Author Topic: Misc Credit Card Questions  (Read 747657 times)

Offline Cat18

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Re: Misc Credit Card Questions
« Reply #9540 on: October 24, 2020, 10:38:30 PM »
When upgrading my freedom to the sapphire Reserve will chase do credit pull?

What about citi when downgrading premier to rewards+ ?

Online yochai

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Re: Misc Credit Card Questions
« Reply #9541 on: October 24, 2020, 10:44:46 PM »
When upgrading my freedom to the sapphire Reserve will chase do credit pull?

What about citi when downgrading premier to rewards+ ?
No to both

Offline Eb228

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Re: Misc Credit Card Questions
« Reply #9542 on: October 24, 2020, 11:16:12 PM »
I have a Barclaycard arrival I never use. They just sent me a letter that if I donít make a purchase in the next 30 days, they will close it due to inactivity. Any reason for me to keep it active? Will it negatively affect my credit score?
If its one of your longer accounts open, it helps your score by averaging in a longer year amount

Offline ckmk47

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Re: Misc Credit Card Questions
« Reply #9543 on: October 25, 2020, 10:54:56 AM »

I have a Barclaycard arrival I never use. They just sent me a letter that if I donít make a purchase in the next 30 days, they will close it due to inactivity. Any reason for me to keep it active? Will it negatively affect my credit score?
If its one of your longer accounts open, it helps your score by averaging in a longer year amount
If your oldest or near oldest is a no-fee card, keep it forever.
Oldest by decent amount of time so that it lengthens your credit history.

Offline ckmk47

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Re: Misc Credit Card Questions
« Reply #9544 on: October 25, 2020, 10:55:46 AM »
Did it for DW and she was approved for both, was also at 4 24
If theyre both going off the same credit report, how couldd it show as 5 24?
5/24 is for cards opened not credit pulls.

Offline Eb228

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Re: Misc Credit Card Questions
« Reply #9545 on: October 25, 2020, 11:05:23 AM »
5/24 is for cards opened not credit pulls.
She had 4 cards opened in the past 24 months, did 2bm for 2 chase cards, she was approved for both, putting her at 6/24

Offline Mootkim

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Re: Misc Credit Card Questions
« Reply #9546 on: October 25, 2020, 08:16:31 PM »
She had 4 cards opened in the past 24 months, did 2bm for 2 chase cards, she was approved for both, putting her at 6/24
right. And now she won't get approved for more because she is over 5/24. The reason the 2bm works though is because each one is approved with her being at only 4/24

Online lcm

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Re: Misc Credit Card Questions
« Reply #9547 on: October 25, 2020, 11:13:47 PM »
Is keeping activity on a cc for the cc company or for your credit score?
Does activity have to be monthly or annual?

Offline ckmk47

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Re: Misc Credit Card Questions
« Reply #9548 on: October 25, 2020, 11:33:47 PM »
Is keeping activity on a cc for the cc company or for your credit score?
Does activity have to be monthly or annual?
A card issuer may close a card because of lack of activity. 
You don't want cards closed because losing the credit line may impact your credit score.
So:  Use your cards periodically.  IDK how often, but less than monthly is necessary.
OR: Close your card yourself and move the credit line.  Either to another card from that bank, or use it to open a new card.
Note: The hit to your credit score from losing the credit line is usually small and will disappear in a month or two.

Offline Yo ssi

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Re: Misc Credit Card Questions
« Reply #9549 on: October 25, 2020, 11:51:59 PM »
Is keeping activity on a cc for the cc company or for your credit score?
Does activity have to be monthly or annual?
A card issuer may close a card because of lack of activity. 
You don't want cards closed because losing the credit line may impact your credit score.
So:  Use your cards periodically.  IDK how often, but less than monthly is necessary.
OR: Close your card yourself and move the credit line.  Either to another card from that bank, or use it to open a new card.
Note: The hit to your credit score from losing the credit line is usually small and will disappear in a month or two.
I think your making it a bit more complex then necessary.

To answer @lcm keeping activity annually is for the credit card company, which will close your card otherwise.

If your looking to help your credit score then using it monthly, while closing your statements at $1 as Dan suggests is the best way to go.

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Re: Misc Credit Card Questions
« Reply #9550 on: October 25, 2020, 11:55:38 PM »


If your looking to help your credit score then using it monthly, while closing your statements at $1 as Dan suggests is the best way to go.

Thanks for the responses.
So I'm understanding that it's both.
And the time frame depends on the purpose.
Any insight on why using it monthly helps? Since it shows you paid you bill on time?

Offline Yo ssi

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Re: Misc Credit Card Questions
« Reply #9551 on: October 25, 2020, 11:57:29 PM »

Thanks for the responses.
So I'm understanding that it's both.
And the time frame depends on the purpose.
Any insight on why using it monthly helps? Since it shows you paid you bill on time?
https://www.dansdeals.com/?p=190011/#What%E2%80%99s_in_your_credit_score

Feel free to read the whole article:)
« Last Edit: October 26, 2020, 12:01:23 AM by Yo ssi »

Online lcm

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Re: Misc Credit Card Questions
« Reply #9552 on: October 26, 2020, 12:02:40 AM »
https://www.dansdeals.com/credit-cards/credit-cards-points-start-need-know-best-credit-cards/#What%E2%80%99s_in_your_credit_score

Feel free to read the whole article:)
Read it when it was written :) been on DDMS a while longer than DDF.
I see the part of paying off most of the balance except for "a buck or two".
My question is if there is a point in having activity to pay off to begin with.

Offline Yo ssi

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Re: Misc Credit Card Questions
« Reply #9553 on: October 26, 2020, 12:05:20 AM »
Read it when it was written :) been on DDMS a while longer than DDF.
I see the part of paying off most of the balance except for "a buck or two".
My question is if there is a point in having activity to pay off to begin with.
Quote
This will greatly increase your credit score.

Offline CountValentine

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Re: Misc Credit Card Questions
« Reply #9554 on: October 26, 2020, 12:06:11 AM »
You're so far up Trump's a** you can see Giuliani's feet.  HT Baruch