Is it possible to transfer credit card balances to others’ credit card accounts?


Posted January 11th, 2010 by admin 6 Comments »
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Matt asked:


Situation: Person A has multiple credit card balances on high interest credit cards and Person B has a credit card with a much lower interest rate. Due to a poor credit history, Person A can’t obtain a low interest credit card. They’ve agreed to transfer it to Person B’s low interest credit card and have Person A pay Person B the monthly payments to make it easier to pay down their high interest balances.

Is this possible?

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Posted in Credit | 6 Comments »

Can credit card companies close your accounts without warning? How does it affect your credit score?


Posted January 11th, 2010 by admin 6 Comments »
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Sara asked:


I received a letter in the mail from Juniper (iTunes Rewards) stating that they have closed my credit card account due to inactivity. I opened the account about 18 months ago and have never actually used it. Can they close my account just like that without any warning? How should I handle the situation? (Is there anything I can even do?)

Also, I know that closing credit card accounts lowers your credit score. Does anyone know how much mine will be affected?

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Posted in Credit | 6 Comments »