credit

Post reply Start a topic

Author

Message

Options

	Print this topic
	Invite a friend
	Email this topic

Bookmark online

	Add to del.icio.us
	Add to YahooMyWeb

chantel
Guest

Subject: credit

Sun Aug 23, 2009 9:27 pm

i only have one credit card, its a student visa for my college, whenever i need money its my fall back. but recently i signed up for an HBC mastercard to get a 10% discount on the items that i was purchasing, with this application of the HBC credit card will it affect my credit rating? i was told once when i get it i close it and it shouldnt be a hit but now i'm really stressing about it. Confused

fireyone

Joined: 26 Feb 2008
fireyone's page
Posts: 4285

127 Magic Points

Sun Aug 23, 2009 11:43 pm

I am not so sure about that since you already used the card. I do know the older a good standing credit card is the better your credit score since it shows good faith payments and proves you are responsible enough to pay your bills. Could you possibly leave this card open to improve your credit score and just put little thing that are easily paid off on it. You could make a purchase every few months and then pay it in two installments so there is not much of a balance and it helps your score.
If you would rather close it I would not think it would hurt your score since it is a new line of credit and has not had time to bui;d your score.

James Orr

Joined: 07 Jun 2009
JamesOrr's page
Posts: 54
Location: Maharashtra

298 Magic Points

Mon Aug 24, 2009 9:19 am

Are you applying for new credit card for get 10% discount on your purchase so it will be responsible for harm to your credit score which was buited up by your old credit card.

Thanks & Regards.
_____________________________________________________
Secure credit card will help you to improve your credit score faster.

Quick Reply

Your Name

Subject

Message body


Page 1 of 1

Home|Contact Us|Terms of Services|Privacy Policy|RSS

* Disclosures:

Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.