Comments for Ask Mr Credit Card's Blog http://www.askmrcreditcard.com/creditcardblog Latest Credit Card News, Reviews and Information Sun, 20 Jul 2008 14:12:39 +0000 http://wordpress.org/?v=2.5.1 Comment on How to Tell if a Credit Counseling Service is Legit by Carnival of Financial Planning #8 - Cute Kitten Edition | Financial Learn http://www.askmrcreditcard.com/creditcardblog/how-to-tell-if-a-credit-counseling-service-is-legit/#comment-76782 Carnival of Financial Planning #8 - Cute Kitten Edition | Financial Learn Sun, 20 Jul 2008 04:53:02 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=551#comment-76782 [...] Credit Card presents How to Tell if a Credit Counseling Service is Legit? posted at Ask Mr Credit [...] [...] Credit Card presents How to Tell if a Credit Counseling Service is Legit? posted at Ask Mr Credit [...]

]]> Comment on American Express Platinum Card by Quintero Pitts http://www.askmrcreditcard.com/creditcardblog/americanexpressplatinumcard/#comment-76763 Quintero Pitts Sat, 19 Jul 2008 19:22:35 +0000 http://askmrcreditcard.com/creditcardblog/americanexpressplatinumcard/#comment-76763 Im 20 years ol and I have AMEX Platinum AMEX Optima Platinum, and Blue Cash Cards. I usle these regualry and carry a balance of $300 overall. EGO: As for ego, when a 20 year old pulls out an American Express platinum, the retailers give me the crazy look like I am crazy, and I drive an 2007 Cadillac XLR so if they see me get in my car they go really wild. I am not rich, I am a private financial consultant and active duty military. I teach people how to make money with no money they and balance budgets. to secure your financial future. TIP of Day: SAVE 25% of income per year! If anyone has questions, contact me at quintero.pitts@sbcglobal.net Im 20 years ol and I have AMEX Platinum AMEX Optima Platinum, and Blue Cash Cards. I usle these regualry and carry a balance of $300 overall.

EGO:

As for ego, when a 20 year old pulls out an American Express platinum, the retailers give me the crazy look like I am crazy, and I drive an 2007 Cadillac XLR so if they see me get in my car they go really wild.

I am not rich, I am a private financial consultant and active duty military. I teach people how to make money with no money they and balance budgets. to secure your financial future.

TIP of Day: SAVE 25% of income per year!

If anyone has questions, contact me at quintero.pitts@sbcglobal.net

]]> Comment on The FICO® Score Breakdown by Jenna http://www.askmrcreditcard.com/creditcardblog/the-fico-score-breakdown/#comment-76720 Jenna Fri, 18 Jul 2008 22:47:31 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=537#comment-76720 Christine and Ben, Thank you for your questions. We will answer them next week. One on Monday, and one on Wednesday, so check back! Christine and Ben,

Thank you for your questions. We will answer them next week. One on Monday, and one on Wednesday, so check back!

]]> Comment on The FICO® Score Breakdown by Ben http://www.askmrcreditcard.com/creditcardblog/the-fico-score-breakdown/#comment-76707 Ben Fri, 18 Jul 2008 19:36:05 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=537#comment-76707 I have a credit card account with a credit line of 20K that I opened with a 0% balance transfer for 15 months. I just paid off the card with another balance transfer offer with similar terms and will be paying off the loan by the time the 0% interest ends. I have an excellent credit and have a couple of other credit cards with no preset spending limit that I use regularly but never carry a balance. My questions: 1.) Should I close my first balance transfer account which now has no balance? 2.) Should I close my second account once the balance has been paid off? 3.) I have a couple of Visa/MasterCard type of charge cards that have very small credit lines and do not intend on ever using them. Should I close them out? 4.) I have several store cards that I opened only to take advantage of their initial purchase discounts (i.e. JC Penney, Old Navy, etc.) and do not typically use them--I want to close the accounts so I can take advantage of discounts by opening new accounts after 6 months if I choose to. Should I close out the accounts? Thank you in advance for your reply. Ben I have a credit card account with a credit line of 20K that I opened with a 0% balance transfer for 15 months. I just paid off the card with another balance transfer offer with similar terms and will be paying off the loan by the time the 0% interest ends. I have an excellent credit and have a couple of other credit cards with no preset spending limit that I use regularly but never carry a balance.

My questions:

1.) Should I close my first balance transfer account which now has no balance?

2.) Should I close my second account once the balance has been paid off?

3.) I have a couple of Visa/MasterCard type of charge cards that have very small credit lines and do not intend on ever using them. Should I close them out?

4.) I have several store cards that I opened only to take advantage of their initial purchase discounts (i.e. JC Penney, Old Navy, etc.) and do not typically use them–I want to close the accounts so I can take advantage of discounts by opening new accounts after 6 months if I choose to. Should I close out the accounts?

Thank you in advance for your reply.

Ben

]]> Comment on Bad Credit Balance Transfer Credit Card by Danny Spears http://www.askmrcreditcard.com/creditcardblog/badcreditbalancetransfercreditcard/#comment-76692 Danny Spears Fri, 18 Jul 2008 15:42:56 +0000 http://askmrcreditcard.com/creditcardblog/badcreditbalancetransfercreditcard/#comment-76692 I see a lot of people who have sub 600 scores buried high interest rates. If you are below 600, it is very difficult to find a credit card that will allow you to transfer a balance. My advice is to make a list of yoru credit cards and find out which is hitting you the most with interest. Once that is decided, pay that card down as much as you can each month. I see a lot of people who have sub 600 scores buried high interest rates. If you are below 600, it is very difficult to find a credit card that will allow you to transfer a balance. My advice is to make a list of yoru credit cards and find out which is hitting you the most with interest. Once that is decided, pay that card down as much as you can each month.

]]> Comment on The FICO® Score Breakdown by Christine http://www.askmrcreditcard.com/creditcardblog/the-fico-score-breakdown/#comment-76688 Christine Fri, 18 Jul 2008 13:29:50 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=537#comment-76688 I have a FICO score of 824. I have credit card debt totalling 27,000. I would like to get a personal loan for 30,000(I found a good offer with a low rate and no pre payment penalties) and pay it all off. I would not get rid of my cards but I wouldn't use them either. Will paying these off hurt my score? I have a FICO score of 824. I have credit card debt totalling 27,000. I would like to get a personal loan for 30,000(I found a good offer with a low rate and no pre payment penalties) and pay it all off. I would not get rid of my cards but I wouldn’t use them either. Will paying these off hurt my score?

]]> Comment on Why Store Credit Can Be a Bad Idea by Jenna http://www.askmrcreditcard.com/creditcardblog/why-store-credit-can-be-a-bad-idea/#comment-76631 Jenna Thu, 17 Jul 2008 19:29:59 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=547#comment-76631 Richard Thanks for your comment! I do agree that sometimes store cards can offer nice rewards. Now some stores are even coming out with Visa and Mastercard “Store Cards” that allow you to charge anywhere while earning rewards at those stores. That might be a different ballgame - something I’m going to have to investigate. Thanks for stopping by and giving us your opinion! Richard

Thanks for your comment! I do agree that sometimes store cards can offer nice rewards. Now some stores are even coming out with Visa and Mastercard “Store Cards” that allow you to charge anywhere while earning rewards at those stores. That might be a different ballgame - something I’m going to have to investigate.

Thanks for stopping by and giving us your opinion!

]]> Comment on Why Store Credit Can Be a Bad Idea by Richard @ Student Scrooge http://www.askmrcreditcard.com/creditcardblog/why-store-credit-can-be-a-bad-idea/#comment-76619 Richard @ Student Scrooge Thu, 17 Jul 2008 14:50:44 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=547#comment-76619 I agree that store credit cards are generally a bad idea -- the modest potential savings may be outweighed by the costs to your credit report and what not. That being said, I think there are certain circumstances when a store card can make sense, particularly when you're frequently spending a significant amount of money at one merchant, as the store card can *sometimes* offer better rewards at that store than you'd be able to get with any other cash-back/rewards credit card, plus these cards sometimes have worthwhile coupons. Anyway, I agree with your bottom-line advice to think carefully about opening a store credit card. I agree that store credit cards are generally a bad idea — the modest potential savings may be outweighed by the costs to your credit report and what not. That being said, I think there are certain circumstances when a store card can make sense, particularly when you’re frequently spending a significant amount of money at one merchant, as the store card can *sometimes* offer better rewards at that store than you’d be able to get with any other cash-back/rewards credit card, plus these cards sometimes have worthwhile coupons.

Anyway, I agree with your bottom-line advice to think carefully about opening a store credit card.

]]> Comment on Reader Question: A Collection Company Sold My Debt After It Was Paid Off by Finance Fiesta #7: Mamma Mia Edition | LivingAlmostLarge http://www.askmrcreditcard.com/creditcardblog/reader-question-a-collection-company-sold-my-debt-after-it-was-paid-off/#comment-76616 Finance Fiesta #7: Mamma Mia Edition | LivingAlmostLarge Thu, 17 Jul 2008 13:55:28 +0000 http://www.askmrcreditcard.com/creditcardblog/?p=549#comment-76616 [...] Credit Card from Ask Mr Credit Card answers a question from a reader “A Collections Company Sold my Debt After it was paid off.”  This explains in detail the steps to take when your debt has been sold off and you have [...] [...] Credit Card from Ask Mr Credit Card answers a question from a reader “A Collections Company Sold my Debt After it was paid off.”  This explains in detail the steps to take when your debt has been sold off and you have [...]

]]> Comment on Chase Prestige Credit Card Upgrade? by Catherine T http://www.askmrcreditcard.com/creditcardblog/chase-prestige-credit-card-upgrade/#comment-76545 Catherine T Wed, 16 Jul 2008 19:39:48 +0000 http://askmrcreditcard.com/creditcardblog/chase-prestige-credit-card-upgrade/#comment-76545 "Chase Prestige" and Chase Bank aren't affiliated, even though they want you very much to think so. According to their own fine print, "(c) 2008 The Reunion Group is the exclusive provider of Chase Prestige Card Services and assumes responsibility for the provision of, or failure to provide, services. Chase and The Reunion Group are not affiliated." Seems like old school (via snail mail) phishing to me! “Chase Prestige” and Chase Bank aren’t affiliated, even though they want you very much to think so. According to their own fine print, “(c) 2008 The Reunion Group is the exclusive provider of Chase Prestige Card Services and assumes responsibility for the provision of, or failure to provide, services. Chase and The Reunion Group are not affiliated.” Seems like old school (via snail mail) phishing to me!

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