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Originally Posted by Anus!
hey alen I have a couple questions.
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Damnit bastage, the name is spelled Alan!
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one CC with a $10K limit and I just paid it off. I had about $3K on it consistantly for about 2 or 3 years. buying stuff like camera gear, vacations and then paying like $500 each month. so hopefully that will have helped my rating.
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As I have stated many times, having a balance is better than no balance. And since you have had a balance on it for so long explains your credit score, very nice. I would suggest putting some of a balance on it to continue building your credit score.
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Should I call and have the limit lowered? I like having that limit but I doubt I'd ever need that much. maybe $7500
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This is a smart move. I don't tell people to do this often because chances are the moment I do something tragic happens and they do
But realisticly chances are that you won't and lowering the overall limit is a good way to make a smaller balance look bigger. 1000 balance on a 10K card vs 1000 balance on 7.5K card. The percentage is obviously larger.
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can you have too many bank accounts? the one at the local bank only has like $1K in it because the limit is $750. I use it for expense checks from work, people send me check on my birthday, I get rebate checks...
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This doesn't affect your credit, so it is your personal choice. The only downside I can potentially see is needing to move funds around and intrest. More intrest on larger balances.
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How do the credit places deal with AMEX. no limit and you pay it off every month? if it doesn't help that's fine since their customer service is still great. but if they are hurting me in some way maybe I'll rethink it.
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Amex is the exception to the rule. Since this is how their card works and about 25% of their customers can't pay thier full balance each month you get full credit for just making your payment. It is a very good card and very respected card.
To be continued...