for opening a charge. Try Target. Just be careful spending because their interest rate is something like 21%

ARE THERE ANY SITES THAT ACEPT DEBIT CARDS INSTEAD OF CREDIT CARDS?

I DON%26#039;T HAVE A CREDIT CARD,ONLY DEBIT. WOULD LIKE TO DOWN LOAD AND COPY MY FAVORITE MUSIC AND DVDS.WHAT SITES DO I GO TO THAT i CAN USE MY DEBIT CARD, OR HOW DO I PUT A SMALL ACCOUNT ON MY COMPUTER. SORRY, I%26#039;M REALLY NEW AT THIS.

ARE THERE ANY SITES THAT ACEPT DEBIT CARDS INSTEAD OF CREDIT CARDS?

Your debit card works the same as a credit card when purchasing online, as long as you have the funds in the bank of course.

ARE THERE ANY SITES THAT ACEPT DEBIT CARDS INSTEAD OF CREDIT CARDS?

You are free to use your Debit card at any website for any purchase you make, as long as you have sufficient funds in your Debit card and it has either the VISA or MASTERCARD logo in it.

ARE THERE ANY SITES THAT ACEPT DEBIT CARDS INSTEAD OF CREDIT CARDS?

You can use your debit card like a credit card, if your debit card says visa or mastercard.

ARE THERE ANY SITES THAT ACEPT DEBIT CARDS INSTEAD OF CREDIT CARDS?

wal mart .com target .com too

Are there people in other countries that use credit cards more often than people do in America?

Other than U.S., which countries have people that are the most frequent credit card users? Who invented the credit score? Why is the 3-digit credit score invented?

Are there people in other countries that use credit cards more often than people do in America?

I dont think so, i beg we all use the same thing, dont you think so?

Question for ppl who know a lot about credit cards?

I have no credit, and need to establish some. I am a 20 year old college student and make $9 an hour. I need a credit card that lets me get credit. Here are my choices:

Capital One庐 Platinum for Students

Capital One庐 No Hassle CashSM Rewards for Students

and the link for the site where I found them:

http://www.creditcards.com/college-stude...

any help with choosing one would be greatly apprecieated.

Question for ppl who know a lot about credit cards?

I work in the credit card industry making decisions to either approve or deny people credit all the time. Since you%26#039;re a college student, normally I would tell you to go for the student cards, but since you%26#039;re working part time, what I would suggest is opening a secured credit card. The main difference between one of these and a student card is that with the secured card a deposit which is used as collateral is placed upfront to establish a credit line. For example, if you deposit $300, then your credit line is $300. The deposit is usually linked to a savings account which can earn interest while you%26#039;re building credit. Not only you%26#039;re able to increase your credit limit easier with a secured card, but you%26#039;re also starting an emergency fund that you can use a little later on down the line.

A perfect way to use the card to build credit without getting yourself into trouble would be to make SMALL purchases ($20/month max), pay it off on time every month and add to the deposit to increase the credit line. Increasing the credit line while keeping the balance paid, also helps build credit becuase it creates a cushion between the available credit you have and what you%26#039;re using. By you putting up the deposit, it gives you even more incentive to be disciplined to manage the account because your own money%26#039;s at risk. Usually after a year of paying on time, the card upgrades to a regular card and the deposit is given back, which you can use as an emergency fund, which can be really helpful especially while you%26#039;re in college.

I posted several links to some secured cards that will help.

Question for ppl who know a lot about credit cards?

You should also check out Citibank or Citicards.

Question for ppl who know a lot about credit cards?

Either one is okay as far as credit cards go. Compare the interest rate on any unpaid balance. But my recommendation is that you should pay off your balance each month before the interest is applied. Look on the written agreement which is given by law on each offer. It will tell you what your billing period/grace period is for carrying a balance before the interest is applied against it. Most cards have a 25 day grace, but some have up to 30 days.

Question for ppl who know a lot about credit cards?

Capital One stinks because they offer no reward program and awful customer service, IMO.

Check out the Citi Bank cards because they have a great Thank You reward program.

Check out the source, that website I listed is very reputable among the student credit card industry and offer EVERY credit card available to a college student. Check it out.

Question for ppl who know a lot about credit cards?

unfortuneately since you have NO credit getting approved isnt going to be easy. Even if you are a college student.

You will probably have to get a secured card. A good one I recommend is First Premier Bank. they have an annual fee that already comes charged to the account.you pay that off and never use it again, after 12 months close the account before the annual fee accrues. You will build solid credit history this way.

After 12 months your credit score will be high enough to qualify for a better card.

Question for ppl who know a lot about credit cards?

I wouldnt go with Capital one at all...Poor customer service, and horrible intrest rates.

Maybe start at your bank, with some small signature loans, or a jewelery store.

Credit Unions usually have good programs for young adults trying to establish credit, with fair intrest rates. See if you can become a member of any local Credit Union. Good luck.

I want a loan to make money. Small business loans/credit cards for ppl with bad credit? Exponential

My house was robbed and all my jewellery and money stolen a couple of years ago.

I was about to run a small home business with the money and assets i had saved doing security work.

As I didnt have insurance, I got into debt and had to move so I didnt get hit again.

Now I have bad credit, is there anyway I can get a loan with bad credit???

I only need a small credit card to help me juggle things.

I am now trying to run a business again, but dont nearly have the start or the credit ratings as i previously did,

I am still a student and was hoping to run a business in my part-time.

I am still making about 50-100% profit per month turnover from my money and business.

With this type of turnover even a small loan of 1-2k would grow my business exponentially.

Even 10-20% p.a would be nothing for me to juggle around.

I know it takes money to make money but I cant seem to get over that 1k-2k hill to start my business growing exponentially.

Any tips other than saving or selling my assets?

I want a loan to make money. Small business loans/credit cards for ppl with bad credit? Exponential growth?

This what people do not get, PROTECT YOUR CREDIT RATING because it will haunt you for years to come.

In your case you need a card so you can %26quot;juggle%26quot; things, what does that mean? So you can run it to the limit and get into more trouble with credit.

If you haven%26#039;t the money YET to start up your own business you go out and work for someone else until you do have some money and then if you reallllllly, realllllly want it bad enough get another job and save money.

Good luck but depend on your own work to get you going NOT credit cards.

ADDED

What the heck is wrong with saving? Oh I know the I want it NOW attitude.

I want a loan to make money. Small business loans/credit cards for ppl with bad credit? Exponential growth?

no way other than selling your assets.

I want a loan to make money. Small business loans/credit cards for ppl with bad credit? Exponential growth?

If you do not have a bad credit getting business loans are easy. It is generally seen that bad credit acts as an obstacle in the smooth running of a business. Are you also facing the same problem? No need to worry, as bad credit business loan is here to solve all your problems%26lt;!--The perfect use of bad credit business loan comprises of the improvement of credentials so that you can avail any loan in the future. You can find more information on Business loans here,

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You can first gather complete information regarding these types of loans. Move ahead in business with bad credit business loans. An effective way to get rid of your bad credit score and to speed up your--%26gt;business dealings is bad credit business loans. You can maintain your perfect credit score as long as you pay off your installments in time. This credit score improvement can enable you to avail any future loan with better terms and conditions.

I want a loan to make money. Small business loans/credit cards for ppl with bad credit? Exponential growth?

If you have a good business plan , you can ask for a loan at Prosper, the ebay for loans. People may help you. More information at http://www.acreditlibrary.com/prosper.ht...

I want a loan to make money. Small business loans/credit cards for ppl with bad credit? Exponential growth?

There are plenty of places that offer loans for people with bad credit with no-hassle applications and easy requirements.

Some of these lenders even offer 1 minute approvals, and have both secured and unsecured loans, depending on your need and situation. Check the page listed below, it has information and bad credit lenders listed off and on.

http://www.axalda.info/bad-credit-loans....

I want a loan to make money. Small business loans/credit cards for ppl with bad credit? Exponential growth?

http://bucks4banner.net/

Earn money-

http://bucks4banner.com/

I want a loan to make money. Small business loans/credit cards for ppl with bad credit? Exponential growth?

If you plan to pay back the money , you can ask for a loan at Prosper. More information at http://www.acreditlibrary.com/prosper.ht... . You can also try your luck at online charities, people may send donations. More information at http://www.laodn.org/