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| *Loan,banking and credit>>>chase credit |
I have two credit cards, both visa; one is a student credit card and the other one is a chase platinum card,? |
with an ann fee of 39.00 and a 400 limit. My interest rate on the chase is 3.3 until feb 07, then it may or may not go up. I got it to build credit. My question is, which is better, do they both work the same? I think both would help you build your credit history and your credit score. You need to be carefull about how much you spend from the available credit. You should keep your spending below 30% of the total available credit as your credit score highly depends on your debt ratio (Available credit/Credit Remaining on the credit card). JUST PAY YOUR BILL ON TIME AND TRUST ME U WILL EARN SOME CREDIT It sounds like you've been doing some hard thinking about credit cards. This is GOOD! You didn't say if there was an annual fee on the student card or what the interest rate was. If you've been making payments on-time, you should be able to get a 0% card. Then consolidate the others and pay off all your debts. Credit cards are a crappy way to manage your finances (spending more than you make) because you end up paying more for every purchase you make on them (interest), not to mention annual fees (as you've already noticed). Get rid of the credit cards, save for the big stuff, and just use good old cash for everything else. Cash is accepted everywhere, you know. If you need a MC/Visa logo (for online shopping), get a check card (debit/credit card) attached to your checking account. Get out of debt, stay out of debt. http://www.daveramsey.com |
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