Just as a heads up, you dont need to carry a balance and be charged interest - you can pay off your cards each month, and thus never accumulating interest, and still have an improved score; simply pay the statement balance before the due date
If you’re doing that you have zero need to bow to any single credit card company.
I don’t even read 90% of the credit card offers I get, I have plenty of cards, and they are all at zero. Go ahead, cancel me. I’ll have a new one in 15 minutes.
I wish this were true, but I have personally seen my credit score go down when I finished paying off accounts like car loans. A FICO credit score is a measure of how profitable a customer you are, not how likely you are to pay it back. Credit cards are a particularly expensive way to do this, but lemme assure you that taking out a mortgage will do wonders for your score.
Just as a heads up, you dont need to carry a balance and be charged interest - you can pay off your cards each month, and thus never accumulating interest, and still have an improved score; simply pay the statement balance before the due date
I’ve seen people have their cards cancelled for doing this. Rare, but not unheard of.
If you’re doing that you have zero need to bow to any single credit card company.
I don’t even read 90% of the credit card offers I get, I have plenty of cards, and they are all at zero. Go ahead, cancel me. I’ll have a new one in 15 minutes.
I wish this were true, but I have personally seen my credit score go down when I finished paying off accounts like car loans. A FICO credit score is a measure of how profitable a customer you are, not how likely you are to pay it back. Credit cards are a particularly expensive way to do this, but lemme assure you that taking out a mortgage will do wonders for your score.
Yes, i was talking about revolving credit