Time to reduce the amount of credit to improve her score! We called customer service to cancel the card and while we were going through the process, I remembered that we shouldnt cancel the card because your length of credit history affects your score. This card was about 12 years old, which is on line free credit report Macon a very good age to keep on your credit. Well, it turns out credit on line free credit report Macon card companies dont like to lose customers, so they transferred us to a CSR intent on keeping us as customers. In the end, we kept the card open and had it switched to the Discover® More® Card which offers great rewards benefits. The Discover Card rep offered to lower the credit limit to $1,000, which is the minimum line of credit you can have. This helped lower on line free credit report Macon her available credit limit and should help improve her credit score.
The last time on line free credit report Macon I checked was a couple years ago when I bought my car. My wife hasnt checked hers in about the same amount of time, when she got a mortgage. One of the reasons Ive written about credit scores so often lately is because I knew I needed to on line free credit report Macon check ours, and I was interested in learning about it. where to get a free credit report Related Articles:
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He is a on line free credit report Macon writer, small business owner, entrepreneur, and professional in the corporate world.
He served over 6 years in the USAF and also writes about military money topics at The Military Wallet. Free updates! Do on line free credit report Macon you like what you're reading? Then please consider leaving a comment below, subscribing to our RSS feed, or signing up for our FREE newsletter. monitoring credit report 29 comments read them below or add one Ive got a good credit score, and ive only got two open credit cards. Granted, theyve both been open for probably 6-10 years. I was thinking on line free credit report Macon about canceling one of them, and probably will. At this point for me I cant even think of a good reason to keep it open. It may hurt my credit score a little bit, but on line free credit report Macon at this point Im not sure i care that much.
We own both our cars, we own our house, and we cant conceive of needing to use credit any time in the near future.
We pay cash for everything now, and weve got 6 months of expenses in our high yield savings account. The credit score in my opinion is more important for people who plan on taking out more loans in the near future, and Im not planning on doing that.
Ive canceled a couple other unused cards as well, but I wish I on line free credit report Macon hadnt closed the card I did because that was my longest running line of credit. I don think it will hurt me in the long run though. In your situation, it probably wont hurt to close a card. I do recommend keeping at least one card though, for emergencies or rewards. Another option is to keep a line open instead of closing on line free credit report Macon it, but have the limit reduced to the lowest possible. your free credit report Either way, with no outstanding debt and a clean history, on line free credit report Macon your credit score is probably very good. I havent canceled my longest standing (or my wifes longest standing) credit cards for just that reason.
We never use them, but they give our credits a nice long history. I am in the process of canceling some unnecessary cards that weve only had for 4 or 5 on line free credit report Macon years, though. For example, we switched our insurance companies and no longer need the rewards card that we were using to pay our insurance through. To illustrate on line free credit report Macon the point we ran a correlation of credit scores by the age of our users and you can clearly see that on line free credit report Macon younger people have lower scores on average.
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