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#1
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I am 22 and only have one credit card I've always paid the balance on each month since I was 18. Its a citi card. If I want to "switch" to another type of citi card, will that close my old account and open a new one (bad). Or will it maintain all the account information and act like there was never any difference (good).
To clarify, I want to keep this credit line open as long as possible, because, from what I understand, that is good for your credit. If I want a new citi card, is it best to "switch" my type of card or to open a whole new account? |
#2
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Don't switch, just open a new account. There is no reason to close your only other credit card.
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#3
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DosXX, I actually have a Citi card which I switched from PremierPass to Simplicity. But I don't really know how to check which of the two situations it would cause. If you give me a way to check, I'll do so. I'm not sure I have access to old statements from 2 years ago (which is when it says I was a member since).
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#4
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I'm not the most qualified person to answer (I'm only 19 and have one credit card) but I'm pretty sure you should keep the current account open and create a new one.
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#5
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Just open a new one, and then use it 99% of the time. Use the old one 1-2 times a year so you avoid an inactivity fee or cancellation.
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#6
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[ QUOTE ]
want to keep this credit line open as long as possible, because, from what I understand, that is good for your credit. [/ QUOTE ] You are correct. Unused credit has a positive effect on your credit score. Having 3 or 4 cards if fine. Keep two an emergency. Use the other two, but don't let the balances go over 50% of the limit. PAY ON TIME FOR A LONG TIME is the best way to get and maintain good credit. |
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