Quick credit card question

DosXX · #1 05-25-2007, 06:11 PM

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?

IdealFugacity · #2 05-25-2007, 07:01 PM

Don't switch, just open a new account. There is no reason to close your only other credit card.

Dazarath · #3 05-25-2007, 07:11 PM

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).

Phresh · #4 05-25-2007, 07:28 PM

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.

emon87 · #5 05-25-2007, 08:28 PM

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.

VeryTnA · #6 05-25-2007, 10:03 PM

[ 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.