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CreditAdvice
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Subject: 3 low balance CC which ones to keep?
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Thu Feb 04, 2010 9:54 pm
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I have 3 CC both with a low balance and was wondering do I need all three?
2 with First Premier
(1) CC balance $250.00
(2) CC balance $300.00
1 with Orchard Bank
(1) CC balance $400.00
Should I keep all 3 and just charge a tank of gas each (45.00) because if I do something big it might effect my creditscore so I hear. |
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Justin
Joined: 17 Jul 2006
Justin's page
Posts: 1240
28942 Magic Points
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Subject: 3 low balance CC
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Fri Feb 05, 2010 10:29 am
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Hi CreditAdvice,
You yourself should try to decide,which card to keep because you will know it better which card you can easily maintain. Closing accounts that has good credit history may affect your score negatively. So before closing the accounts first check your credit report, then decide which cards you can close.
However, one thing that you can do about it is, transfer the balances from two cards to the third one. But before doing that you need to check the interest rates on the cards for balance transfer. You can talk to the individual banks regarding transferring the balance from one card to the other.
As for the gas credit card, you can have one, for building good credit, but for that you need to make timely payments.
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All the Best 
Justin |
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FreedomDM
Joined: 28 Oct 2009
FreedomDM's page
Posts: 106
Location: Florida
2218 Magic Points
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Subject: booooo 1st PREM!!!
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Wed Feb 10, 2010 8:32 pm
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1st Prem has obnoxious fees, espec if u pay ur bill online- ever check out ur statement? I work for a consolidation cmpany and just closed my 2 1st Prem accts and enrolled them in the program - got tired of all their fees and the balance never going down - PLUS, 1st Prem goes to 0% ina consolidation program.
Orchard isnt a bad creditor but 1st Prem straight sucks. Theyre the wonderful creditor whos now offerring their credit cards with a 79.9% APR for ppl to build their credit. Isnt that nice?!
Not telling u to consolidate but Id get rid of those 1st Prems ASAP. If u keep em, watch ur stmnts and the fees ur being charged.
They just tried to hit me with an annual $48 fee.
CRAZY!
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Michael J Brazier
Non-Profit Budget Counseling |
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melchface
Joined: 11 Feb 2010
melchface's page
Posts: 1
16 Magic Points
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Thu Feb 11, 2010 9:24 am
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HI,,
As the 3 are of yours,its in your hands to choose the one..I would like to suggest you to pick the one that will be useful and easy for you to handle..
Thank you..
credit risk management |
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