Can credit card companies close your accounts without warning? How does it affect your credit score?
Q. 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?
Asked by Sara - Tue Dec 23 21:34:21 2008 - - 6 Answers - 0 Comments

A. Canceling a credit card can ding your credit because part of your credit score is based on something called a debt-to-credit ratio. When you cancel a credit card, you lower the amount of credit available to you, making that ratio look bigger (and more risky) to creditors.. 15 percent Length of Credit History: "In general, a credit report containing a list of accounts opened for a long time will help your credit score. The score considers your oldest account and the average age of all accounts." 35 percent Payment History: "Having a long history making of payments on time and no missed payments on all credit accounts is one of the most important items lenders look for
Answered by Stealth - Tue Dec 23 21:55:55 2008

What is the best credit card to suit my needs?
Q. I want a credit card with a good balance tranfer offer. Six months at 0% will do fine. It might be nice for it to be otherwise a good credit card too because I might pay the balance off in about a month and still want to use the credit card. I already have a Amazon credit card with Chase so I think I need to use a different bank.
Asked by Robert B - Sun Dec 23 23:00:12 2007 - - 3 Answers - 0 Comments

A. In the overall grand scheme of things, it doesnt matter. I work for the largest credit card company in the country and I should be giving you my office number and tell you to call me on Wednesday when I go back to work, but I wont. They are all the same. Shop for interest rates. Some will give you 0% for a year or longer on balance transfers. Most will have a prime + interest rate, meaning your interest will change only when prime changes. Check the websites of chase, bank of america and citi. They are the biggest ones. It doesnt really matter who as long as you get the best rate. My personal opinion is go with who ever you bank with. Most banks will have their own credit cards that come with an introductory interest rate. Its… [cont.]
Answered by April H - Sun Dec 23 23:25:46 2007

What credit card can I apply for that does not check credit?
Q. I am attempting to build a positve credit rating and I need a card that reports to the credit bureau, but will allow me to obtain it without a credit check. HELP?
Asked by sayyeahh - Wed Oct 10 15:41:00 2007 - - 6 Answers - 1 Comments

A. You can't get a credit card that will report to the credit bureaus that doesn't do a credit check first. If you don't have good enough credit to get a normal credit card you may end up with what's called a secured credit card. Which means that you put a security deposit down and in exchange you get a credit card to use. And then as long as all your payments are on time and you don't go over your credit limit they'll give you back your security deposit usually after about a year.
Answered by Ovelia - Wed Oct 10 15:51:34 2007