Curt F asked:


Hi everyone.
I’ve been spending alot of time contemplating credit score issues and I am now considering applying for 4 new credit cards at once. However, I plan on never activating the cards for use or charging anything to the accounts.
I know my score will take a big hit for this one day of hard inquiries, but I think that in the long run it will greatly benefit my score because of the large increase in available credit with no increase in used credit.
But at the same time i’ve heard that when I go to apply for a mortgage, the banker will probably notice my available credit and use that against me.
My question is - what are all of the possible downsides of having many credit cards besides the obvious temptation of spending money you don’t really have?

Thanks so much for your help and I’m looking forward to your advice.
Thanks for the great responses - my score averaged from the three bureaus is 736 and all the offers were approved. In all honesty, my company’s stock just hit a 3 year low, so I am going to 0% cash advance the credit into my corporate discount ESPP program and flip the shares. I know this is not encouraged by most corporations - but hey the free money is hard to pass up.
Then I will reimburse the cards and let them sit until I see another opportunity of this sort. Thanks again!

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DrEamCaTcHeR!!! asked:


I need about $3,500 dollars in order to be in good standard with my bills. I am doing soo bad. I get paid every 2 weeks and my paycheck goes straight into my overdraft account everytime for the past 4 paid periods. I am in need of a loan for at least $3500 in order to get better and not loose my car and my car insurance. I have applied to a few loan companies, but i always get denied for my bad credit. I am also looking for a part time job for late eve, nights and weekends. I am currently working FT and in college FT so it will be really hard for me to get a PT job, but I I have to do it at least until im debt free. I live in Bronx, NY. Does anyone have any suggestions? Please help, Im desesperate.

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triguyinla asked:


I have over $100,000 in credit on my 7 or 8 credit cards, all with a 0 balance. I am facing foreclosure in a few months. Will the banks cancel my credit cards once I get a foreclosure on my credit? Should I just max out all my credit cards with no intention to pay them?

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Rainy asked:


we have a small business and want to start excepting credit cards as payment but don’t know where to start ?? do I call the bank or visa or master card ??

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Yogiandbooboo asked:


I have no credit card debt but a few credit cards that are open I never intend on using. Is there any way I can close these accounts without hurting my credit? I do not like the idea of having open credit card accounts, for fear of theft of these numbers.

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chelsea asked:


I recently bought a magnetic card case to carry my credit cards and it seems that the magnet is destroying my credit cards. I had a case exactly like this (same brand, same type) before and the magnets never did this before. Is there anything I can do?

I already wrote the company that makes the card case and they were no help at all.

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J. asked:


Never taken out a loan, and have had one credit card for the last three years, so I am a complete novice when it comes to all these bank terms. For what it’s worth, I bank with USBank.

Anyways, I need a new computer, for which I don’t have the funds. I looked around on the USBank website, and found two options that looked interesting: Personal Loan, and Premier Line if Credit.

About the loan: How does that work? Does the money go into one of my accounts (I have checking, savings, and a Visa with them)? Or is it managed like an account of it’s own?

About the credit line: Is it really hard to get approved? Should I just apply for another credit card?

I know I should just go to my bank and ask, but I would like to get to know more first, and see if anyone has any experiences they can share. Thank you!

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Sariee asked:


I have lost my job,due to lack of work.I was staying current until this misfortune.I had tried a debt company and they were charging ungodly prices to settle my debts(that do exceed over twenty thousand with all the interest)I have checked into filing bankruptcy,but that is so overwhelming.My unemployment will be running out soon and I cannot find a job that will even come close to what I would have to pay on my bills.Any suggestions will surely be appreciated.Thank You

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two_kee_kees asked:


I did this last week. My new credit card is showing the balances of the others, but the old credit cards are not showing that they’ve been paid.

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Pepper asked:


I am currently a college student with 2 checking accounts (Wamu- 3 years & BOA- 1 year) and 1 credit card (Citi- 1 year). I have always met the requirements for my checking accounts and paid all my credit card bills on time. As for loans, I do have about $10,000 of student loans in debt. I was wondering if it is okay for me to get another credit card. Also, many say that having a lot of credit cards are bad for you. What is the reccomendation of how many bank accounts and credit cards should I have so that my credits would not go down? Thanks in advance!

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