Should I close the accounts of my older credit cards?
Guest: aman74
Post subject: Should I close the accounts of my older credit cards?
Posted: Mon Apr 17, 2006 4:06 pm
I'm not always able to PIF unfortunately, that's why I posted for suggestions.
I don't have a cell to use as a work number.
In a time of financial stress I hate throwing away money with Chase. Even in good times there's no sense in wasting money.
Anyone have any tips on the questions I posted?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: QikPass
Credit Expert (100+ Posts)
Posted: Mon Apr 17, 2006 5:03 pm
First of all...dont close your older cards.
Since you have a relatively high credit score, try applying for a new card with a 0% balance transfer offer for 12 or 15 months . I have 3 AMEX cards and they have never once called to verify my employment. I would use your last employer on the application form and maybe put a relative or friend's cell as the work number.
I would recommend AMEX as they give generous limits and the 0% is also for purchases for 15 months. When your card is being activated, call them and ask for a limit increase if the dont give you a limit to cover your entire balance, but with a 23000 CHASE card already in your possession, they will probably start you off around a 25000 limit anyway.
Balance transfer whats on your CHASE card to your new AMEX card and pay the minimum until you are able to get back on your feet. You may have to eat a $75 balance transfer fee, but with such a large balance at 0%, its nothing compared to what you will save on the interest.
Good Luck.. hope this helps.
_________________
Fortune Favors The Bold...
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: aman74
Posted: Mon Apr 17, 2006 5:38 pm
Yes, thanks for the help. Is there a problem with not being forthcoming about income? My last job didn't even pay that much, so I don't know what to put. I have a high FICO I guess since I believe I have only missed one payment in 15 years of accounts.
Is it healthy for your credit score to change from a long standing account?
Which Amex do you prefer? I was looking at the Costco one since I thought about signing up there, but I believe the rate isn't that great since it's a rewards card.
When you say "call when it's being activated" what is the exact process here. Just not sure if you mean to apply online and then I will have time to call? Do I apply while doing the transfer or should I apply first and then transfer? I just want to know I'll be able to do the transfer with the limit they give me. Some cards have you put the amount you would like to transfer to them at the same time you are applying.
I just don't want to get into the game of switching cards everytime the 0 percent expires. Does Amex have something that defaults to a decent rate after the 0 percent expires.
Should I allow Chase to keep raising my CL in my current circumstance?
Thanks to all who have chipped in so far.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: QikPass
Credit Expert (100+ Posts)
Posted: Mon Apr 17, 2006 9:22 pm
Amex has a range when you apply. If you uncomfortable, fudging about your income, just remember that you need to use the "household" income. That includes the dogs income...(dosent your dog earn at least 60 000?).
I prefer the AMEX Blue (not blue cash), as it gives 0% on purchases and balance transfers for 15 months with a faily decent rate after the 0% is up. Of course at that time, if u still carrying a balance, call them and ask to have your rate lowered.
Process for CL increase at activation is as follows. Apply online for the card. When you get your card, dont activate the card via the automated number. Call the number on the back of the card and speak to a CSR.tell them you want to activate the card, but to do so you need to have the limit increased . They will ask how much you want, ask them whats the max u can get . AMEX usually matches or goes over your highest current card limit.
You can also include the balances you want to transfer with your online application, saves you some time and kinda almost guarantees that you'll get that large limit...especially since you already have a high score and a decent record of credit.
Note that AMEX gives up to 25 000 without needing to verify income, so use that as you maximum that your asking for.
Good Luck..
_________________
Fortune Favors The Bold...
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: TomfromCT
Credit Expert (100+ Posts)
Posted: Mon Apr 17, 2006 9:31 pm
credit obtained via deception is FRAUD....
besides the obvious problems.....credit obtained through fraud is also not dischargeable via bankruptcy.
_________________
Average FICO score: 709
56 Months of perfection!
I'm bored
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Mon Apr 17, 2006 11:05 pm
FRAUD???
Where did that come from????????
That applies to somebody applying for a card that they have no intention on paying using YOUR information...
Or using YOUR card they took from you with-out your permission
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Post subject: Should I close the accounts of my older credit cards?
Posted: Mon Apr 17, 2006 4:06 pm
I'm not always able to PIF unfortunately, that's why I posted for suggestions.
I don't have a cell to use as a work number.
In a time of financial stress I hate throwing away money with Chase. Even in good times there's no sense in wasting money.
Anyone have any tips on the questions I posted?
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: QikPass
Credit Expert (100+ Posts)
Posted: Mon Apr 17, 2006 5:03 pm
First of all...dont close your older cards.
Since you have a relatively high credit score, try applying for a new card with a 0% balance transfer offer for 12 or 15 months . I have 3 AMEX cards and they have never once called to verify my employment. I would use your last employer on the application form and maybe put a relative or friend's cell as the work number.
I would recommend AMEX as they give generous limits and the 0% is also for purchases for 15 months. When your card is being activated, call them and ask for a limit increase if the dont give you a limit to cover your entire balance, but with a 23000 CHASE card already in your possession, they will probably start you off around a 25000 limit anyway.
Balance transfer whats on your CHASE card to your new AMEX card and pay the minimum until you are able to get back on your feet. You may have to eat a $75 balance transfer fee, but with such a large balance at 0%, its nothing compared to what you will save on the interest.
Good Luck.. hope this helps.
_________________
Fortune Favors The Bold...
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: aman74
Posted: Mon Apr 17, 2006 5:38 pm
Yes, thanks for the help. Is there a problem with not being forthcoming about income? My last job didn't even pay that much, so I don't know what to put. I have a high FICO I guess since I believe I have only missed one payment in 15 years of accounts.
Is it healthy for your credit score to change from a long standing account?
Which Amex do you prefer? I was looking at the Costco one since I thought about signing up there, but I believe the rate isn't that great since it's a rewards card.
When you say "call when it's being activated" what is the exact process here. Just not sure if you mean to apply online and then I will have time to call? Do I apply while doing the transfer or should I apply first and then transfer? I just want to know I'll be able to do the transfer with the limit they give me. Some cards have you put the amount you would like to transfer to them at the same time you are applying.
I just don't want to get into the game of switching cards everytime the 0 percent expires. Does Amex have something that defaults to a decent rate after the 0 percent expires.
Should I allow Chase to keep raising my CL in my current circumstance?
Thanks to all who have chipped in so far.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: QikPass
Credit Expert (100+ Posts)
Posted: Mon Apr 17, 2006 9:22 pm
Amex has a range when you apply. If you uncomfortable, fudging about your income, just remember that you need to use the "household" income. That includes the dogs income...(dosent your dog earn at least 60 000?).
I prefer the AMEX Blue (not blue cash), as it gives 0% on purchases and balance transfers for 15 months with a faily decent rate after the 0% is up. Of course at that time, if u still carrying a balance, call them and ask to have your rate lowered.
Process for CL increase at activation is as follows. Apply online for the card. When you get your card, dont activate the card via the automated number. Call the number on the back of the card and speak to a CSR.tell them you want to activate the card, but to do so you need to have the limit increased . They will ask how much you want, ask them whats the max u can get . AMEX usually matches or goes over your highest current card limit.
You can also include the balances you want to transfer with your online application, saves you some time and kinda almost guarantees that you'll get that large limit...especially since you already have a high score and a decent record of credit.
Note that AMEX gives up to 25 000 without needing to verify income, so use that as you maximum that your asking for.
Good Luck..
_________________
Fortune Favors The Bold...
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: TomfromCT
Credit Expert (100+ Posts)
Posted: Mon Apr 17, 2006 9:31 pm
credit obtained via deception is FRAUD....
besides the obvious problems.....credit obtained through fraud is also not dischargeable via bankruptcy.
_________________
Average FICO score: 709
56 Months of perfection!
I'm bored
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: mouse
SENIOR MEMBER (Member for 2 yrs.+)
Posted: Mon Apr 17, 2006 11:05 pm
FRAUD???
Where did that come from????????
That applies to somebody applying for a card that they have no intention on paying using YOUR information...
Or using YOUR card they took from you with-out your permission
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 5:35 AM
0 Comments:
Post a Comment
<< Home