Help With Credit

[Dustink]

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@NiNoMArksLA wrote:
I don't pay in full every month I pay $20 dollers over min payment my dad said to do that he's got a Amex Cars with no limt and 3 car loans and a credit card with $35k limt

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There is no benefit to carrying a balance. If you pay in full each month, you will save on interest charges.

[RonDawg]

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@Dustink wrote:

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@NiNoMArksLA wrote:
I am gonna close my express cause low limt and credit one and first bank but Is that bad on my credit report ?

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No, closing cards is not bad for your report. Just be sure to pay your accounts in full every month. Make sure that you either get refunded any fee's that the banks charge you, or make sure you pay them. Make sure the fees get tended to so they don't get reported as delinquent.

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Dustink is right about that, since all your accounts are under a year closing one should not effect your credit score. Now if you have cards that are a couple of years old then you may not want to close those as they may lower the average age accounts on your credit file that can lower your credit score.   But its all relative at this point if you want to close them then close them you should be fine.

Not like the credit gods are going to come down and punish you anyways lol

 

[NiNoMArksLA]

No the credit one and first bank i got appoved 2 days ago !!! So I don't think it will be anything

[NiNoMArksLA]

How long dose my bofa good for I think 12 months right ? I gave $300 to bofa to get the card and all my cards have a balance of 200 $250 I know its bad but I always pay every month on time I got a knife and cut off my cards not gonna use them till paid off then use less this $100 of the car till I get higher limts like $1000 later in life

[Dustink]

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@NiNoMArksLA wrote:
No the credit one and first bank i got appoved 2 days ago !!! So I don't think it will be anything

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If you have not activated them yet. You can call them up and tell them that after reviewing the documentation that you recieved with the cards. You are not going to open the accounts. Be firm but polite and make sure the accounts get closed and you do not get charged any fee's. Have your dad help you close them if you need to. Show him the card member agreement, and he should understand why you want them closed before they are activated.

[Dustink]

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@NiNoMArksLA wrote:
How long dose my bofa good for I think 12 months right ? I gave $300 to bofa to get the card and all my cards have a balance of 200 $250 I know its bad but I always pay every month on time I got a knife and cut off my cards not gonna use them till paid off then use less this $100 of the car till I get higher limts like $1000 later in life

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The $300 you gave them is in a savings account, and you will get i back. Unlike the first premier and credit one cards that will take your money and not give it back.

You need to get all of those cards paid off in full. You should only make a purchase on the card if you have the money in your bank to pay it.

[RonDawg]

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@NiNoMArksLA wrote:
How long dose my bofa good for I think 12 months right ? I gave $300 to bofa to get the card and all my cards have a balance of 200 $250 I know its bad but I always pay every month on time I got a knife and cut off my cards not gonna use them till paid off then use less this $100 of the car till I get higher limts like $1000 later in life

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Keep your BofA card and your Capital One card those 2 are good cards. You will have to call BofA and find out the terms of your Secured Credit Card Agreement.   Sometimes banks can make you wait 2 years to unsecure a card other times they only make you wait 12 months and even some banks will raise your credit limit on your secured card without you sending them more money.  So if I were you I would call BofA and find out how long you have to wait to get your deposit back.

[NiNoMArksLA]

Never gave credit one or first premier money just try ...so Tomorrow call and cancel them and keep bofa and 2 cap1 cards r the dep stores and pay in full every month .. Gonna pay off the cards Tomorrow

[Dustink]

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@NiNoMArksLA wrote:
Never gave credit one or first premier money just try ..

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They will bill it to your account. Read the article I posted.

[RonDawg]

Good Luck

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@NiNoMArksLA wrote:
Never gave credit one or first premier money just try ...so Tomorrow call and cancel them and keep bofa and 2 cap1 cards r the dep stores and pay in full every month .. Gonna pay off the cards Tomorrow

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