How high can my credit score climb if I have only credit cards in my credit history?


Posted April 4th, 2010 by admin 1 Comment »
credit
Layton asked:


My current credit score is 745 and I’ve built it solely by using credit cards and paying on time (but never had any loans). Somebody told me that the abscence of installement-paid loan will prevent my score from climbing much higher. Is it true? Should I take some consumer loan to boost my credit score since I am planning to apply for a mortgage in the near future?

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Posted in Green Living | 1 Comment »

How do I switch credit cards and not affect my credit score?


Posted November 16th, 2009 by admin 4 Comments »
credit
salena asked:


I want to get a frequent flyer credit card but I already have 3 credit cards with generous limits. I don’t need these credit cards and I would like to cancel them and have this “possible credit” to go towards the new card. I heard once that canceling a credit card has a negitive effect on your credit score. Is this true? If so, how do I switch credit cards and avoid affecting my credit score in a bad way?

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Posted in Green Living | 4 Comments »