good bye credit card debt!

H

HydroSqueegee

Flaccid Member
Nov 15, 2004
1,446
0
0
44
Marklar
₥0
haha! got a small home equity loan to pay off the last of my credit card debt and get most of the expensive work done in the basement. (so im still in debt, but at least its not a credit card at 54 billion % interest).

$2200 new dollars left over sitting in my savings account after paying off those greedy capitalist pigs! :drool:

Now... whats the best way to close my credit cards (2 out of 3 of them). Do i just cancell them both in one day, or stagger it out over a couple months? Which way would it least hurt my credit score.
 
no no no don't close your accounts. the best think is to cut up the cards, but leave them open and UNUSED for two years. DO NOT TOUCH the accounts for two years.
if you close them all at once, it'll hurt you, and the older ones you close, the worse off you are. if you HAVE to close any, close the most recent ones first.
 
Thorn Bird said:
no no no don't close your accounts. the best think is to cut up the cards, but leave them open and UNUSED for two years. DO NOT TOUCH the accounts for two years.
if you close them all at once, it'll hurt you, and the older ones you close, the worse off you are. if you HAVE to close any, close the most recent ones first.
Click to expand...
Exactly what Thorn said.

The longer an account is opened, the better it is for your credit score. DO NOT CLOSE THE ACCOUNT.
 
Thorn Bird said:
no no no don't close your accounts. the best think is to cut up the cards, but leave them open and UNUSED for two years. DO NOT TOUCH the accounts for two years.
if you close them all at once, it'll hurt you, and the older ones you close, the worse off you are. if you HAVE to close any, close the most recent ones first.
Click to expand...
Yeah, stick 'em in a safe in the attic or something
 
Definitely don't close the accounts.

Trust me, that's just bad news for your credit score :(
 
*Fuxx Burger* said:
Exactly what Thorn said.

The longer an account is opened, the better it is for your credit score. DO NOT CLOSE THE ACCOUNT.
Click to expand...
I dont think any are older than 2 years. :lol:

hello paying off cards with cards! :tard:
 
zengirl said:
Definitely don't close the accounts.

Trust me, that's just bad news for your credit score :(
Click to expand...

why is that anyhoo? you would think lowering your possible debt ratio would be good for your credit since you cant borrow as much.
 
HydroSqueegee said:
why is that anyhoo? you would think lowering your possible debt ratio would be good for your credit since you cant borrow as much.
Click to expand...


because you're closing out lines of credit...it's weird, but it's based on debt to credit ratio. course, if you have NO credit anymore, even a little debt looks bad. since you still have debt, your ratio is lower with $0 balances and open lines of credit.
 
You must log in or register to reply here.
Top Bottom
Back