Comments on: Seven Bad Credit Card Habits http://blog.equifax.com/credit/seven-bad-credit-card-habits/ Tue, 21 May 2013 11:09:25 +0000 hourly 1 http://wordpress.org/?v=3.5 By: chris http://blog.equifax.com/credit/seven-bad-credit-card-habits/#comment-13030 chris Mon, 08 Oct 2012 19:55:21 +0000 http://ec2-107-21-231-123.compute-1.amazonaws.com/?p=3973#comment-13030 I periodically go through my credit report and close any store cards I no longer want or shop at. I also have closed some very large lines of credit bank cards I have had for years and did not use, as a consolidation practice. It is difficult to maintain control and monitor too many cards. If the credit bureaus do not like that and decide to impugn my credit score, I don’t much care. I don’t know how they could find a better credit risk than my wife and me.

]]> By: Dan@mortgagefeecoach.com http://blog.equifax.com/credit/seven-bad-credit-card-habits/#comment-12903 Dan@mortgagefeecoach.com Mon, 24 Sep 2012 23:38:25 +0000 http://ec2-107-21-231-123.compute-1.amazonaws.com/?p=3973#comment-12903 Hello Sanj,
Why close any cards? I have spent days researching the various credit agencies and card issuers for an upcoming blog posting. It seems the best advice is to only close a card with late payments or negative feedback. Otherwise, it is best to keep your utilization rate or debt to credit line percentage as low possible. I have a Discover card with a low introductory rate of 0% until January 2013, which you might apply for. If you are looking for any credit card, ask a friend with a Discover card to refer you. Discover will pay the cardholder $50 and you will also get a $50 reward. FYI, I do not work for or affiliated with Discover in any way. I learned it in my research and thought it was a great offer. If you are looking to buy a home, car or other large purchase, you might wait until after receiving the loan to apply for a credit card.

]]> By: Dan Noland http://blog.equifax.com/credit/seven-bad-credit-card-habits/#comment-12683 Dan Noland Fri, 14 Sep 2012 18:56:10 +0000 http://ec2-107-21-231-123.compute-1.amazonaws.com/?p=3973#comment-12683 Number 7 doesn’t seem to be a habit. It doesn’t even seem to be particularly good advice.

Your credit score helps you to acquire new lines of credit. Someone who is struggling with debt absolutely *does not* want to get any more credit. Escaping the trap of debt is far more important than a credit score. If someone finds that they are unable to resist the urge to use their credit cards then they should not hesitate a moment before canceling them all.

]]> By: Concerned user http://blog.equifax.com/credit/seven-bad-credit-card-habits/#comment-12682 Concerned user Fri, 14 Sep 2012 18:22:59 +0000 http://ec2-107-21-231-123.compute-1.amazonaws.com/?p=3973#comment-12682 Wow, this is not the correct way to contact Equifax.

]]> By: Sanj http://blog.equifax.com/credit/seven-bad-credit-card-habits/#comment-12568 Sanj Mon, 10 Sep 2012 14:27:28 +0000 http://ec2-107-21-231-123.compute-1.amazonaws.com/?p=3973#comment-12568 I have seven (7) cards, 5 major, 1 dept store, 1 electronics store that date back to 1986 (around 70K combined limits). Use 1 Amex for convenience and pay in full each month; will sometimes run small balance on electronics card at 0% for 2 or 3 months, other cards have 0 balances and are used about twice a year to keep them active. The interest rates are between 14% and 18%, credit is excellent (774) but have been unable to get any of them lowered. What is the best way and which cards to close with the least impact on credit score? I would like to open a new card at my credit union in the event I needed to run a balance for a month or 2?

]]> By: Carol Barnes http://blog.equifax.com/credit/seven-bad-credit-card-habits/#comment-12567 Carol Barnes Fri, 07 Sep 2012 19:54:20 +0000 http://ec2-107-21-231-123.compute-1.amazonaws.com/?p=3973#comment-12567 My name is Carol Barnes and someone by the name of Carolyn Barnes is showing up on my Credit Report, I have send a copy of my Social Security Number and a copy of my drivers license. Would you please take care of this discrepancy as soon as possible.

Thanks

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