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Author: derekdel Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308782  
Subject: Credit Cards Date: 3/1/2008 1:10 PM
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I am 19 and believe I have gotten myself into a little trouble with credit cards. I have about 6, which I understand sounds really bad, but out of those, only two have a balance, and they are on a interest free interim. OK so here they are and the logic behind them. I have a chase card that has 4% back on gas, I use this only for gas and pay it off every month. I have another chase visa that has a apr of 9.99 that I keep with a 0 balance and have it for an emergency use. It has a limit of $500.00. I have a best buy with a $600.00 balance that I pay 250.00 a month to pay off in 6 months for the interest free. I have circuit city that has 0. I have a jcrew with 0. I have a walmart with 500.00 balance that I pay 100.00 a month on I have 18 months no interest. I purchased a new ford fusion 1 year ago, it was 25,000 I ended up paying only 21,000 with tax, took a loan out for 19,000 @1.9% and owe 15,000. I am able to save ample money, and pay all my bills with no problems. I have heard that it is bad to close accounts, so I am affraid to close any of these, I would like to close the jcrew, bestbuy(when paid off in april)and walmart. Should I jut keep them or should I close them, and if so should I allow time inbetween?
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