credit cards
How many credit cards should I have open for a good credit score?
I have 4 credit cards (limits are 1000, 3300, and two 500s) and was considering getting rid of one 500 credit card. Should I pay the whole thing off and KEEP it or GET RID of it??
Keep it with a 0 balance. As long as it doesn’t have an annual fee you aren’t hurting yourself. Having more accounts (3-4 minimum, not more than 6-7 revolving accounts) helps you by giving a lender MORE evidence that you can manage your debts over a longer period of time. If a person has no late payments but only has one credit card with a 500 limit for the last 6 months – how do you know they are a good risk?
What is the best approach to apply for a card lower credit interest rate?
I have reached the maximum of 5 cards $ 5,000 each about the same interest rate,% 27. I pay $ 15,000. Is there anyway the ability to pay a discount card may be used to promote a lower interest rate, or should pay only 3 cards and not worry?
Paying off your cards, then request a quote lower. That's what I did. I think that as you are still 10k short of paying all their cards. Exceeded the limit of five cards, is why your rate is so high. It seems which is nearing the maximum amount of debt. No doubt that is why its rate is so high.
Credit & Debt Consolidation : Credit Card Debt & Low Interest
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