@pizzadude wrote:
@missmama wrote:We are getting ready to pay my bfs credit card. He had had the card 30 years and wants to keep it. He's thinking he won't get a high credit limit who has now of 25,000 is he goes to a new card. But we can't deal with that later. The rewards are horrible.
My question is how do we pay it off? Should we just make the payment and that's that? What do we call to try to make a deal ? We don't want to make a settlement and hurt his credit. I just didn't know if we should know of anything when we do this. Ty
Is the account in good standing now, or deliquent? If you don't pay the full amount it will be reported as a settlement, which will hurt your FICO score.
It is in good standing. He has never been late in 30 years. It was just at it's limit and he was losing sleep! We paid it off tonight 
I can't wait to print all those balance 0.00 due 0.00 .... SHOW ME THE 0'S!!!
We wouldn't want a settlement, no way worth the credit hit and other things it would cause. Thanks for the answers, just wanted to check. Next up is get him a card with rewards... since he will be PIF for now on!! That was horrible getting it so high and we never want to do that again. Of course it was mostly my causing 
lesson learned!!
@missmama wrote:
@pizzadude wrote:
@missmama wrote:We are getting ready to pay my bfs credit card. He had had the card 30 years and wants to keep it. He's thinking he won't get a high credit limit who has now of 25,000 is he goes to a new card. But we can't deal with that later. The rewards are horrible.
My question is how do we pay it off? Should we just make the payment and that's that? What do we call to try to make a deal ? We don't want to make a settlement and hurt his credit. I just didn't know if we should know of anything when we do this. Ty
Is the account in good standing now, or deliquent? If you don't pay the full amount it will be reported as a settlement, which will hurt your FICO score.
It is in good standing. He has never been late in 30 years. It was just at it's limit and he was losing sleep! We paid it off tonight
We wouldn't want a settlement, no way worth the credit hit and other things it would cause. Thanks for the answers, just wanted to check. Next up is get him a card with rewards... since he will be PIF for now on!! That was horrible getting it so high and we never want to do that again. Of course it was mostly my causing
Great feeling!!! Just make sure you check the account because there could be a new balance from previous balance finance charge tacked on.
Congrats on paying it off !!! That's got to be a great feeling 
And as mentioned above be sure to look at next month's statement to pay off any residual interest.