Credit Ref Agencys
- Thread starter djchewie
- Start date
zarbtron said:just holding a credit card keeps your credit rating up. I think it might be the only way
don't transfer credit card balances too many times (not sure if this is true - does anyone know?)
found this...
http://www.thisismoney.co.uk/help-a...age_id=100&in_article_id=395436&in_page_id=90
Morbyd
Moderator
It's not just holding a credit card, it's using it and then paying your balances on time.
Also, taking a loan for something and repaying it promptly helps.
Example: I destroyed my credit during university (credit card, phone bills) such that I was shafted when taking out a car loan a year and a half after I finished (18% apr!!).
I paid on that loan for a year and a half and when I went to refinance it, I was told I had great credit
and given a rate less than half that. Also started getting credit cards again (which are now used a lot more responsibly!).
Paid off that loan early and sped up repayment of student loans and now I can't get my credit card companies to stop raising my limits!
Also, taking a loan for something and repaying it promptly helps.
Example: I destroyed my credit during university (credit card, phone bills) such that I was shafted when taking out a car loan a year and a half after I finished (18% apr!!).
I paid on that loan for a year and a half and when I went to refinance it, I was told I had great credit
and given a rate less than half that. Also started getting credit cards again (which are now used a lot more responsibly!). Paid off that loan early and sped up repayment of student loans and now I can't get my credit card companies to stop raising my limits!
Morbyd
Moderator
That's a little known fact: if you notice that the credit card company has hiked your interest rates (of if you had a high rate to begin with but have responsibly used the card for a while), you can call and ask them to lower it. Just say the rate is too high and you won't use the card.
I've had that work a couple of times.
I've had that work a couple of times.
Morbyd said:Exactly! I'm telling you, since I paid all my cards down to zero a while ago and started paying for any charges before the grace period ended, they started boosting my limits every couple months. It's like they're beckoning me to go buy a big-ticket item
oh lo and behold, marbles offered me 4.9% for 6 months! - i told em to f off, and he asked why.... i said, "you were happy to charge me 23.9% and when i asked for help, i got none!".
C***s
mambobirdette
Active Member
Good answer!!! dont keep any of the accounts open, close them all! 
mambobirdette said:Good answer!!! dont keep any of the accounts open, close them all!
3 closed, one left open in hope of a limit increase, so i can take advantage of a long term low rate
did u know marbles is run by a company based in birmingham... in fact, the amount of interest ive paidf to them over the past 5yrs, i technically own half of Brum!