Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
If you are looking to boost your score one of the easy ways to do that is to not have too much out there.If you have 4 CC's with no balances,then cut it to 2.Call the credit card companies you choose not to do business with any longer to cancel those cards.Always leave yourself with a card or 2 though.If you were to apply for loans the line of credit available on the cards actually works against the amount you can borrow from a regular bank.So if you had an available line of credit of $20,000 to charge,if you were to apply for a home loan your maximum amount to borrow would be decreased by a percentage of this amount.It's also a good idea to pull your credit once a year.You are entitled and if you do it yourself directly through the bureaus,it wont effect your score.Make sure it is accurate and that there are no old accounts with negative impacts,you can also dispute false items and have them easily removed which will help too.
I guess a better way to put it is....I want to disassociate with AMEX and Chase because the companies suck :-)
Should I look to get credit with other lenders...or just give up on the 40K in available credit I'll have after paying off the balances??
I would not do something that will hurt yourself to try to make a point to these companies. They will never notice. Keep the card, pay them on time and rejoice in higher credit scores.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
