Credit Card Zero

I live in Ontario Canada..I have 3 credit cards all at a zero balance but one of them has a high credit limit. I know I have to either lower the credit limit on it or get rid of it but I don't want to effect my credit or chances of getting a mortgage...not sure what I should do.

Thanks for your help!

No, don't do anything. For some strange reason cancelling a credit line counts against you on your credit score. Doesn't make sense but its true. Just keep your balance at zero.

2009-02-11 06:37:10 by Drea

www.0balancetransfercreditcard ssite.com 0 APR Balance Transfer Credit Cards Is This A Good Choice For Me? Find out if you should apply for a 0 apr ...

I've had this credit card for seven years, taken out when credit was not good, so, had high interest on card.

For seven years I have maintained good payment history.

Now, it has a zero balance, and I have good credit.

I called this credit card company, and asked for a lower % rate. They told me I had to wait for an offer to come through the mail that they do not make lower interest rate offers by phone.

I do have three other great cc's. SHOULD I SHRED THIS CARD, or since this is the longest standing card will it hurt my FICO SCORE to much in doing so???
SHRED, CANCEL IS ONE IN THE SAME TO ME.

"Thank you" to everyone that is taking the time to answer, I appreciate it!

To SHRED the card won't hurt your credit score, to CANCEL it might, especially since it's a card you've had for seven years and maintained well. You should have been able to get a better interest rate though, maybe try calling them again soon, and maybe if you speak to a different person, you might get a few percentage points knocked off, or better yet, threaten them that you won't use their card anymore, or if you do use it, you'll pay the balance off every month and never pay a dime of interest anyway. Let them give you incentive to use their card again!

2007-07-01 14:07:45 by ebayerBarbaraLakeTahoe

Price: $14.95

I have credit cards with a zero balance that I had heard it was better for your credit to keep open, but I am not sure if having the open credit is better or not for my score.

It's always better to keep it open and have a zero balance than close it.

2009-01-17 17:47:15 by Amanda W

Price: $8.37

I'm looking for a credit card with no apr for the first year. I have a job and a credit card alredy, paid in full every month, but have been declined for two new credit card applications with different banks. Would I be able to get a zero % apr credit card with my parents as a cosigner?

What was the reason that you were denied credit? You should have received a letter stating what factors the banks decisions were based on and what credit bureau they pulled your credit report from.

Go to http://annualcreditreport.com and pull your credit report free once a year from all three major bureaus, there might be some negative/incorrect information on your credit report that needs correcting..

The banks are really getting tough on their lending practices, if your parents agree to do a joint account with you and if their credit meets the banks requirements, then yes you should be able to get the card.

2009-07-24 12:18:25 by Peusyphart

Thank you for your interest. I'm looking for a credit card with zero interest transfers. I have good credit. Length of zero-interest period and interest rates after zero-interest period are important. I would also like to hear about other factors I should consider when making a decision.

While availing a credit card, it is necessary to check the credit card rate. This rate plays an inevitable part, as based on this rate your payment amount is decided. Various credit cards are available with different rate. Every time, consumers try to choose a credit card at a lower interest rare.

Most of the time, it is seen that while choosing a credit card, people generally check whether the rate is low or not. But a low rate cannot be the only consideration in availing a credit card. Besides rate, a consumer should heed in other factors as well. Remember, though various credit card companies entice consumers with low interest rates; at the same time, they include various hidden costs and charges with a credit card as well. So, do not only verify the interest rate, but also consider other things while availing a credit card.

Many a time, credit card companies offer low rate for a specific period of time. Such low rates are considered as an introductory offer of various companies. In such cases, check how long the offer will last. After the period is over, verify what the interest rate will be, whether it will be affordable for you or not etc.

In case of rare use, a consumer should try to get the card where no annual or monthly fee is charged. In such cases, if the interest rate is a bit high, still the option will be beneficial.

A person's credit score matters a lot in making the credit card rate pocket friendly. A person with an outstanding credit score can easily get the advantage of low rate credit card. Since the competition among various credit card companies rising; hence, a borrower with a bad credit score can also make the credit card rate pocket soothing. Get all information about it at: http://www.credit-card-gallery.com/low_i nterest_credit_card.html

2007-05-30 18:35:26 by Dan M