Just remember also some of those cards have the AF upfront. If you do decide to close them, make sure all fees are paid and nothing comes back to haunt you later.
July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge
Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
June 2017 update: All scores over 820, just pure gardening now.
@NiNoMArksLA wrote:
What's a sub prime but I just got the cards they didn't get in the mail yet if u Cancel those the first and credit will that be better ?? I got a like 10 or 11 inqs and not a applying for 2 years ?? I really want want to have good credit at 21 to buy a car with 0 apr ad 0 down lol
Well first off, you should never buy a car with $0 down. You will instantly have negative equity in the vehicle. Save up a huge down payment and get the shortest loan term you can afford.
Sub-prime is a class of borrowers that banks treat as unworthy of credit at a the going "prime" rate*. For example, a prime borrower may get a car loan at 4.9% while a sub-prime borrower with the same income may get the car at 14.9%.
*currently 3.25% a figured obtained by looking at the going rate for 30 year home loans to people with "prime" credit
@NiNoMArksLA wrote:
I just got the cards they didn't get in the mail yet if u Cancel those the first and credit will that be better ??
If you can cancel them and avoid the fees that would be good
@NiNoMArksLA wrote:
How long you been on credit history for and was that card cap 1 and hows that your only card . I know my credit is gonna take a while for me to be ok again
My first card was the US Bank college card. I got that mid-2011 with a $300 limit, then got it raised before it's 6 month point to $2500. Since then I have moved the available credit on it around, and that is why it is at $1500 now.
I got the capital one card 02/12
Your credit will heal fast. Inquires don't have much effect after 6 months, then after a year they have no effect
@NiNoMArksLA wrote:
What's AF I am just not gonna use dose first premie bank and credit one like $40 $50 bucks on gas and pay them just to be ok to credit report
Annual fee is the amount the bank charges you each year to have the card.
http://money.cnn.com/2012/02/09/pf/first_premier_credit_card/index.htm
@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 ?
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.