Credit cards

[ZMan]

My first credit card was a Capital One. Got a 0% for 12 months offer and went with it. I've missed a payment once, and maxed it out once, but they haven't raised my rates or anything, unlike Chase. I missed the first payment with Chase (bill got buried on the kitchen table) and I lost my 0% for 18 months

 

[ZMan]

I ended up with so many because I was using the 0% interest for paying down bills.

I've heard that the more available credit you have the worse your score is. I would say it would be a good idea to cancel a couple of your cards, or have the available amount lowered. If you cancel them, request that they put "at customers request" as the reason why its canceled, that actually shows up on your report.

 

[cr_the_machinist]

The only credit I have is a small credit card for emergencies ($2400 I can fall back on) and I financed my truck ($8500~). I pay for everything in cash, debit, or check. I stay away from crediting as much as I can. Banks don't make a living by giving away money and holding your money for free.

 

[Jspafford]

I've heard that the more available credit you have the worse your score is. I would say it would be a good idea to cancel a couple of your cards, or have the available amount lowered. If you cancel them, request that they put "at customers request" as the reason why its canceled, that actually shows up on your report.

I've only run into this issue once. I was trying to get an unsecured personal loan last year.

The lady asked me if I realised I had almost 100K in available credit. I said it did, but asked her if she knew how much I had ever used. She did.

She said the only way I could get the loan is if I closed out ALL my credit cards. Yeah, not.

I closed out all my store cards, Zales, JBRobinson, Bestbuy, etc.

I was, however, just approved for a $115,000 mortgage loan.

My credit score is also in the high 700's.

 

[koda6966]

My father has an NRA Visa card.

Hell yea!

 

[Shran]

I'm pretty much against store cards...my fiance has a few of them and she used them like crazy until she realized she'd spent a ton of money. I clipped up my OfficeMax card after HSBC charged me $39 because their bank couldn't connect to my bank for an electronic payment...bastards...they did the same thing to my buddy who has a Menards card.

Oh, one other thing I have through my bank is basically a $500 credit line that I can access through my online banking deal. Pretty handy if you need to buy something, and easy to pay off.

 

[maitee1]

Good job. Its good to have a credit card, just don't fall in their little trap game. Never buy anything that you can not pay off. I follow this and never had to pay a cent of interest. My APR is either 7.4% or 7.9%, I know its a lot lower than when I first got one (24%). Just wish that NFCU would raise my $1K limit to either $2K or $2.5K. Maybe I'll switch to TFCU (my other local bank) and see what they offer. Just like to stay with NFCU since they were the first to even give me a credit card.

Learjet, I too am with NFCU. I had that problem once before with them not raising my limit. So I called them and said, I had this account here for a while and have been real good at it. May I have an increase to $xx and they did.

So just say hook me up.