Credit reports

[KevDen2005]

Time of credit seems to be semi important as well. Different places see different cards, and I've seen variations of like 80 points depending on how old the oldest cards are. So definitely don't close any, even if they are terrible cards. It bothers me when I see stuff like "Your oldest account is only twelve years old."

So if a company offers a really good credit deal for instance, transferring debt from one card to another to be interest free for 18 months, I should still leave the old card open?

[brutal]

So if a company offers a really good credit deal for instance, transferring debt from one card to another to be interest free for 18 months, I should still leave the old card open?

Yea, just watch the transfer fees...

[Great-Kazoo]

Yea, just watch the transfer fees...

And the interest rates you are hit with IF you don't pay off your balance on time.

[Irving]

And the interest rates you are hit with IF you don't pay off your balance on time.

Especially this because many of them will back date the interest and charge you from the entire transfer amount.

[KevDen2005]

Yea, just watch the transfer fees...

I did this one time. My wife didn't understand how credit cards worked and had a maxed card and I had nothing on the only card I had. I opened another card for the 18 month interest free. They gave me a great deal. It was only $100 transfer fee and $5 a year maintenance at the time. Plus the interest rate only went to the normal interest rate if we didn't pay off in time, which I did so it didn't matter.