This weekend I purchased a new small screen. I was going to charge it to my Discover card, but the store have a 12 month no interest if approved for their card. So I applied, got the card on the spot, and go to buy the television. Long story short didn't bring to a close up buying from that store, didn't use the card, and never will.
Will it hurt my credit if I cancel the card right away? My credit score is 769 right very soon. I'm getting ready to look into buying a house soon and don't want to hurt my credit. I hold two other credit cards that I've paid bad every month since I've had them. Any input would be greatly appreciated.
Answers: I hold several Credit Cards and use them for the same intention as yourself, to build up my Credit. Not using the Card will not hurt your Credit. I would keep the Card stirring for awhile before canceling it out, it in recent times looks better on your Credit report. I for one would shop with this store and fashion a purchase using your card and then freshly pay it bad when the Bill comes in. This is building up your Credit History. Credit Cards can be an Asset as long as you know how to direct them and not go overboard close to alot of people do.
I believe that canceling any credit card will hurt your credit. I hold several cards I never use, but creditors see that at least I hold open accounts, and it looks better to the wall. Even if you don't use a card, keep it clear. Companies also like to see you spend - as little as it is - and keep hold of accounts relatively active near payments, so they know you are a good credit risk. Yes, it will hurt your credit because your credit win improves the more credit you own available to you. So if your credit card has a strip of credit of say, $1,000, closing it will lower your overall available credit. Keep your balance low on your credit cards, (no more than 35% but the lower the better), and you'll be in biddable shape.
U don't have to revoke the credit card,,,,,,,,,just verbs it when it comes therefore U don't own to worry going on for your score.
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Will it hurt my credit if I cancel the card right away? My credit score is 769 right very soon. I'm getting ready to look into buying a house soon and don't want to hurt my credit. I hold two other credit cards that I've paid bad every month since I've had them. Any input would be greatly appreciated.
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Answers: I hold several Credit Cards and use them for the same intention as yourself, to build up my Credit. Not using the Card will not hurt your Credit. I would keep the Card stirring for awhile before canceling it out, it in recent times looks better on your Credit report. I for one would shop with this store and fashion a purchase using your card and then freshly pay it bad when the Bill comes in. This is building up your Credit History. Credit Cards can be an Asset as long as you know how to direct them and not go overboard close to alot of people do.
I believe that canceling any credit card will hurt your credit. I hold several cards I never use, but creditors see that at least I hold open accounts, and it looks better to the wall. Even if you don't use a card, keep it clear. Companies also like to see you spend - as little as it is - and keep hold of accounts relatively active near payments, so they know you are a good credit risk. Yes, it will hurt your credit because your credit win improves the more credit you own available to you. So if your credit card has a strip of credit of say, $1,000, closing it will lower your overall available credit. Keep your balance low on your credit cards, (no more than 35% but the lower the better), and you'll be in biddable shape.
U don't have to revoke the credit card,,,,,,,,,just verbs it when it comes therefore U don't own to worry going on for your score.
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