Friday, September 3rd, 2010 at
12:10 AM
I am being sued by a collection agency for an old (over 3 years) Visa credit card debt. I live in Alabama and the Statue of Limitations on Open Accounts is 3 years. I hired an attorney but he says that I probably will have to settle because it is not an open account but a written contract account which has a SOL of 6 years. He says this because the collection agency produced a piece of paper that I signed when I opened the account (basically it’s the credit card application). I researched on my own and most information that I found says that credit cards are always open accounts. I did find one place (Wiki Answers) where someone said that credit cards could be written contracts. Is my attorney wrong or can this indeed be a written contract in some way. I really need to know before I go to court. Please give me some type of solid backup to your answer and not just your opinion.
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Sunday, August 29th, 2010 at
9:51 PM
Its very difficult obtaining a good fair credit card with high amounts on them. I currently only have a 300 limit. Will a secure credit card help to increase the credit score? Any advice. I’m also not sure if I should pay off the credit cards that expire within the next couple of years from the credit report.
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Thursday, August 26th, 2010 at
4:59 PM
I am an authorized user on 3 major credit cards. I have one individual department store account and one individual student loan account. Should I remove myself as authorized user from 2 of the most recent accounts and get a major credit card individual account? Would that help/hurt my credit?
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Wednesday, August 25th, 2010 at
5:00 PM
I have 2 credit cards and they’re not even that much. I’ve been paying every month to reduce the balance but after interest charges, it seems to go straight back up. I recently checked my credit score, and it’s in pretty OK shape. I know if I get another credit card, my credit limit will be enough to cover for both debts. My plan is to just get a new credit card with no interest for one year and pay them off then cancel my other 2 credit cards.
Is that a safe idea? Will it affect my credit score (negatively) that much to do so?
Thanks.
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Monday, August 23rd, 2010 at
9:48 PM
I just turned 18 and I am trying to get my own place but they said I need to have good credit. To have good credit, they said I have to build good credit, but the only way to build good credit is to have good credit. Why is that? I was looking at credit cards and purchases become way more expensive when you buy them a credit card. So why use one? But to build credit you need to use one. Am I mistaken? Could someone explain how a credit card works please?
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