I use the scrubby sponges, and it is recommended that you replace it frequently due to the possibility of getting sick from using it.
Mitch Headberg had a funny bit about it though...
https://youtu.be/ydlt7jmBAyk
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I use the scrubby sponges, and it is recommended that you replace it frequently due to the possibility of getting sick from using it.
Mitch Headberg had a funny bit about it though...
https://youtu.be/ydlt7jmBAyk
I don't even have face place going here, brother. For me, Tweeting aint gonna happen.Quote:
Originally Posted by Mazin
I'm hoping for some Win with your endeavor.
tax money is in, paycheck hit, back in good financial standing after taking a hard hit on moving expenses, deposit, first months rent and the like.
Just paid off 3 credit cards and a student loan. That feels good.
Congrats. Not sniping, just wondering, why do you have 3 credit cards?
because I wasn't very smart. Two of them are going away. My bellco credit card is closing automatically since I quit banking there. They didn't give me a car loan and a signature loan when I requested them despite having been a member for 4 years in good standing with a 675 credit score. So I said to hell with you, and opened up an account at Navy Federal and got 4.5% interest on re-financing my car (from 14% through my credit union back in Tennessee). Amazingly, NFCU gave me a loan at the 4.5% 3 days after opening my account. The other credit card is through my credit union back in Tennessee. Closing it out. Once my signature loan with them is paid off, that account is closed too.Quote:
Originally Posted by CavSct1983
So that leaves my Capitol One credit card and I'll open one through Navy Federal. that's all I'll need. It's nice to have emergency funds (funeral, car repair, etc). But now that I'm in a better financial position, I hope to never need them again. Time to start stockpiling my savings account and open up a 401K or an IRA.
Closing credit cards is bad for your credit. There is no issue with having many credit cards, especially if you're not using them.
there will be a slight hit on my score for sure but it will rebound quickly.Quote:
Originally Posted by Irving
All my stuff is paid on time. So it won't be a big deal in the long-term. might hurt a bit for 60-90 days.
the interest rates arent that great on them either. My Capitol One is at 9% and my NFCU one will be 0% for the first year and 12% after that.
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Agreed, I would leave them open, and personally don't consider 3 an excessive amount, it's what you do with them.Quote:
Originally Posted by Irving
Incorrect, closing cards changes your credit timeline (how long you've had credit) which will not recover for years. It will also immediately reduce your debt to credit ratio, which will never improve unless you get more cards, or greatly increase the limits on your remaining cards.
Edit: It will also reduce the number of active accounts you show which is another of the five factors of credit worthiness for personal credit. Closing cards hurts your credit in every way, and does nothing to help you. The one exception is if you are poor at managing credit, it can be safer to just not have it available.
Finally, interest rate doesn't matter IF you can pay off the bills every month. That's all part of actively managing your credit though, and not everyone feels the need to do so.
Like many things, how you manage your financial life is up to you, but I don't want you to make decisions based on false information.
Here is a recent thread where a lot of this stuff was covered and some excellent advice was given by some very cool and handsome members.
https://www.ar-15.co/threads/166136-...ht=credit+card