[Show all top banners]

jire_khursani
Replies to this thread:

More by jire_khursani
What people are reading
Subscribers
:: Subscribe
Back to: Kurakani General Refresh page to view new replies
 Cancelling Credit Card
[VIEWED 4966 TIMES]
SAVE! for ease of future access.
Posted on 01-23-08 9:14 PM     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Hey Guys,

I have 5 credit cards. Some cards have higher APR. I wanna cancel those cards having high APR. If I cancel the cards does it effect to my credit score and in my career ? Any help would be appreciated.

thanks,

jire_khursani


 
Posted on 01-23-08 9:27 PM     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Don't cancel your older credit cards as that can negatively affect your credit score.  Listen, cancelling ANY cards you have could do some/little harm if you have a history of good payments with those companies (Its like you lose that entire good history with that card once you cancel the card which can affect your score).  What I'd advise is for you not to apply to any more cards but rather just spend a few dollars regularly on each card and pay off the balance in FULL at the end of each cycle.  This shouldn't be too hard considering that you can schedule online payments for free these days from almost every bank now.  Also, try not to keep your credit cards from rotting on your report.  Cancel those which have never been used and those you used for the last time atleast 2 years ago. 

And finally, monitor your score as in the US, you need to look at yourself as an investment (eg: a Bond).  The greater your rating the more you could end up borrowing (for a house, car, business, etc.).  Start building your credit positively and it could help you a lot tomorrow.


 
Posted on 01-23-08 9:33 PM     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

jire,
cancelling or closing your credit cards does affect your credit score but not your career. the best thing to do for you
1. do not close many cards all at once, do it one at a time over a period of several months (one every 3 months or so)
2. use your credit cards as much as you can but PAY OFF your full balance every month (if you can)

and watch your credit score improve.

 
Posted on 01-24-08 4:56 PM     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Any more opinion???


 
Posted on 01-24-08 5:10 PM     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

i have paid and stopped using 4 of my cards. APR lageko card kina bekar ma use garnu bhanera. I still have 2 cards that i am using. As soon as i am able to pay them off(not very soon), i will never use these sucking cards. Life nai barbad parcha yo credit card le, history ko barema sochera k huncha!

Ani arko kura, I was using those credit cards regukarly, paying back more than once in 1 month, had home phone in my name, was paying it on time. But what happened, My score is still just above 600. Ane maile soche, why I need score for now? I have no planning home within 3-4 years, 3-4 years car pani kindina. Why do I need score?

If you wanna make your life easy, don't go for credit card unless u need it really. Kamayo kharcha garyo, jhanjat nai sakiyo...


 
Posted on 01-24-08 5:22 PM     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Keep the older cards and high Credit limit ones, you don't need more opinions, just do it....., good luck
 
Posted on 01-30-08 1:20 PM     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Thanks guys, appreciated your help.

 


 
Posted on 04-23-16 2:45 PM     [Snapshot: 1503]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

@jirekhursani: another option would be to freeze your credit card account. I know some credit card company like discover allow you to freeze up the account in that way you won't use it again or even if you wanna use it again; you can unfreeze to bring them back up.
I hav actually cut those cards so that i wont use it again and i would check the balace of those cards once a month if there is any unauthorized use of my credit card. Thats what I do primarily....
 


Please Log in! to be able to reply! If you don't have a login, please register here.

YOU CAN ALSO



IN ORDER TO POST!




Within last 90 days
Recommended Popular Threads Controvertial Threads
TPS Re-registration
What are your first memories of when Nepal Television Began?
निगुरो थाहा छ ??
Basnet or Basnyat ??
Sajha has turned into MAGATs nest
NRN card pros and cons?
Will MAGA really start shooting people?
Democrats are so sure Trump will win
मन भित्र को पत्रै पत्र!
Top 10 Anti-vaxxers Who Got Owned by COVID
TPS Work Permit/How long your took?
काेराेना सङ्क्रमणबाट बच्न Immunity बढाउन के के खाने ?How to increase immunity against COVID - 19?
Breathe in. Breathe out.
3 most corrupt politicians in the world
Dementia Joe has been selected to become the next President
Trumpism project 2025 everyone should read https://www.project2025.org/
आज बाट तिहारको सेल सकियो
चितवनको होस्टलमा १३ वर्षीया शालिन पोखरेल झुण्डिएको अवस्था - बलात्कार पछि हत्याको शंका - होस्टेलहरु असुरक्षित
शीर्षक जे पनि हुन सक्छ।
Disinformation for profit - scammers cash in on conspiracy theories
Nas and The Bokas: Coming to a Night Club near you
NOTE: The opinions here represent the opinions of the individual posters, and not of Sajha.com. It is not possible for sajha.com to monitor all the postings, since sajha.com merely seeks to provide a cyber location for discussing ideas and concerns related to Nepal and the Nepalis. Please send an email to admin@sajha.com using a valid email address if you want any posting to be considered for deletion. Your request will be handled on a one to one basis. Sajha.com is a service please don't abuse it. - Thanks.

Sajha.com Privacy Policy

Like us in Facebook!

↑ Back to Top
free counters