#1
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Quick credit card question
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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Re: Quick credit card question
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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Re: Quick credit card question
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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Re: Quick credit card question
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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Re: Quick credit card question
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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Re: Quick credit card question
[ 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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