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If you pay off all your credit cards off and close the little ones will it bring your credit score up?
Wiki User
∙ 14y ago
Actually closing a paid account can hurt your score, just pay it off and cut the card up or put it in a sock draw.
Wiki User
∙ 14y ago
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If you close out some of your credit card accounts and continue to pay them off will that increase your credit score?
You should not close a credit card if you are still paying on it. It will bring your credit score down. Close it when you are done paying. I know this because my mom owns her own credit repair/management business and she tells me what to do with my credit cards.
Can a bank close your account after bankruptcy if you never bounced checks and have no line of credit with them?
No, the banks can not close your saving and checkings account. If you have credit card debts then yes they can close your credit cards.
How do you close credit cards without affecting your credit scores?
If you are responsible don't close your credit cards off, but make a purchase every month to keep it active. You could buy something for $10 - $30 dollars and put it on your credit card and pay that $10-$30 off the next day. If you don't trust yourself with credit cards then just close your account. You must get plenty of ads in the mail from credit card companies offering you different interest rates so there will be no problem reactivating any credit card.
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.
What is a trustworthy company that provides secure credit cards?
There are many trustworthy companies that provide credit cards. Some companies that provides secure credit cards are American Express, Chase, Capital One, and Bank Of America. You should find a close company near you and ask more information about it.
Are bank cards affected by being next to another bank card?
The magnetic strips on the back of bank cards and credit cards can be affected by strong magnetic fields or being close to weak magnetic fields. When you keep credits cards in a wallet with magnetic strip touching or being very close together, it is possible for the magnetic strips to affect each making them unreadable. Even so, the credit cards can still be used by manually keying in the credit card number.
What is the interest charged by Chase credit cards?
Like almost all credit card companies, Chase offers a number of different credit cards. The interest charged by Chase ranges from only a few percent to close to a standard rate (20% at most credit card companies).
Is it better to have paid off open credit accounts on your credit report or should you just go ahead and close them?
It all depends on your income. It is good to have zero balance credit cards on your credit report. But if your potential debit to income ratio is too high, having too many credit cards could be a negative reflection on your credit score.
Are there any credit cards that won't negatively affect my credit score?
Your best bet would be to close those older credit cards. While it may take some time, your credit score can be improved. However, opening a new credit card, even if it doesn't affect your credit score may not be the best way to go. I am unsure if there is a credit card that wouldn't affect your credit score.
How do you raise credit score?
Pay your bills on time, keep the balances on your credit cards low, establish a long length of history (don't close old accounts).
If you have three credit cards would it hurt your credit score to close two out of the three cards?
It may. The target range for maximum points to your score is two to four revolving accounts. Managed properly and paid on time will cause points to be added.
You just finished paying off your credit card should you close the account?
Closing the account will remove the temptation to spend up the cards again but, closing the account can actually lower your credit score. You ought to take that question and your private credit information to a credit counselor for a better answer. By the way, CONGRATULATIONS on paying off the cards!
