RSSTo close a credit card is bad for my credit score???
August 30th, 2010 by admin | Filed under Good Bad Credit Score.
I have two credit cards (visda and mastercard) and two stores cards (sears and jcpenney) I already closed one of the store cards because I never used before. Is it bad or good for my credit score?
HOW SHOULD I MANAGE MY CREDIT CARDS TO HAVE A GOOD CREDIT SCORE?
Tags: credit cards, Credit Score, jcpenney, sears, store cards
No. It won’t help nor will it make your score worse if you have not used it. That goes for all the other cards too. To keep your credit score up, spend about $50 or more and wait a little while to pay it. Not paying it right away helps establish credit. It won’t be a major increase, but is a good start.
Controlling The Expenditures
1. Do not buy anything that you do not really need. Step back and go home consider what you are about to buy. Sleep on it and get a better perspective the next day and then tell yourself do I really need to purchase that item. Stay away from attractive offers; remember you are looking into taking steps towards credit card debt elimination not supplementation.
2. Organize a monthly budget and do not sway away from it this is crucial for credit card debt elimination. Try not to digress from your budget because this will form the basis of your credit card debt elimination plan.
3. Keep your credit card at home. This credit card debt elimination technique will help prevent unplanned expenses from occurring. Try not to see this as a negative keeping your credit card at home because your beliefs take over. So it you believe it as a negative you won’t accomplish your goal. See it as positive when you think about it and use it only when really necessary. Read all about it at: http://www.credit-card-gallery.com/article/126,Two_Steps_To_Credit_Card_Debt_Elimination
if you close a card you don’t use it improves your credit score. you and I look at things as available credit however the credit reporting agencies look at it as available DEBT so the less debt you have compared to your income ratio the better off you’ll be.