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Are multilple cards a good idea?

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Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1883

1916 Magic Points

Subject: Cc
Posted on Sat Dec 19, 2009 10:03 am  

Why would your % jump so high, after just 4 months? ..from a 0%/ Gosh. Were you making your payments on time? When I received my CC ($250.00 limit) it was 9%. I've had it now for 3 months..the % hasn't gone up (as of yet, anyway). Been doing pretty good with it.

Joined: 26 Feb 2008
fireyone's page
Posts: 4246

132 Magic Points

Posted on Sat Dec 19, 2009 2:47 pm  

SD, these days anything negative can make your interest rate increase. We have gotten letters from almost all out account holders informing us "due to economic conditions we will be raising your interest rate." My new years resolution is to pay off the couple we have and only make purchases that can be paid in a couple months. We often used our Lowes card for home projects, paying it off every income tax and then starting a new project. We are no longer going this route.

Posted on Sat Dec 19, 2009 3:45 pm  

Thanx Justin~Is there an optimum number of cards, don't want to red flag unneccessarily if that is a concern..but I bet some of those cards I haven't used for eons. Also do you think any cards are trustworthy to hold at 0 in this crazy pre regulation time? I am convinced I was bumped to 20 percent to help pay back the TARP money..banksters!


Joined: 13 Aug 2007
sdchargers_63's page
Posts: 1883

1916 Magic Points

Subject: credit
Posted on Sun Dec 20, 2009 9:16 pm  

FIERYONE...I do agree this economy is really 'breaking' everyone. If people have no income, they live on the CC's they DO have (if they have any) to 'survive'. If the %'s, of those CC's get so high, you can't afford to live. Gosh......I'll tell's crazy right now.

Subject: Twist on this answer...
Posted on Sun Dec 20, 2009 11:16 pm  

Thank you Justin, what would be the optimum number of accounts to leave open. I have 9 right now, and don't want the number to fall too low, right? Do I just take out maybe 6 of the lower limit ones, and leave the last three, including the one that jacked up to 21% They actually had the hightest limit of any of them. Besides that would probably look bad after only 4 months, even tho it was THEIR BAD!

Subject: twist on this answer..
Posted on Sun Dec 20, 2009 11:23 pm  

SD credit card went from 0% - 20 in 4 months because they are BANKSTERS! I got laid up in July couldn't even walk to the mailbox to pay paid online. First month went fine...second time I tried, it didn't accept my password. In my humble opinion, they intentionally told me they would direct debit my bank account, then just went on and made it look like I was late. I called them went the next statement didn't reflect to debit, and they told me...ooops..we see where you did try to do that online..something must have not been done right (on their end) and would I mind re-making that payment. Natually it was late by now, but only a week..and like I said..It was all a trick...Watch out out there!

Joined: 07 May 2010
Enriquehajela's page
Posts: 11

128 Magic Points

Posted on Mon May 17, 2010 9:41 am  

Multiple credit cards is a good idea but you handle these cards in good manner.Just keep your total debt to overall total credit limit under 30%. pay all your installment regularly and in time.
Bad Credit Car Refinance

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