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- Aug 20, 2003
Bro's
I paid off my one and only credit card and I'm strongly considering closing it. At some point last summer I put a plane ticket and hotel cost on there that was like $800 total and after interest and irresponsibly just making minumum payments the balance shot up to $1800 or so and I just kept looking at it like
with 27% APR i guess thats how it goes with the intertest but still it was pretty crazy to see the balance jump like that. anyways after a few lump payments I was able to get it down to $0. So I wanted to ask some advice about money management.
essentially I'm thinking that to close my only credit card account could hurt me in an emergency, and is it true that if your credit is positively effected if you keep a credit card for years without missing payments?
I was also wondering what kind of rules guys have to keep their credit card from going HAM with interest. Iw as thinking like just to keep my credit right maybe it'd be best to make a purchase and then simply pay it off right away. like shoes, groceries, ect. things that i can pay for with cash.
any ways any advice is appreciated. peace
I paid off my one and only credit card and I'm strongly considering closing it. At some point last summer I put a plane ticket and hotel cost on there that was like $800 total and after interest and irresponsibly just making minumum payments the balance shot up to $1800 or so and I just kept looking at it like
with 27% APR i guess thats how it goes with the intertest but still it was pretty crazy to see the balance jump like that. anyways after a few lump payments I was able to get it down to $0. So I wanted to ask some advice about money management.
essentially I'm thinking that to close my only credit card account could hurt me in an emergency, and is it true that if your credit is positively effected if you keep a credit card for years without missing payments?
I was also wondering what kind of rules guys have to keep their credit card from going HAM with interest. Iw as thinking like just to keep my credit right maybe it'd be best to make a purchase and then simply pay it off right away. like shoes, groceries, ect. things that i can pay for with cash.
any ways any advice is appreciated. peace