Answers
I was eligible for a master card and I had applied for it. When I received it, it already had charges of $179 on it for set up fees and that stuff. I didn't like that so I canceled the credit card right away. The person helping me on the other line warned me that rapidly canceling credit cards and accounts would make my credit score go down. Is this true??
I have a debit and credit card with BofA and a Shell card, and canceled the First Premier Bank card that I applied for. Would this harm my credit?
And is there any free sites to check out my credit score free of charge?
Thanks.
First part, yes your score has taken a hit and will now be lower. This is due to 2 things, first, the hard inquiry that was placed on your credit report when you applied for the card,(this remains on your report for 2 years: read the source)
Next you are reducing your debt utalization ratio which is based on how much credit you have available to how much you have used. When you opened the account you had more credit, so depending upon how much you owed on the other accounts, your utalization may have gone down, closing the account raised this utalization to what it was before.
Next part, there is no such thing as a free credit score Some credit card companies used to provide what is called a FAKO score, one that was usually way off but most of those banks went under.
Hope this answers your question.
www.SmallBusinessCreditGuru.co m Testimonial Fred Radloff from Five Star Flooring gives a testimonial for the http credit building product. Do you ...
Renovations, new additions, don't come cheap around here
That said, when we started talking with our friendly neighborhood builder on renovating and putting an additional onto our roughly 100-year-old village colonial in Natick, I frankly had a lower price tag in mind.
I had hoped we could graft a two-story addition onto the back of our house for about $150,000.
When our builder came back with a well-reasoned baseline number of $200,000, it clearly became a choice of rearranging my own cost expectations or dropping the project altogether.
It was not easy, but desperately in need of some additional space and a more functional house, I chose the latter.
The fact is, if we were going to put on a new addition, there were a lot of problems that needed fixing as well with the older half of the house. We had an oil heating system that was on the way out, wiring that dated to the 1920s and a roof that was falling apart. Not to mention warped, ancient, energy inefficient windows.
Credit Card Balance Transfers Not Always the Best Solution ...
Imagine that you've got a $1,500 debt leftover from the holidays (not that big a stretch for some of us, no?).Now imagine that you receive an offer for an 18% interest rate if you transfer your balance from your current card - which has a 30% rate. Should you go for it?
It might seem counterintuitive, but the answer is often no. Even though less interest means less money in theory, creditors can make you jump through expensive hoops to get that lower rate - so expensive that they may cancel any benefits.
High fees can easily erode any savings you would have gained - and in that case, you'd be better off sticking with the higher rate and vowing to pay it off sooner.
Then there's the expiration date to consider. You see, that sweet introductory rate might not last all that long. Sometimes banks will lure consumers with offers of as low as 0% interest for transfers - without making it obvious that the good deal will only last for a year or even a few months. If you don't think you can pay off your debt in the near future, make sure that you know the terms before making a switch. And keep in mind that any special rate will likely be erased the moment you miss a payment.
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