Also, when buying, if you are worried about the amount of total debt you have available, I had several of my cards lower my limit before I did the mortgage pre-approval.
Huh. I thought it was better to be using a smaller percentage of your available credit. Why must conceptual money be so complicated?
Huh. I thought it was better to be using a smaller percentage of your available credit. Why must conceptual money be so complicated?
I have heard that as well, but I have no idea if it is actually true.
also, I got the idea somewhere that longevity in credit card account holding was good, and that the more accounts that were open, the more it lowered your credit score. I could be wrong. Like aurelia said, conceptual money is confusing.
I got the idea somewhere that longevity in credit card account holding was good, and that the more accounts that were open, the more it lowered your credit score.
See, that's what I thought, too.
I've known Joan was into women for ages, but this is the first I've heard about Carmen Electra switching teams. The straight boys will be pleased.
I've also heard that there's a positive correlation between the amount of credit you don't use and your credit score. So high limits are good if you don't use them.
I got the idea somewhere that longevity in credit card account holding was good, and that the more accounts that were open, the more it lowered your credit score. I could be wrong. Like aurelia said, conceptual money is confusing.
I have this idea also. But no hard evidence to back it up.
I keep wanting to post advice about credit strategy in the face of a potential mortgage application, but then I keep remembering that I'd totally be talking out of my ass.
I am sorry. I am probably all wrong. I thought it was what had been told tome, but it is not as if I actually read a book or anything.
I never knew longevity mattered - seems silly when switching is sometimes the only way to lower an APR.
Improving your credit score: [link]
My sole fight with my mother this weekend came about when she was reminiscing about when I was 16 and "such a handful."
Mine has yet to let go of the time I hid in a department store. I was three.