What is the average age of my credit history??

To keep it simple...say i have two credit cards. One of them was opened 10 years ago and is still open. The other was opened for one month and CLOSED because I didn%26#039;t like the interest rate offered. (One of those 9.99, 12.99, or 17.99 offers then gave the crappy APR after approved). There is no negative history on either. I just want to know will the average age of credit history (according to credit bureau) be 5 years or 10 years??

(10 years + 1 month) / 2 = approx 5 years

or

10 years / 1 = 10 years

I want to know if I am better off keeping a card with a bad apr to keep the avg age of credit from being dragged down so much??

If its the average of ALL accounts then the average will move up much slower than if its the average of ONLY OPEN accounts.

What is the average age of my credit history??heart rate monitor

As long as you don%26#039;t cancel the 10 y/o card, you should be fine. My suggestion would be to contact customer service and request to close your account. You%26#039;ll be transferred to the %26quot;retention%26quot; department in which they%26#039;ll try to keep you around, especially if you%26#039;ve been a card holder for so long. If you%26#039;ve had perfect payment history all this time, there should be no reason why they won%26#039;t lower your APR, especially if you%26#039;re getting offers for other cards. If you%26#039;re receiving any offers in the mail, keep them and use them as leverage. Make it look like you%26#039;re serious about levaing them if they don%26#039;t take care of you by lowering the rate. Remind them that you%26#039;ve been a loyal and excellent customer for the past decade and that it would be a shame to lose a customer. Hopefully they will see the light and take care of you. If not, then I would still keep the card, but I would BARELY use it, I mean like no more than about $10/month, to where it%26#039;s showing activity.

What is the average age of my credit history?? loan

Your posision is good

Good luck

Is it a good idea to start establishing credit as a college student?

I am about to be a sophomore in college. I am not a big spender, but every once in a while I%26#039;ll make a purchase that either requires a credit card or I would rather not pay with check or cash. I have been told it is a good idea to start establishing credit now for the future. Would this be a smart decision? What kind of card would be best for me, providing I would rarely use it and only for purchases in which a credit card is necessary? What kind of rates should I be looking for? As a college student, I get offers every day in the mail, but I%26#039;m not sure what would work best for me. Thanks for your help!

Is it a good idea to start establishing credit as a college student?credit card debt

It is the perfect time to build credit, especially now when you%26#039;re a college student, because in a couple of years when you graduate college, you%26#039;ll need to be in a position to make in on your own. Going to school is one thing, getting a job is another, and taking care of yourself in this world%26#039;s another.

What you really need to understand is that credit should be used as a tool to help improve the quality of life. Some people rely on it way too much and end up using it as a crutch. Some examples of how credit can directly affect your lifestyle would be trying to find a place to live, getting decent transportation when public transportation won%26#039;t do, and even some jobs require a good credit history.

Now as for the kind of card that you need. Keep in mind that it should be one without fees, whether it%26#039;s a processing fee or an annual feel. Citi and Chase both offer very good student cards. I posted links to these below.

Also, another way to establish credit is to by reporting all your monthly payments with PRBC. They%26#039;re a credit bureau that specializes in %26quot;alternative credit%26quot; by reporting regular monthly payments that doesn%26#039;t show on your report such as rent, utilities, cell phone, insurance, etc. It%26#039;s free to join, and they also have a billpay service that automatically reports payments you make through the service with PRBC. I posted a link to their website as well, which I strongly suggest you check out!!!

I hope that this answer helps,

Good luck!

Is it a good idea to start establishing credit as a college student?

loan

so long as you pay off balance every month and don%26#039;t get over your head in debt. that can affect your credit for years, including car insurance costs|||Its a good idea... However, dont make the same mistakes I did. When I got drunk, I would blow through $200 a night. I racked up huge credit card debt and I am now paying the price.... I was a finance major as well, go figure. Most banks offer cards for students will relatively low interest rates.. They are your best bet..... Wachovia, Commerce, etc.|||Establishing credit is good.A secured credit card from your current bank is a good idea, it will help establish your credit with little worries. It is basically like a debit card. However much you put on the credit card is the ammount that you can spend.|||It%26#039;s a good idea to get a credit card to start establishing your credit history. Be careful not to get into too much debt - a lot of young people make that mistake.

Look for a good interest rate. 10% is good.

Don%26#039;t get a card with annual fees.

Pay it on time. Always pay more than the minimum.

You%26#039;re going to want to keep this card as long as you can.

The older the credit card (in good standing) the better it looks on your credit report. Cancelling a credit card in good standing, is like throwing away a good report card.

And do research! You can never stop educating yourself about finances. Check bankrate.com to compare credit cards.

Good luck!|||I disagree with most people on this one. Stay away from CC%26#039;s when in college. If you need to use a CC for purchases get a debit card from your bank. Establishing credit is not as important as completely staying out of debt. CC%26#039;s are a trap that most if not all college students fall into. I know, I was one of them.

The truth is that most 80% of college students will graduate heavily in CC debt. People who are as poor as college students tend to lean on their credit. Couple that with little to no life experience and that spells BIG profits for CC companies.

Live like no one else. Don%26#039;t get CC%26#039;s! You will thank me later.|||credit is one of the few things in life where the more you use, the more you get.

most of the credit card companies offer special student cards like the one I%26#039;ve linked to below.

make very sure you pay the bill on time and get started building you credit history. you%26#039;ll be glad you did.|||Yes, being a college student is probably the best time to start building credit. It is easier to get a credit card while your a student because lenders target college students. I got my first credit card when I was a college student and now I have excellent credit. I recommend you pay your bills in full every month because the interest will probably be high. The Chase flexible student rewards card is a good choice.|||As the name suggests, a student credit card is specially designed for students and is very different from your regular credit card. Because it may be the first time for college students to apply for a credit card, most credit card companies designed their student credit cards to be a form of secured credit cards.

It will help a student to avoid accumulating high amounts of debt because of reckless spending. If you need groceries, or that recommended book but you don%26#039;t have the money for it, then it may be time for you to use your student credit card. It is good if you start learning good financial habits from your student life itself. Don%26#039;t use the card to pay for everything and anything. Use it judicially or it will land you in a debt to repay after the college finishes.

It is not unusual to find the representatives of credit card companies promoting student credit card in college campuses. However, finding a right card will take much more than contacting the representative of credit card company. Develop a habit of shopping around and getting the best deal out there. Though the interest rates on student credit cards are relatively low, they also offer a low credit amount. If used judicially student credit card can become the perfect means to build a credit history and jumpstart your financial wellbeing. Apply online for a best student credit card at: http://www.credit-card-gallery.com/Stude...

Does accepting "pre approved" credit cards hurt my credit?

Don%26#039;t those inquiries look bad on my report? What are your do%26#039;s and don%26#039;ts on %26quot;pre qualified%26quot; credit cards? I%26#039;m 21 and I want to be really careful. Out of about 8 offers, one looked ok (it%26#039;s called Salute by Visa), but I need to do more research. Any advice is helpful.

Does accepting %26quot;pre approved%26quot; credit cards hurt my credit?care credit

Credit card companies regularly look at your credit. These %26#039;soft inquiries%26#039; have little / or no effect. And any effect they may have is only short-term.

Before you accept one of these offers, you may want to compare other credit card offers online. Although credit card companies claim you%26#039;re %26#039;pre-approved%26#039; for an offer, they still have to complete an in-depth evaluation of your credit report before they actually give you an approval. A %26#039;pre-approval%26#039; is based solely on your credit score. They still have to evaluate your credit report before their final decision.

Also, keep in mind that if one company provided you a pre-approval for a credit card-- it%26#039;s likely others will feel the same way about you as a potential card holder. You may want to explore all your options and find the BEST CARD before you accept an offer by mail. You can compare offers at:

http://www.asapcreditcard.com

GOOD LUCK!

Does accepting %26quot;pre approved%26quot; credit cards hurt my credit?

loan

having credit cards doesn%26#039;t help or hurt your credit. if you use them a lot and don%26#039;t make the payments on time or get really into debt is what hurts your credit. just get one credit card and don%26#039;t use it more than you afford to pay off at the end of the month. that will establish your credit rating if you need to borrow money later on.|||Not that I%26#039;m aware of.. I accepted an offer of 0% interest when I was 18. At the end of the introductory period, usually a year, I%26#039;ll transfer my balance to another credit card that is offering 0% interest for a time. So far my credit score is 750, pretty good for a guy who%26#039;s 24. As long as you pay your bills on time, you can accept any credit card offer you want.|||The inquiries that pre-approved offers do are called %26quot;soft inquiries%26quot;, that don%26#039;t go against your credit. It%26#039;s mainly used to see if you would meet the basic requirements of their marketing offer. Once you do apply then a formal inquiry is performed to determine what you%26#039;re credit line and APR will be. Be careful applying for too many of these cards can do a number on your credit score. Each %26quot;hard%26quot; inquiry can knock off up to 3 points off your score and it takes about 2 years for them to be removed. Another suggestion is to see if a low balance credit card or even secured credit cards are offered where you bank. A secured credit card is the easiest, but it has one major drawback: You have to make a deposit upfront that would equal the credit line. For example, if you deposited $500, then you would get the same amount in credit. This deposit is held anywhere from 6 months to a year depending on how well you pay. If you can establish and maintain a solid credit history, then your deposit is refunded with interest and the card becomes unsecured. A tip to keep control of your credit is to make small purchases that you can pay off completely every month. Use the card in emergencies (such as car repairs, medical emergencies) Also when you%26#039;re applying, find out what the APR will be, or at least an estimate. A lot of companies use the bait-and-switch tactic to get customers by luring them in with a low or 0% APR, then gouging them later on with astronomical rates. A final piece of advice is to shop around, you%26#039;re still young and trust me, those cards aren%26#039;t going anywhere. Make sure that you get the one that will work for you!

Good Luck!|||When future creditors review your FICO score or do a search on your credit history, they will base part of their approval decision on the number of inquiries made against your name. Anytime you apply for credit, this counts as an inquiry. Over three inquiries in say a six month period, alerts the creditor that you have been actively searching for credit and may be a high risk borrower.

In my opinion your inquiries do not correlate to your creditworthiness, but in the eyes of some lenders it denotes desperation. If you want to learn more about lending and borrowing, check out the people to peole loan business at prosper.com. Interesting site. You can also see how potential lenders use the number of inquiries as part of their criteria for making a loan.

As for prepaid cards, presumably you are willing to go that route because nobody will give you a standard card, which also means there have been multiple inquiries done against your name in the recent past. Getting a prepaid will probably not impact your creditworthiness any more than it already is. I don%26#039;t have a problem with prepaids, if you have the funds to back it up. Also, if you manage your prepaid well, pay on time, etc., you will some be receiving multiple offers for standard cards.

To learn more about personal money management, visit my webpage:

www.squidoo.com/wealthguru|||I would suggest visiting creditboards.com before you embark on your credit card ventures. That site is worth it%26#039;s weight in gold when it comes to resources and advice. It can also give you a bit of insight on what can happen if credit is not handled with an emphasis on caution.

Also, assume the worst when reading the fine print. Assume that it applies to %26#039;you%26#039; and not some schmuck who cannot handle his finances.

Good luck.|||Rule of thumb! Keep one credit card only for emergencies.

Companies are in this to make money and nothing is free for long. I would go to wherever you bank and get one if you need to. Except for going in debt for a house or car unless you are going to college most things can be bought just by putting your money aside till you can afford to pay cash for it.|||%26quot;Prepaid credit cards offer many benefits like:

Interest-Free purchasing

Even people with a bad credit history can get prepaid credit card.

The credit limit varies according to the balance on the card.

Most of the retailers accept prepaid credit card, and it can be used just like a credit card or a debit card.When you use prepaid credit cards for any purchase, your money spent would be automatically debited from your balance present on the card.%26quot;

Credit cards?

What is the best credit card and what bank it is,which one you prefer visa,master,amex,discover and what does it offer?

Credit cards?inflation rate

The answer to that question will vary from person to person and depends upon your needs and your credit rating. You have to research the cards and banks and ask the questions that matter to you. You can often negotiate a lower interest rate, for example, than the one initially offered, and some people can get a lower interest rate than another person because of their credit rating, the amount of debt they are carrying, etc.

Credit cards? loan

The above source is good. I would check out Wachovia credit cards as well. They usually win the top rating for best credit card each year.|||all 4 have there advantages

I use AMERICAN EXPRESS, DISCOVER, MASTER CARD, and VISA|||Best credit card is citicard, good interest and high rewards

go here to compare the credit card

http://www.bestcreditrates.net|||visa or mastercard accepted most places. citi chase or highest rebate cards. example 5% cash back on gas drugstore.|||Assuming you%26#039;re planning to use your credit card like cash and pay off the balance every month, then you%26#039;re really looking for the card with the best rewards. The card with the best rewards for you will depend on your spending profile -- that is, how much you spend in various categories like gas, groceries, restaurants, etc.

An easy way to find out which card will pay you the most rewards for your spending is to use the calculator at http://www.creditcardtuneup.com/ .

If you find two cards with equal or about equal rewards, then I%26#039;d give a slight preference to visa and mastercard over amex and discover because they are the most widely accepted cards.|||Here%26#039;s a good selection|||just go here and see what they offer http://www.bestcreditrates.net

I perfer Citicard, it offers 5% cash back

Should I consolidate my student loans?

Hi, I have 2 federal student loans: $49K @ 2.75% fixed, and $11K @ 6.8% fixed. If I consolidate, I get a fixed rate of 3.5%. Should I do this? Will I be saving money in the long run or not? Or should I just pay the $11K loan separately instead? I have a credit card that offers a 4.99% fixed rate over the life of the loan. Please advice!

PS: No %26quot;automatic%26quot;/spam answers...

Should I consolidate my student loans?credit bureau

Heck yeah.... if the rates are that good, I think I should look into consolidation too!

If consolidation extends the life of the loan, you%26#039;ll pay more, but you%26#039;ll have a lower monthly payment. So you%26#039;ll need to decide if you want to be out of debt sooner or you want to have more leeway in your budget.