Comments on: Taking advantage of a credit card cancellation http://probargainhunter.com/2007/12/12/taking-advantage-of-a-credit-card-cancellation/ News, Tips and Resources for Online Bargain Hunters Mon, 01 Dec 2008 21:28:49 +0000 http://wordpress.org/?v=2.6.2 By: Eric http://probargainhunter.com/2007/12/12/taking-advantage-of-a-credit-card-cancellation/#comment-28818 Eric Wed, 02 Jan 2008 02:52:04 +0000 http://probargainhunter.com/2007/12/12/taking-advantage-of-a-credit-card-cancellation/#comment-28818 I try not to have too many credit cards and i've had the same cards for the past 5 years. I try not to have too many credit cards and i’ve had the same cards for the past 5 years.

]]> By: Festival of Frugality #106 - Happy New Year Edition | Moolanomy http://probargainhunter.com/2007/12/12/taking-advantage-of-a-credit-card-cancellation/#comment-28812 Festival of Frugality #106 - Happy New Year Edition | Moolanomy Tue, 01 Jan 2008 12:33:57 +0000 http://probargainhunter.com/2007/12/12/taking-advantage-of-a-credit-card-cancellation/#comment-28812 [...] Taking advantage of a credit card cancellation @ ProBargainHunter.com — Shares how to get the most out of your credit cards based on his experience. [...] [...] Taking advantage of a credit card cancellation @ ProBargainHunter.com — Shares how to get the most out of your credit cards based on his experience. [...]

]]> By: js http://probargainhunter.com/2007/12/12/taking-advantage-of-a-credit-card-cancellation/#comment-28660 js Sun, 16 Dec 2007 03:00:26 +0000 http://probargainhunter.com/2007/12/12/taking-advantage-of-a-credit-card-cancellation/#comment-28660 "Lenders view all open credit lines as potential debt. Too much unused credit may affect your ability to qualify for a home or a car loan." source: http://moneycentral.msn.com/content/Banking/creditcardsmarts/P71448.asp “Lenders view all open credit lines as potential debt. Too much unused credit may affect your ability to qualify for a home or a car loan.”

source: http://moneycentral.msn.com/co.....P71448.asp

]]> By: Credit Help http://probargainhunter.com/2007/12/12/taking-advantage-of-a-credit-card-cancellation/#comment-28641 Credit Help Thu, 13 Dec 2007 23:07:24 +0000 http://probargainhunter.com/2007/12/12/taking-advantage-of-a-credit-card-cancellation/#comment-28641 The total amount of credit available is an important aspect of credit scoring. So if you close a credit card account, you'll lose that portion of your total available credit, which could adversely affect your credit score. Another important aspect is the length of time an account has been open. So if you have certain accounts that have been open for a long period of time, it would be prudent to keep those open, and close the newer ones if need be. The total amount of credit available is an important aspect of credit scoring. So if you close a credit card account, you’ll lose that portion of your total available credit, which could adversely affect your credit score.

Another important aspect is the length of time an account has been open. So if you have certain accounts that have been open for a long period of time, it would be prudent to keep those open, and close the newer ones if need be.

]]> By: X http://probargainhunter.com/2007/12/12/taking-advantage-of-a-credit-card-cancellation/#comment-28640 X Thu, 13 Dec 2007 11:11:35 +0000 http://probargainhunter.com/2007/12/12/taking-advantage-of-a-credit-card-cancellation/#comment-28640 This is an interesting point. How do we find the right answer? Does a high credit limit help your score? This is an interesting point. How do we find the right answer? Does a high credit limit help your score?

]]> By: Yan http://probargainhunter.com/2007/12/12/taking-advantage-of-a-credit-card-cancellation/#comment-28639 Yan Thu, 13 Dec 2007 08:25:25 +0000 http://probargainhunter.com/2007/12/12/taking-advantage-of-a-credit-card-cancellation/#comment-28639 Isn't your credit score is the common standard used to measure your credibility? My understanding is that since the amount of credit extended to you does play in your favor when your credit score is calculated then more credit is a good thing for your credit rating. That said, I realize that your credit limit is just one factor out of many that are taken into account by the credit agencies when calculating your score. Isn’t your credit score is the common standard used to measure your credibility?

My understanding is that since the amount of credit extended to you does play in your favor when your credit score is calculated then more credit is a good thing for your credit rating.

That said, I realize that your credit limit is just one factor out of many that are taken into account by the credit agencies when calculating your score.

]]> By: js http://probargainhunter.com/2007/12/12/taking-advantage-of-a-credit-card-cancellation/#comment-28633 js Thu, 13 Dec 2007 02:13:21 +0000 http://probargainhunter.com/2007/12/12/taking-advantage-of-a-credit-card-cancellation/#comment-28633 Large credit limits Do Not positively affect your credit rating. Rather, your credit score is, in part, based on the amount of credit extended to you versus your income i.e. ability to pay off that debt. Large credit limits Do Not positively affect your credit rating. Rather, your credit score is, in part, based on the amount of credit extended to you versus your income i.e. ability to pay off that debt.

]]>