News:

Already planning a hunger strike against the inhumane draconian right winger/neoliberal gun bans. Gun control is also one of the worst forms of torture. Without guns/weapons its like merely existing and not living.

Main Menu

ATTN: CORPORATE FINANCIAL SPAGS

Started by LMNO, September 01, 2009, 05:57:39 PM

Previous topic - Next topic

Suu

Quote from: LMNO on September 01, 2009, 07:56:26 PM
As far as credit reports go, would it be a good idea to keep the account open after paying off the balance?

Yes and no. If you don't want to use the card, just get rid of it.
Sovereign Episkopos-Princess Kaousuu; Esq., Battle Nun, Bene Gesserit.
Our Lady of Perpetual Confusion; 1st Church of Discordia

"Add a dab of lavender to milk, leave town with an orange, and pretend you're laughing at it."

LMNO

Well, that's already been done. 

So, it seems my best plan is to pay off the balance as always, and when it is paid off, not cancel the account.

The Good Reverend Roger

Quote from: LMNO on September 01, 2009, 08:06:16 PM
Well, that's already been done. 

So, it seems my best plan is to pay off the balance as always, and when it is paid off, not cancel the account.

Monitor it.  It may accumulate "fees".
" It's just that Depeche Mode were a bunch of optimistic loveburgers."
- TGRR, shaming himself forever, 7/8/2017

"Billy, when I say that ethics is our number one priority and safety is also our number one priority, you should take that to mean exactly what I said. Also quality. That's our number one priority as well. Don't look at me that way, you're in the corporate world now and this is how it works."
- TGRR, raising the bar at work.

LMNO


leln

Quote from: LMNO on September 01, 2009, 08:06:16 PM
Well, that's already been done. 

So, it seems my best plan is to pay off the balance as always, and when it is paid off, not cancel the account.

Watch out, the bank might cancel the account unexpectedly if you're not using it, so you might want to have them send you a new card. Then charge something small every couple of months so they don't close it on you-that way your credit score won't drop when your potential for debt goes down (financial types, please correct this statement if it's inaccurate). Someone at my work took a hit to his credit score because he had several unused credit cards that were suddenly canceled on him.
[initially a "Rabid Wombat of the Eastern Intertubes." Now the] Glorious Peoples' Revolutionary Wombat of Wrath and Righteous Retribution.

"If you speak out of turn again, I will unscrew your neckpipe and use the resulting hole for my lavatory.  And I have one fuck of a case of the squirts today."

LMNO

Oh, FUCK THAT.

Those fuckers are worse than the Cosa Nostra.

Sir Squid Diddimus

Call and close the account.
It won't report negatively if you close it. Make sure you say close and not cancel.


Don't ignore it. It won't go away and they may start charging "monthly maintenance fees"

LMNO

Cool.  Good call.

I'll make sure those fucker record it.  Or is a notarized letter a better idea?

Mesozoic Mister Nigel

Quote from: LMNO on September 01, 2009, 07:56:26 PM
As far as credit reports go, would it be a good idea to keep the account open after paying off the balance?

Having too many open accounts lowers your credit rating, but if you only have a few and it's paid off and there's no fees associated with the account, there is no harm in leaving it open.
"I'm guessing it was January 2007, a meeting in Bethesda, we got a bag of bees and just started smashing them on the desk," Charles Wick said. "It was very complicated."


Shibboleet The Annihilator

Quote from: LMNO on September 01, 2009, 05:57:39 PM
If I let my credit card naturally expire, does that count the same as cancelling it on my credit report?

Googling this doesn't help.

No.