Should I close my credit cards?
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Thread created 04-04-2012 by nfg1984
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Unless your accounts went to collections, I doubt any bank would close them while you still owe them money (as the previous poster stated). Those delinquencies that you had will remain on your...
Should I close my credit cards?
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Thread created 04-04-2012 by nfg1984
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16 Replies
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Oh well, my life is over then
Nothing but renting in my future....
Should I close my credit cards?
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Thread created 04-04-2012 by nfg1984
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16 Replies
2,532 Views
Credit card issuers have been reducing many people's credit limit for the past few years. It was just in the past year that they've been selectively, carefully raising some people's credit limit...
Should I close my credit cards?
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Thread created 04-04-2012 by nfg1984
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Thanks for the reply. Just checked them again to make sure and one of them only has a $500 limit! Considering i've been a customer for 10 years, I don't know why they wouldn't increase it. Is it...
Should I close my credit cards?
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Thread created 04-04-2012 by nfg1984
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WTF? That has to be illegal some how. Was your credit score impacted that much by it? There must be more to the picture. I don't see how it would fall over like dominoes like that. That's just way...
Should I close my credit cards?
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Thread created 04-04-2012 by nfg1984
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16 Replies
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I find that hard to believe that the companies would close your accounts if you still owed them money. That domino effect is kind of weird too. You sure you didn't do something to cause all of this...
Should I close my credit cards?
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Thread created 04-04-2012 by nfg1984
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NEVER CLOSE A CREDIT CARD!!!!
I got a letter from Citi a few years ago about either increasing my %, or closing the account. I closed it.
...my Shell card was closed. And then my Sears card.
...
Should I close my credit cards?
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Thread created 04-04-2012 by nfg1984
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16 Replies
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Nothing at all
Should I close my credit cards?
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Thread created 04-04-2012 by nfg1984
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16 Replies
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That's basically the story.
Citi sent that letter, closed 1 account. I went to pay my Sears bill online, and saw that account was closed. And like dominoes they fell.
All had high debts on...
Should I close my credit cards?
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Thread created 04-04-2012 by nfg1984
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I've bolded the obvious reasons why you saw the domino effect with your accounts.
My guess is one of them was ready to do it anyways and once your other cards caught wind of the closure they...
Should I close my credit cards?
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Thread created 04-04-2012 by nfg1984
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16 Replies
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If you close an account, it remains on your credit card for 10 years. When its on your report, it still helps your Average age of accounts, and length of credit history.
Lets take a worst case...
Should I close my credit cards?
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Thread created 04-04-2012 by nfg1984
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Don't close them, especially if they are no fee cards. Keep making small purchases and using them here and there so they remain active. You can also stay on top of Capital One in terms of having them...
Should I close my credit cards?
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Thread created 04-04-2012 by nfg1984
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Only thing I can think of too was the high debts, low payments thing. I don't know how much debt you carried..but it obviously was enough for other lenders to look at you as a bad investment and...
Should I close my credit cards?
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Thread created 04-04-2012 by nfg1984
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It is not perfect but create an account on Credit Karma and see what would happen if you dropped a card they have a what if simulator
Should I close my credit cards?
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Thread created 04-04-2012 by nfg1984
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I have two capital one visa credit cards, they were my first cards to begin establishing credit in 2002. They have always been in good standing, however, they each have a $1,000 limit. I have been...
Should I close my credit cards?
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Thread created 04-04-2012 by nfg1984
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16 Replies
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There's something more to this story.
I've closed several store cards and never had any negative impact from doing so other than the obvious (reduction of total credit, higher debt to credit...
Should I close my credit cards?
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Thread created 04-04-2012 by nfg1984
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16 Replies
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Eh, I consider it the growing pains of college
I just settled a 5k debt (paid 3700) and transunion said in writing it'll be off in 2014. They backdated the settlement to early 2010, probably...
