I have two credit cards. One is a CapitalOne card with a 0 credit limit. I was recently talked in to getting a new credit card with WellsFargo with a 00 credit limit. I don’t feel safe having that amount anymore. I want to pay it all off and close it. I’ve had it for about a year. I’ve had the other one for about five years. Is that really bad for my credit score?
I need a new car and have always figured paying cash was best. I have limited credit history that I messed up in college, so my score is 520-550. I was looking at a few used cars but figure a newer used car would be more reliable and need less maintenance. What effect will paying the loan on time have for me? How long before any benefits kick in? Will it improve my score more because most of my credit now is very small credit cards and this will be a big auto loan?
I know making payments is kind of a waste, but I have the income to pay more, so I’m just focused on what, if any, FICO score improvement I can get.
I have applied for several credit cards. I have a credit card for jcpenny, american eagle and macys. all of these cards were approved.
i also applied for a victoria secret, express and abercrombie credit card, but all of them were rejected. my question is:
does this affect my credit in any way? by applying for a lot of credit cards & then not having them approved, ruin my credit?
for my three credit cards which i have already, i always make payments on time.
please help meeeee.
I am a trader of textiles,maintaining a good balance in my savings account and have a good credit history of more than one year. I am going to apply for a lot of credit cards as well as personal loans. What general precautions should be taken so that I may be able to get maximum number of credit cards and loans with good credit limits?
I have 5 credit cards with different limits and rates.I’m in the process of paying them all off, however I know you need to have balances on your cards for healthy credit. How many cards should have a balance and how many should be unused?
@Stephen, if i have no balances, then what’s the point of having credit cards to begin with? How else will I build credit history?
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