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bluestateguy (1000+ posts) Send PM | Profile | Ignore | Thu Jun-07-07 03:05 PM Original message |
Does it damage your credit rating to cancel a credit card? |
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NMDemDist2 (1000+ posts) Send PM | Profile | Ignore | Thu Jun-07-07 03:06 PM Response to Original message |
1. no, it actually hurts more to have a high amount of available credit |
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DrDan (1000+ posts) Send PM | Profile | Ignore | Thu Jun-07-07 03:07 PM Response to Original message |
2. I believe just the opposite |
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mainegreen (1000+ posts) Send PM | Profile | Ignore | Thu Jun-07-07 03:18 PM Response to Original message |
3. Depends on how many cards you have, the limit on each, and how close in time they're cancelled. |
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caty (1000+ posts) Send PM | Profile | Ignore | Thu Jun-07-07 03:40 PM Response to Original message |
4. When you cancel |
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pagerbear (1000+ posts) Send PM | Profile | Ignore | Thu Jun-07-07 03:50 PM Response to Reply #4 |
6. I don't think that's right |
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lizerdbits (1000+ posts) Send PM | Profile | Ignore | Thu Jun-07-07 03:56 PM Response to Reply #6 |
7. I've seen that too |
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Omphaloskepsis (1000+ posts) Send PM | Profile | Ignore | Thu Jun-07-07 03:48 PM Response to Original message |
5. I don't know the answer to your question. |
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MistressOverdone (1000+ posts) Send PM | Profile | Ignore | Thu Jun-07-07 03:57 PM Response to Original message |
8. No, but it looks good if you have it and keep a 0 balance |
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LSK (1000+ posts) Send PM | Profile | Ignore | Thu Jun-07-07 04:01 PM Response to Original message |
9. yes |
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Lex (1000+ posts) Send PM | Profile | Ignore | Thu Jun-07-07 04:03 PM Response to Original message |
10. Make sure they note it as "customer cancelled" and not |
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Scout (1000+ posts) Send PM | Profile | Ignore | Thu Jun-07-07 07:58 PM Response to Original message |
11. cancel the one with the highest interest rate, annual fee... |
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Connonym (1000+ posts) Send PM | Profile | Ignore | Thu Jun-07-07 09:09 PM Response to Reply #11 |
12. plus making regular monthly payments increases your credit score |
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DU AdBot (1000+ posts) | Wed Jun 05th 2024, 12:51 AM Response to Original message |
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