08-19-2007 02:51 AM
09-26-2007 12:44 PM
This is why I am working towards both higher CLs and lower APRs. The only time I have carried a balance over in the last few years was a typo (I sent them the wrong amount of money and I was not, at that time, obsessive/compulsive about checking everything on line ). I hope to continue this way, but if an emergency happens, or if the internet goes down, or if I am stuck somewhere, and I HAVE to carry over a balance, I want the lowest interest rate possible.Noah_Bodie wrote:It's true that a PIF CC which one keeps PIF each month doesn't incur interest charges, so the interest rate be danged. However, one never knows what the future holds. As such, it's still a good idea if one has PIF CCs, to seek lower APRs, higher CLs, and better terms. If it's AMEX and any of a myriad of other OCs, seek to get the CC upgraded to a better CC with better terms, no annual fee, more attractive rewards, etc.
01-03-2008 07:55 AM
01-03-2008 08:01 AM
01-03-2008 08:21 AM
01-03-2008 08:57 AM
I apologize is this is straying from the topic, but once a card is Paid off and you choose to close it, how will that effect your score? Lets assume that utilization is not an issue. I have heard that Average Age weighs both open and closed accounts equally. If this is true, can I expect my score to stay the same if I close my oldest card?
01-03-2008 09:03 AM
I apologize is this is straying from the topic, but once a card is Paid off and you choose to close it, how will that effect your score? Lets assume that utilization is not an issue. I have heard that Average Age weighs both open and closed accounts equally. If this is true, can I expect my score to stay the same if I close my oldest card?On your question, assuming util isn't a factor, I believe closing an old CC will impact average age as I believe that only counts TLs which are open.
01-03-2008 10:18 AM
01-03-2008 10:46 AM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.