Credit Card Questions and Questions About Ordering Something Online! (pay, checking account, increase)
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1.When would it be a good time to ask your credior to increase your credit card limit?
2.I keep on hearing that you should cut up the plastic, but should you really when it comes to future car loan and a future mortgage?
3. When you order something online, can you pay it off straight from your checking account? It is because there are things that cost more than my credit card limit of $500 USD!
To help increase your credit score you should use cards but pay them off as much as possible. So if you have a few cards, use them all, but only for maybe one transaction a month (except your main card(s)) then pay them off. The credit score you have will show all cards and all on time payments, so the more on time payments you have will improve your credit.
If you maintain a good payment record, most card companies will automatically increase the CL (credit limit). If you have cards that have a long history, then those cards I would keep as the payment history would play a role when it comes to applying for a mortgage. Newer cards that are just open I probably would do away with if you don't need them.
As for online ordering, if you have a debit card linked with your checking account, and have enough to cover whatever you are purchasing then yes that will work just fine using the debit card, and the best part is there is no debt afterward. Low level credit cards can be a pain, and somewhat useless when it comes to some purchases, especially if its a need.
3. When you order something online, can you pay it off straight from your checking account?
Of course you can. Print out an order form from the website, fill in the pertinent information, write a check, stick it in an envelope, and drop it in the mail. Or, as someone already mentioned, you can use a debit card.
Please don't think I'm ridiculing you, because I'm definitely not, but something about this question brought back a conversation with my young son. A few weeks ago, we dropped off my car to be serviced and picked up a rental car. It was a very cheap, econo-box with manual everything. About half-way home, a small voice came from the backseat, "Mom, what's this thing that goes round and round?" Huh? I turned around. It was the handle for rolling down the window. He'd always ridden in cars with electric windows. After I got over a short fit of laughter, I suddenly felt very old... and very privileged.
Similarly, I just realized that many people reading this thread have never used snail mail to place a catalog order. We don't even think of it as a possibility anymore. Life changes so fast.
Last edited by formercalifornian; 03-01-2010 at 11:07 PM..
1.When would it be a good time to ask your credior to increase your credit card limit?
2.I keep on hearing that you should cut up the plastic, but should you really when it comes to future car loan and a future mortgage?
3. When you order something online, can you pay it off straight from your checking account? It is because there are things that cost more than my credit card limit of $500 USD!
#1. A good time is after having a credit card that you uses throughout the past 12 months with history of charges and paying at least the min every month. Every credit card will allow you to manage your account online and most will have an option to request for increase in credit. Some use soft inquiries while other does the hard pull. You can call a CS and ask for a credit increase but ask what type of inquiries s/he is going to do first.
#2. If you are trying to establish credit because you are young, having a small limit credit card that you use and pay off is not a bad idea. Just charge only what you can pay off at the next billing cycle. This is why it's a good idea to keep the CL small so that you don't get buried in debt.
#3. A lot of online vendor will have various methods of payment. Bill me later, paypal maybe an option. You can always get a visa check card if you are going to use your checking account.
1.When would it be a good time to ask your credior to increase your credit card limit?
2.I keep on hearing that you should cut up the plastic, but should you really when it comes to future car loan and a future mortgage?
3. When you order something online, can you pay it off straight from your checking account? It is because there are things that cost more than my credit card limit of $500 USD!
1. Good question. I hear credit card companies are not into doing that these days, though.
2. Well, lenders got stuck to the teat known as FICO all these years. Someone else will find a way to loan you money if they want your business bad enough. Or know people--a friend of mine is a car dealer AND a landlord. Usually, that is the less expensive method.
3. You will have to find someone that takes check by phone.
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