How do I switch credit cards and not affect my credit score?
by admin ~ October 30th, 2007 . Filed under: Credit .
msc44 asked:
I want to get a frequent flyer credit card but I already have 3 credit cards with generous limits. I don’t need these credit cards and I would like to cancel them and have this “possible credit” to go towards the new card. I heard once that canceling a credit card has a negitive effect on your credit score. Is this true? If so, how do I switch credit cards and avoid affecting my credit score in a bad way?
Cherise Mcdearmont
I want to get a frequent flyer credit card but I already have 3 credit cards with generous limits. I don’t need these credit cards and I would like to cancel them and have this “possible credit” to go towards the new card. I heard once that canceling a credit card has a negitive effect on your credit score. Is this true? If so, how do I switch credit cards and avoid affecting my credit score in a bad way?
Cherise Mcdearmont
November 1st, 2007 at 1:36 am
The monthly charges in full each month is true having active credit limit paying any interest rate and start using it is different issue.
November 1st, 2007 at 4:18 am
Some banks will allow you to upgrade your current card to something else. I have done this twice with no problem.