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Another question...should I go ahead and cancel both of these cards immediately? Will that have any adverse effect on my credit rating?
"He woke up because I kept punching him in the face." --Thiago Alves
"I'm telling you, once your car's been stolen, it never runs the same again. It's like a guy sleeping with your girl. He leaves his mark all over her."- Drama (Entourage)
it shouldnt....your not going to want to cancel all of them...and you want to carry a balance here or there...after all, no credit out there, what can they score you on? how many cards do you have that your going to pay off? how many do you have that are staying open? how many open auto loans? any other, like boats, atv's or other installment type of loans....the only thing i'd watch out for is driving yourself to shallow wiht no open trade lines
HE WHO MAKES A BEAST OF HIMSELF, GET'S RID OF THE PAIN OF BEING A MAN!!
it shouldnt....your not going to want to cancel all of them...and you want to carry a balance here or there...after all, no credit out there, what can they score you on? how many cards do you have that your going to pay off? how many do you have that are staying open? how many open auto loans? any other, like boats, atv's or other installment type of loans....the only thing i'd watch out for is driving yourself to shallow wiht no open trade lines
I still have one that I have had for years and years (it's my next one to pay off)....I'll probably never get rid of it. I don't really have a lot of cards. I might have a Best buy card other than the ones I have mentioned. The 2 I paid off were purchases that I had made on like a 18 month no interest and 18 month low interest. We have one car loan.
I would actually like to get a full credit report and just see what all is being listed on it. I'm sure there is crap on there that shouldn't be. What is the best way to get a report? I have a friend at the bank. Would it be best to ask him to run it so I will know exactly what a bank would be looking at?
"He woke up because I kept punching him in the face." --Thiago Alves
"I'm telling you, once your car's been stolen, it never runs the same again. It's like a guy sleeping with your girl. He leaves his mark all over her."- Drama (Entourage)
you could ask him...why would you be SURE there's stuff on it that shouldnt be? thats NOT normal...so you have 1 car, 3 credit cards a best buy card and a home? thats it?? lol...you want to try to carry 4 trade lines....4 well paid trade lines on various credit, without being maxed, will give you your best credit score and best intrest rates in the future.
ask your buddy for a credit report...if he can get you one and you cant understand it, let me know and i can try to walk you through it. it would be great if he could pull trans union, equifax and experian...that way you cross referance them all and see whats what.
HE WHO MAKES A BEAST OF HIMSELF, GET'S RID OF THE PAIN OF BEING A MAN!!
you could ask him...why would you be SURE there's stuff on it that shouldnt be? thats NOT normal...so you have 1 car, 3 credit cards a best buy card and a home? thats it?? lol...you want to try to carry 4 trade lines....4 well paid trade lines on various credit, without being maxed, will give you your best credit score and best intrest rates in the future.
ask your buddy for a credit report...if he can get you one and you cant understand it, let me know and i can try to walk you through it. it would be great if he could pull trans union, equifax and experian...that way you cross referance them all and see whats what.
"Sure" was a bad choice of words. There shouldn't be anything on it. I have just heard stories about accounts being closed but they never get reported and they just stay on there. My credit should be squeaky clean to be honest, but I would like to see what's on it just to check.
That's it? Is that lower than normal or something? Just curious. I do have a house with a 2nd mortgage. I have always had good credit and never really had any cards (except the one) up until a few years ago. My last 3 cards that I have acquired were all to take advantage of same as cash or low interest purchases.
"He woke up because I kept punching him in the face." --Thiago Alves
"I'm telling you, once your car's been stolen, it never runs the same again. It's like a guy sleeping with your girl. He leaves his mark all over her."- Drama (Entourage)
"Sure" was a bad choice of words. There shouldn't be anything on it. I have just heard stories about accounts being closed but they never get reported and they just stay on there. My credit should be squeaky clean to be honest, but I would like to see what's on it just to check.
That's it? Is that lower than normal or something? Just curious. I do have a house with a 2nd mortgage. I have always had good credit and never really had any cards (except the one) up until a few years ago. My last 3 cards that I have acquired were all to take advantage of same as cash or low interest purchases.
yea, when you close an account it wont come off your credit for 5 to 7 yrs. it will report as "closed by customer". but in closed status it dont neccessarily help your credit, it just wont hurt it. scores are good to be concerned with, but it needs to be a high score spread over depth....mortgage, 2nd mortgage, auto loan and 1 credit card is awsome!! 4 lines, spread out between installment and revolving and not over extended, your a bankers dream!!! its just if you take it to zero you go from dream to questionmark....you'll be fine wiht your plan
"thats it" was just becouse i know you been working on dropping these cards for a bit and i expected alot more...your talking to a guy that had whatever amount of cards (i really dont remember) and 100k in revolving credit debt, lol...not counting house, 2nd, car, jetski, boat, trailor, lol....so when you said what you had i was like...huh, lol...thats awsome bro..
its funny....i KNOW what to do and what not to do....i just didnt follow it myself, lol...
HE WHO MAKES A BEAST OF HIMSELF, GET'S RID OF THE PAIN OF BEING A MAN!!
i wouldn't have your buddy at the bank pull your report. Just get an account like freecredit report I actually use this and it's a nice service only a few bucks a month and you can pull one report as much as you want the other 2 cost a little more every time you pull them. The benefit is if you have you buddy pull your reports it's going to be an inquiry where if you pull them it's not. PLus you get alerts every ime something changes and stuff like that
I have heard that the FreeCredit report thing is not "free" and I don't really want to pay anything. I thought you could only pull a report 1 or 2 times per year before it started hitting as an inquiry?
I would like to get a report that showed all 3 scores too. I don't mind getting it myself, but I don't want to pay a monthly fee for it either.
"He woke up because I kept punching him in the face." --Thiago Alves
"I'm telling you, once your car's been stolen, it never runs the same again. It's like a guy sleeping with your girl. He leaves his mark all over her."- Drama (Entourage)
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