Comments on: Building Your Credit History http://www.thecreditcarder.com/building-your-credit-history/ Make Credit Cards Work For You Tue, 10 Aug 2010 03:48:31 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: TheCreditCarder http://www.thecreditcarder.com/building-your-credit-history/comment-page-1/#comment-63 TheCreditCarder Thu, 09 Oct 2008 07:21:08 +0000 http://www.thecreditcarder.com/?p=82#comment-63 That wouldn't help your score *that* much, so I wouldn't bother. Having the cards in itself doesn't help your score so much as having the history. As for the negative affect on your credit score: your FICO score can be hit for somewhere around 15 points for every 'hard-pull' on your credit (which most companies do when you apply for their card...unless you already have another card with them). It is usually back to normal within three to six months though. That wouldn’t help your score *that* much, so I wouldn’t bother. Having the cards in itself doesn’t help your score so much as having the history.

As for the negative affect on your credit score: your FICO score can be hit for somewhere around 15 points for every ‘hard-pull’ on your credit (which most companies do when you apply for their card…unless you already have another card with them). It is usually back to normal within three to six months though.

]]> By: Rob http://www.thecreditcarder.com/building-your-credit-history/comment-page-1/#comment-62 Rob Thu, 09 Oct 2008 06:08:00 +0000 http://www.thecreditcarder.com/?p=82#comment-62 How about the idea of applying for a bunch more and not using them? It would decrease my credit score at first, but for how long? How about the idea of applying for a bunch more and not using them? It would decrease my credit score at first, but for how long?

]]> By: TheCreditCarder http://www.thecreditcarder.com/building-your-credit-history/comment-page-1/#comment-61 TheCreditCarder Thu, 09 Oct 2008 02:59:18 +0000 http://www.thecreditcarder.com/?p=82#comment-61 Hi Rob. As for unused cards, it's best to just keep them open (as long as they have no annual fee). This helps your credit score because each one contributes to your credit history. Definitely never cancel cards that you've had for a long time, as those are the ones that have a big part in positively affecting your credit rating. Hi Rob. As for unused cards, it’s best to just keep them open (as long as they have no annual fee). This helps your credit score because each one contributes to your credit history.

Definitely never cancel cards that you’ve had for a long time, as those are the ones that have a big part in positively affecting your credit rating.

]]> By: Rob http://www.thecreditcarder.com/building-your-credit-history/comment-page-1/#comment-60 Rob Wed, 08 Oct 2008 18:10:45 +0000 http://www.thecreditcarder.com/?p=82#comment-60 What about having a bunch of unused credit cards? I have some that I use for only a very occasional purchase. They all have $0 balance. Will this effect my credit score in a negative or positive way? What about having a bunch of unused credit cards? I have some that I use for only a very occasional purchase. They all have $0 balance. Will this effect my credit score in a negative or positive way?

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