Is having a lot of credit cards good or bad for your credit score?
Friday, April 24th, 2009|
achyled wants to know: I’ve heard both… my teacher said having a lot of credit cards will lower my score. But I also read that part of your credit score is based on the formula
how much you owe/ total credit , so in that case having more cards would be better. I have [...]
How can I cancel credit cards I have without getting dinged on my FICO score?
Tuesday, April 21st, 2009|
Edward G wants to know: I have several credit cards that have annual membership fees required. But I do not use them and have no plans on using them in the future. I’ve been told that if I cancel these cards that my credit scores will suffer because of the cancellations. Is there a way [...]
My credit card company changed its terms and is asking of I accept the new terms?
Saturday, January 17th, 2009|
Eddie Cacciatore, Private Eye wants to know: This term change is after several years, and it was a reputable credit card company.
If I don’t agree to the new (worse) terms, they will cancel my card, and I’ll have to pay the remaining balance. Would this hurt my credit rating if I don’t accept the new [...]