UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev | Next
Author: BLE103 Two stars, 250 posts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 311073  
Subject: Re: NextCard/Aggravation Date: 5/27/2001 8:39 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
You have made a big mistake by closing your 2 other credit cards!Why?Because you have much less availiable credit,and this causes big problems with any creditor.If anyones is over 70% of total availiable credit used your creditor in return will raise your interest rates up because you look overextended too them!Now you are going to have trouble for the time being if you only have nextcard,and no other accounts availiable to transfer a balance with.If you have just closed the 2 cards recently you would want to apply for another account right away before your credit file shows the 2 accounts closed,otherwise you are going to have a tuff time getting a new card until you pay your balance down to 50% of total availiable credit used.You may want to reopen the 2 cards that you have just closed just to keep your debt to credit limit ratio low.Others out there will offer their advice to on this matter.
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (10) | Ignore Thread Prev | Next


TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.