Credit Advice » Debt » Credit Cards

Credit Cards

Opening a credit card and making on-time payments is a signal to creditors that you can effectively manage debt. Late or missed payments may be a red flag to lenders. Before applying for or canceling a credit card, learn how having one can impact your credit report and credit score.

Canceling Credit Cards

Closing a credit card account reduces the total amount of credit you have available to you. This affects your credit utilization rate, which is a factor in calculating your credit score. If you have a strong credit history and/or a large amount of credit available to you, closing a single credit card might not impact your credit score at all.

If you’re afraid you’ll be unable to risk the temptation of the credit card, it may be advisable to close it. Large portions of debt and late or missed payments are negative marks on your credit history and can harm your chances of earning future credit.

Business Credit Cards on Your Personal Credit Report

January 30, 2013

Dear Experian, I am the sole proprietor of an LLC. Will credit cards in my name and the name of the business show up on my personal credit report? - AHK

The Amount of Revolving Balances is Too High

August 29, 2012

Dear Experian, I would like to clean up my credit, but want to know if it is beneficial to close revolving credit accounts that I am not using or will...

Paid Accounts Showing on Credit Report

August 15, 2012

Dear Experian, All my credit cards are paid in full and closed but still showing revolving on my credit history. I want to clean up my credit history. What steps...

Should You Close Paid Off Accounts

July 18, 2012

Dear Experian, I have four accounts that have a limit of $300 each. I have had these accounts for years. I would like to know if I should close them...

Authorized User Who Has Declared Bankruptcy

June 20, 2012

Dear Experian, If I add an authorized user who filed bankruptcy to my credit card, will that affect my credit scores? - SDY

How Balance Transfers Affect Your Credit Score

June 6, 2012

Dear Experian, I have a question about balance transfers. I have a credit card with a balance that I am paying interest on. My husband has an existing credit...

Authorized User on Delinquent Credit Card

May 9, 2012

Dear Experian, I was an authorized user under my mom's credit card. I never used the card. I only "piggybacked" so I could start a credit history. She was unable...

New Credit Card Not Appearing in Credit Report

April 25, 2012

Dear Experian, I have had a new credit card since December. They state that they are reporting to the credit bureau but I see no record of it. How can...

Authorized User Account Impeding Home Purchase

February 1, 2012

Dear Experian, I have a question regarding authorized users. I put my son on my card when he and his sister were traveling in Europe. I forgot about it...

Change of Address for Credit Cards

January 18, 2012

Dear Experian, My oldest son recently moved. I have just found out that your agency, without my knowledge, changed the address on my credit cards. My bills should still be...

Credit Card Under Different Name on Credit Report

January 4, 2012

Dear Experian, I have two credit cards that are affiliated with private companies. Neither of these credit cards shows up on my credit report. Both have large limits with small...

Removing Authorized User Accounts After a Breakup

August 17, 2011

Dear Experian, I broke off a relationship in October 2009 where I was an authorized user on several credit cards. My ex-girlfriend told me she removed me as authorized user....