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Will closing unused credit cards with no balances damage or improve your credit score?
It will generally improve your credit score. Your credit score is based on a complicated formula that takes many factors into consideration, including your total secured and unsecured debt, frequency of timely and late payments, payment history, nearness to maximum credit levels, etc.
A person would also be penalized for having a large number of accounts, whether used or not. Therefor, keeping the number of open accounts small is advisable. Keep the number to two or three.
What else can I help you with?
does using my credit card improve my credit score or damage my credit score?
Using your credit card can go both ways! If you choose not to pay your bills on time, you will recieve bad credit. If you pay all your bills on time, I'm certain you will have a squeaky clean credit!
Does a divorce hurt your credit?
The act of divorce does not damage your credit.
Is debt settlement bad on your credit report?
Debt settlement will have some bad effect on your credit. When a debt is settled for less than its full value, the creditor will note that on your credit report. The damage is much less than you'd experience with bankruptcy or default, and in most cases your credit will improve within a couple of years.
What are the benefits and risks of adding authorized users to credit cards?
Adding authorized users to credit cards can help build their credit history and improve their credit score. However, there are risks involved, such as the primary cardholder being responsible for any charges made by the authorized user and potential damage to the primary cardholder's credit if the authorized user misuses the card.
What are the important dates to keep in mind when managing a credit card?
Important dates to remember when managing a credit card include the payment due date, statement closing date, and the date when any promotional offers or introductory rates expire. Missing the payment due date can result in late fees and damage to your credit score, while not being aware of the statement closing date can lead to unexpected charges. Additionally, being mindful of promotional offer expiration dates can help you avoid higher interest rates or fees.
Would closing a credit card damage my credit score?
Yes closing a credit card can damage your credit score. But as long as everything else is good it should not affect you credit rating to much. Look for tips to keep a good credit card rating.
does using my credit card improve my credit score or damage my credit score?
Using your credit card can go both ways! If you choose not to pay your bills on time, you will recieve bad credit. If you pay all your bills on time, I'm certain you will have a squeaky clean credit!
Does credit counseling damage your credit for a long period of time?
Less than if you stay in a default or bankruptcy situation. Credit counseling teaches debtors how to effectively manage their debt. I've only personally seen credit counseling improve a person's credit. Financial education is key to moving forward.
How can you close a credit card account?
pay the balance,if any,and cut that bad boy up -> YOU CAN CLOSE IT WITHOUT PAYING THE BALANCE (CONTINUE TO PAY SO AS NOT TO DAMAGE YOUR CREDIT)...BUT IF IT'S A PROBLEM ACCOUNT YOU ARE BETTER TO BE THE ONE CLOSING THAN HAVING THEM CLOSE IT ON YOU.
How can a bad credit program help improve my credit?
While a bad credit program cannot make your bad credit disappear (don't fall for scams that say otherwise), but they can teach you how to repair the damage and move on with your life. They will help you to develop a budget you can stick to, teach you how to deal with creditors and debt collectors, give you credit counseling, and/or talk with you about the pros and cons of declaring bankruptcy. http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre03.shtm#improve
How do you improve pet damage in dragonfable?
U cant improve the pets damage u can only improve your Baby DRAGONS damage by buying dragon chows from lady Celestia
Does a divorce hurt your credit?
The act of divorce does not damage your credit.
Is debt settlement bad on your credit report?
Debt settlement will have some bad effect on your credit. When a debt is settled for less than its full value, the creditor will note that on your credit report. The damage is much less than you'd experience with bankruptcy or default, and in most cases your credit will improve within a couple of years.
What are the benefits and risks of adding authorized users to credit cards?
Adding authorized users to credit cards can help build their credit history and improve their credit score. However, there are risks involved, such as the primary cardholder being responsible for any charges made by the authorized user and potential damage to the primary cardholder's credit if the authorized user misuses the card.
If the principal is paid in full and the only payments left are interest from late charges can they repossess your car?
YES. Not usually. In New Jersey if you have more than 90 % equity in the vehicle they can no longer take the car. BUT they can still damage your credit for 7 years and try to collect in court. In practice they almost always damage credit with a chargeoff or a closing of the account but they rarely sue for small ammounts though they still can.
What are the important dates to keep in mind when managing a credit card?
Important dates to remember when managing a credit card include the payment due date, statement closing date, and the date when any promotional offers or introductory rates expire. Missing the payment due date can result in late fees and damage to your credit score, while not being aware of the statement closing date can lead to unexpected charges. Additionally, being mindful of promotional offer expiration dates can help you avoid higher interest rates or fees.
What is the seller's responsibility if damage occurred to the house the night before the closing?
I believe that you are responsible as the seller for any damage to the property until the papers are signed in the closing . At that time it becomes the new owners responsibility. Check with your realtor and closing attorney. Generally speaking, the seller still owns it and it is therefore his problem.
