credit card two part question | TigerDroppings.com

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dischNoutTAspd
LSU Fan
Houston
Member since Nov 2009
909 posts

credit card two part question


I just paid off two credit cards. These two were the only ones I qualified for at the time of my credit history which was almost three years ago.

amazon (chase) card at 22%
barclay card at 22%

I would like to no longer use these two and get one that has a much lower interest rate. I've qualified for capital ones cards at 14% but are there better ones out there for me ? I dont really need the miles rewards as I rarely fly.. just seeing what my best options are

Part two, Should I keep these other two cards "open" ? amazon I only have a 400$ limit but barclay I have 1500$ .. and If i were to close it out what steps do I need to take. I've read closing out credit cards / not using them hurts my credit. Thanks

TL:DR, what card to get since my 22% card is paid off / should I close my high interest card out







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Will Cover
Gonzaga Fan
Nashville, TN
Member since Mar 2007
23895 posts

re: credit card two part question


Why are you interested in getting another credit card when you just admitted to finally paying both off?

What are you hoping to accomplish?



This post was edited on 1/8 at 6:18 pm


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wegotdatwood
Arkansas Fan
Member since Aug 2009
17094 posts

re: credit card two part question


Keep all lines open.





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dischNoutTAspd
LSU Fan
Houston
Member since Nov 2009
909 posts

re: credit card two part question


i just want a card with a lower interest rate.





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BACONisMEATcandy
LSU Fan
My opinions are my own
Member since Dec 2007
40236 posts

re: credit card two part question


Why do you want a low interest rate? You shouldn't carry a balance on a card unless its an emergency





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foshizzle
LSU Fan
Washington DC metro
Member since Mar 2008
28636 posts

re: credit card two part question


quote:

Why do you want a low interest rate? You shouldn't carry a balance on a card unless its an emergency


This. 14% interest is still waaaay too high to carry a balance. It's perfectly fine to keep your current cards so long as you pay everything in full each month.






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saderade
New Orleans Saints Fan
America's City
Member since Jul 2005
20792 posts

re: credit card two part question


quote:

i just want a card with a lower interest rate.

You shouldnt use the card unless you plan on paying it in full every month






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wegotdatwood
Arkansas Fan
Member since Aug 2009
17094 posts

re: credit card two part question


quote:

You shouldnt use the card unless you plan on paying it in full every month








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Vols&Shaft83
Tennessee Fan
Member since Dec 2012
8743 posts

re: credit card two part question


Don't get another card, and stop borrowing money. Stop worshipping at the alter of the FICO score, it's a losers game.

Jesus, these damn kids and their damn credit cards.






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dischNoutTAspd
LSU Fan
Houston
Member since Nov 2009
909 posts

re: credit card two part question


I AIN'T A KID I WORKS AT MCDONALD'S AND MY MOMMA IS PO





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yellowfin
Illinois Fan
Coastal Bar
Member since May 2006
64249 posts

re: credit card two part question


What do you need another credit card for?





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Vols&Shaft83
Tennessee Fan
Member since Dec 2012
8743 posts

re: credit card two part question


You trolling or serious?





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lsu tigerdog
LSU Fan
Baton Rouge
Member since Nov 2007
114 posts

re: credit card two part question


dont close any of your credit cards, if you do your credit scores will drop, 40% of your scores comes from revolving debt. keep a small balance on them and immediatley pay the balance off in full so the interest rate does not effect you.







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