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Rolo
Yo' Daddy
Cash: $ 309.70
Posts: 1551
Joined: 13 Mar 2005
Location: Colorado/Florida
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| Re: Should I take the offers??? |
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quote:
Originally posted by mchnhed
My questions are.... IS THAT TRUE??
No, it isn't. It will affect your score.
You should be able to talk to someone higher up in the chain and get a likely answer if you tell them your score and history before you apply.
"Expect me when you see me."
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Thu Apr 06, 2006 12:40 pm |
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mbd
Member
Cash: $ 4.60
Posts: 23
Joined: 31 Mar 2006
Location: Rogers, AR
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mchnhed,
It sounds like you are concerned about building and maintaining a good credit record, and you need more credit.
The best way to build a good record is to make continuous, regular, on-time payments on all of your accounts. It also looks better if you have the same accounts for a long time. So it's best not to jump from bank to bank chasing rates and credit limits. Find a bank that has consistently reasonable rates. Try credit unions, or USAA if you qualify. A bank that you have a long positive history with may also be a good choice and may be willing to work with you on rates and limits.
As for the higher credit limit, the big question is "Why?". If you're making a major purchase, you may get a better deal by applying for a collateralized loan. If you're using the card for expenses, then it should also be paid off on a regular basis, so the rate won't matter as much as things like cashback or miles programs that pay based on how much you use the card.
If you think you have a problem with credit card debt, we need to talk further, but switching cards probably won't be better than a consolidation loan in that case.
Let me know if this helps.
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Fri Apr 07, 2006 6:06 pm |
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