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If a person has high available credit on cards they will not use again should they close those accounts?
Wiki User
∙ 8y ago
It would probably be in your best interest to close the account(s). You will be protecting yourself from identiy theft/credit card fraud. And depending on your credit terms, annual or semi-annual fees, that can be assessed whether the account is used or not.
Wiki User
∙ 8y ago
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How would a collection of 230 affect a person with 50000 in available credit and 730 score?
Your credit score can be decreased by having collection accounts listed, a judgment, late payments or if you have too much available credit. If you have that much credit, you would want to contact the credit issuer to lower your credit limit. Your debt should never be more than 35% of the available credit. Timely, consistent payments to your creditors and low credit limits will help increase your credit score.
When should you close unused credit cards and will this hurt or help your credit score?
Usually closing accounts will hurt your score because if you have debt on other cards, your debt to available credit ratio will rise and it can ding your credit score.
Can creditors remove their accounts from your credit report?
no, it should stay on your credit report for life.
Is accounts payable a debit or creit balance account?
Accounts Payable is a liability so it should be a credit balance.
How do i build my credit to lease a Honda?
Get yourself a credit card anduse only about 25% of the available credit, then make on time payments, bring all of your accounts current, and possibly add one or two more credit accounts just to build a history, make sure to look at your credit report and contest any negative items on it ( if the creditor does not respond the item is removed ) and see what you are left with, that should make a significant bump in your rating.
How many free credit checks are available every year?
According to FTC regulations each person is available to get one credit check each new year. These may be obtained from all three credit collection companies and should also include your score.
Does canceling inactive credit cards help your credit score?
I am a senior credit counselor, and actually closing your cards will hurt your score, the way your score is calculated is by how much available credit you have in comparison to how much debt you are currently carrying. If you have the cards with zero balance and available credit on them, then raises your available credit to total debt ratio, thus increasing your score. However, after you have purchased your home, you might want to consider closing the accounts because of the risk of identity theft. Or look into the new credit monitoring services, they are very inexpensive and usually offered through the credit bureaus. They will let you know if anyone checks your credit or if any changes have occurred. Actually, it can hurt your score. the FICO score looks at length of credit history (taking an average of all credit card accounts). If it is an older account, it would likely hurt your score. Closing a newer account would be best. If you go to MyFico.com, you can look at what factors into your score. They suggest to leave accounts open. This of course varies from person to person. If you have 10 credit card accounts and wish to close one of the newer ones or if you would like to consolidate some of the cards, it might be a good idea......Someone with fewer accounts and a shorter history should keep them open. Most important thing to remember.....everyone's credit score is calculated differently (i.e. based on the characteristics of their history). What is a good move for some, may not be for all.
How do you find out if someone is using credit cards of a deceased person?
The most obvious way would be to check the statements for usage. And all credit cards should be notified as soon as possible of the death of the holder and the accounts cancelled.
Should I close all old credit card accounts that have 0 balances?
yea if you dont want bad credit
When posting a column total in the purchases journal a credit should be posted to?
accounts payable
If a person was sued many years ago for child support but recently the arrears were suspended by the court can this be removed from their credit report by going through a dispute process?
Yes, the person can dispute the debt with the credit bureaus to have the information removed from their credit report. They should provide documentation of the court's decision to suspend the arrears when disputing the information. It's recommended to monitor their credit report after the dispute to ensure the changes have been made.
Do adverse credit bank accounts have high monthly fees?
Normally bank accounts are not affected by adverse credit. If they are, there should not be a higher fee connected to them unless a loan is involved. Normally bank accounts are not affected by adverse credit. If they are, there should not be a higher fee connected to them unless a loan is involved. Absolutely NOT yes i have maybe 400000 dsh in my acunt NO, UNLESS A LOAN IS OUTSTANDING.
