[KWorker17]

Originally Posted by M3Dom

go buy captain crunch peanut butter and original cereal and mix them together and add milk its awesome just awesome GL OP

captain crunch cuts the roof of my mouth....any other sugestions?

[440HPE46]

40% of your score is due to credit history...

Another 30% is due to credit utilization...

Vivid's posts are great...keep it open...

Just an FYI, the rate they are giving you on the second card is due strictly to the fact that it is a second open credit line with them (risk factor)...

[KWorker17]

Originally Posted by 440HPE46

40% of your score is due to credit history...

Another 30% is due to credit utilization...

Vivid's posts are great...keep it open...

Just an FYI, the rate they are giving you on the second card is due strictly to the fact that it is a second open credit line with them (risk factor)...

If I decided to get the second card, what are the chances of the rate going down over the next few months? I've always like BofA and their customer service has always been good to me, so I was kind of looking to stick with them.

[Rac'nmyT/A]

You seem to have gotten some sound advice from Vivid. Keep the card, utilize it for gas groceries etc and pay it off monthly. Nothing wrong with having several credit cards either, especially the ones that offer rewards, i.e gas cards, airline points rewards, cash back rewards and such. Use them to pay your home/car insurance, utility bills and the like.

The more credit you have and pay off over long term, will strengthen your fico scores over time and it will increase your likely hood for larger future loans. Creditors will see that you have had utilized your available credit and were able to pay it back, on time that is!! GL!

[440HPE46]

Originally Posted by KWorker17

If I decided to get the second card, what are the chances of the rate going down over the next few months? I've always like BofA and their customer service has always been good to me, so I was kind of looking to stick with them.

Did their rep tell you 12 months??? It really won't matter if you use it and immediately pay it off over that time period...

[SC_TR0JAN_M3]

this thread was actually rather helpful as i've had one credit card with no balance for a few years now & i was never really sure if it hurt or helped my credit score. i have been diligent in tracking my score periodically through the year, and i'm glad to say that it remained quite constant (high 700's).

[kkamakasi]

So I have a question.

Back in college, they were doing this promo to get students to sign up for credit cards..

So I signed up a few times to get the promo items they were giving away. I never actually activated the cards and never used them.

This shouldn't reflect negatively on my credit score right?

[vivid]

Originally Posted by kkamakasi

So I have a question.

Back in college, they were doing this promo to get students to sign up for credit cards..

So I signed up a few times to get the promo items they were giving away. I never actually activated the cards and never used them.

This shouldn't reflect negatively on my credit score right?

the fact that you applied and were approved for said cards means your credit must have been hard checked. Hard Checks do negatively impact your credit score but not much and don't last too long.

Now the question is, "are those lines showing up on your credit report"?

You should get your free credit report, which shows all of your history and you can get one copy a year free from each agency. Google free annual credit report. This will not give you your credit score, just your report/history which you can check to see if there are any inaccuracies and activity. You should do this every year just to make sure there is nothing on there that should not be.

Depending on if the lines are still open and how long you've had them, it could be great for your credit score showing good history, increasing your credit utilization and no late payments or other negative issues.

You can use the links I provided earlier to get an idea of your credit score for free or you can pay for your FICO, don;t pay for anything but FICO. I personally do not pay for FICO.

but to sum up.... if the banks have closed the lines then yes you credit would have taken a hit when you applied for the cards... If the cards are still open then yes your credit would have take a hit when opened but within a year or two your score would have increased have increased and more every year opened.


remembered never close your oldest credit line... Age of credit lines is a big factor in your score.

[M3Dom]

Originally Posted by KWorker17

captain crunch cuts the roof of my mouth....any other sugestions?

cinnamon toast crunch ftmfw

[Hu///mmell]

We used to use our BofA check cards for our purchases and had no credit cards at all. Now we use American Express exclusively for all purchases and pay it off each month.

There area a lot of incentives for using the AMEX. It's a no brainer.