Should I Close My Unused Credit Card Accounts?

Consider this example: You have 5 credit cards total. Four of those cards have been active for 5 to 8 years. Your fifth card is a new card that you just received with 0% on balance transfers and purchases for 15 months. You are excited upon receiving your new card, and feel that you should close the other four accounts in your name, since you no longer want to use them.

FICO-wise, this is not a good decision. When FICO computes your score, it now sees only a two-month credit history, rather than your 5 to 8 year history, and consequently, your FICO score will suffer.

You are better off leaving the other four cards open with a zero balance and placing them somewhere that you are not likely to access or use them. The 5 to 8 year history that you worked hard to build will continue to work in your favor only if the accounts remain open.

Keeping those four other cards open also lowers your available credit ratio, which is very important from a creditor's viewpoint. Suppose you do close the other 4 credit card accounts and only use your new card. If you reach the maximum credit limit on the new card, then your debt ratio is now 100%. Why? Your other accounts are now closed!

Furthermore, leaving unused accounts open is a good idea simply because credit card companies will often apply special offers and low or 0% interest rates to dormant accounts. Credit card companies want dormant accounts to be used, as it is cheaper for them to entice holders of dormant accounts to begin using them again, than it is for them to obtain new account holders.

World of Warcraft Visa Card

The World of Warcraft Visa Card from First National Bank of Omaha has no annual fees, and a $10 maximum balance transfer fee!

First use of the card earns a free month of game play time, and keep using your card for even more free game time!

Get your World of Warcraft Visa Card today!

Visa Black Card

Are you looking for the ultimate credit card to put in your wallet? Always looking for something exclusive? Then look no further than the Visa Black Card!

For those who demand only the best of what life has to offer, the exclusive Visa Black Card is for you. The Black Card is not just another piece of plastic. Made with carbon, it is the ultimate buying tool.

The Black Card is not for everyone. In fact, it is available to only 1% of U.S. Residents to ensure the highest caliber of personal service is provided to every Cardmember.

Become a Black Card member today and enjoy our 24-hour world class Concierge Service ready to assist you with all your business, travel and leisure needs.

Applied Bank® Secured Visa® Credit Card

Is your credit a little beat up? Have less than perfect credit? If so, then check out this card at http://www.yocredit.com

The Applied Bank® Secured Visa® Credit Card is a secured credit card with a low 9.99% interest rate and no credit or income requirements.

Check your credit absolutely FREE

Have you checked your credit lately? If not, then there is no reason for you not to check it for FREE, without any obligation whatsoever.

Go to https://www.annualcreditreport.com/ and you can securely and safely view your credit report on file with Trans Union, Experian, and Equifax for absolutely no cost.

Annualcreditreport.com is the Federally mandated website that the credit bureaus established to fulfill the requirements of the Fair and Accurate Credit Transactions Act, or FACT Act. Under the FACT Act, you are entitled to view your credit report at each of the 3 credit reporting agencies, once a year, for FREE.

Check your credit report now! If you find any erroneous information on your credit report, you can contact Trans Union, Equifax, and Experian directly and have any wrong information corrected or removed.

90 days interest-free on your credit card!

The Advanta Net-90 Platinum BusinessCard has a rolling 90-day interest grace period on all purchases. That's right as long as your account is open in good standing, there is 0% interest grace period on all purchases for 90 days.

You also get an unlimited business rewards program with cash, travel, merchandise and more, and you earn 1 point for every dollar in purchases with no cap. There is no annual fee!

Check out the Advanta Net-90 Platinum BusinessCard at zeropercentcards.com

US Bank WorldPerks Visa®

The US Bank Northwest Airlines WorldPerks Visa® now has new features!

You get a one-time enrollment bonus, and can redeem up to two award tickets a year for as little as 19,000 miles each (a 6,000-mile per ticket discount). NWA tickets purchased with the card earn double miles.

There are even more features available, so if you frequently fly Northwest Airlines, and don't have the card yet, then check it out at: http://www.zeropercentcards.com/

0% interest for 15 months no more

Well, it appears that all of the credit cards which were offering intro rates of 0% interest for 15 months have all but disappeared.

Bank of America was offering a few credit cards with 15 month 0% interest periods, but it seems they have all been discontinued as of December 31, 2008.

Once the credit crunch is over, I would expect to see more 0% for 15 month offers from possibly Bank of America, Chase, and Advanta.

Meanwhile, your best bet is the Citi® Platinum Select® MasterCard® from http://www.zeropercentcards.com/

holiday expenses piling up?

Did you go a little crazy purchasing gifts this past holiday season? Didn't expect that Nintendo Wii to cost so much? Had to get some last minute Christmas gifts that you didn't budget?

Perhaps you need a temporary reprieve from credit card interest to pay off all of your holiday bills?

Fortunately, there are still some credit cards available that offer 0% interest balance transfers with absolutely NO balance transfer fee. It is true; check them out at: http://www.zeropercentcards.com/cards.asp?catid=33

The IberiaBank and Pulaski Bank cards have no balance transfer fee!

Here is to you saving some money on your credit card bills!

Still looking for some other zero percent credit cards?
Then check out: http://www.zeropercentcards.com/