New Credit Card

I did this last week. My new credit card is showing the balances of the others, but the old credit cards are not showing that they've been paid.

If it has posted to your new account, it should show up on your old accounts within a week or so...call them and ask if there are any transactions posting which may not be showing; you don't want to end up paying interest on both the old and the new accounts. I have done transfers which have posted immediately to the new card, but took over a week on the old card, but when it did post, it was dated back to a day after I initiated the transfer.

2007-07-21 05:37:26 by two_kee_kees

New York Times columnist Ron Lieber finds that there is some cause for concern in the sweeping credit card legislation that passed the Senate on ...

I have 2 credit cards and they're not even that much. I've been paying every month to reduce the balance but after interest charges, it seems to go straight back up. I recently checked my credit score, and it's in pretty OK shape. I know if I get another credit card, my credit limit will be enough to cover for both debts. My plan is to just get a new credit card with no interest for one year and pay them off then cancel my other 2 credit cards.
Is that a safe idea? Will it affect my credit score (negatively) that much to do so?
Thanks.

If you have the option of transferring the balances from the other high interest credit cards to one with o interest for one year then do so.You will be saving a ton of interest payments.Do not however cancel the other two credit cards even if you never use them again in your life.They way they go about calculating your credit score is based on how much credit you actually have versus how much you owe.Every card has a credit amount and it goes up as years go by.

2007-10-11 15:11:44 by Reggie

I requested a new credit card with a lower interest rate than my two cards now with the intentions of paying off the two cards with my new card. The new card credit limit is not enough to pay off the other two, however, so I don't want it anymore. I requested it online, was "approved," and just received it in the mail today. What will happen if I just throw it away without activating it?

if i am not mistaken, it is already tied to your social security number. if you choose not to activate it, nothing happens. contact the credit card company to make sure that they don't issue you another card due to non-activation. Do NOT close the credit card!!!!! Your score will go down by at least 20-30 pts. (my score did so I know what I am talking about)

2008-07-21 10:45:05 by i rock!

I got a new credit card in the mail through an airline. I didn't know I was applying for a card, I thought I was joining the frequent flyer club.

I have not activated the card. I thought about keeping it in a drawer for emergencies, but the interest is outrageous, so I want to cancel it. If I call to cancel, will that show up on my report as a closed credit card account, or would it not show up at all because I never activated or used the card?
Earlier this year, I paid off all of my credit cards and have not had an active card for 5 years. I recently got a new card with ample credit and a decent rate. Because I'm a recovering spend-a-holic. I'm fearful of having too much credit available.
To answer your question Laissez-Faire Guy, I, too agree that the activation is a scam. When I activated my other card, it was an automated process, then they patch you to a "customer service person" who wants you to buy additional services. It was hilarious b/c he was foreign and reading a script. After I kept saying no, he read the end of his script so fast, he sounded like a disclaimer in a car commercial.

Everything that you do with your accounts has the possibility
of effecting your credit score which is different than your actual credit. Your credit score is a calculated value, where your credit is the amount that you can actually borrow.

Congratulations on getting rid of your credit card debt. Now that you have that accomplished the last thing that you want is to go and run up more credit card debt and go right back in the hole that you worked so hard to get out of. What is important? A couple of point bump in your credit rating or getting rid of a potential risk to rack up more debt.

I applaud you for getting rid of your credit cards and I hope that you will use a good budget to keep yourself out of more credit card debt.

2007-08-28 16:04:49 by Lele44

Let's say your credit card has an expiration date of April 2009. Next month you receive a new credit card from your bank. Does the new one have the same number than the old one? Or do you usually receive a completely new one.
Thanks.

Usually, but not always, it is the same number.

2009-04-21 06:02:07 by felipe s