Will cash-advances play the similar role in building a good credit history like purchases or it's considered inferior vis-a-vis Purchases? would greatly appreciate a reply to this
RE: role of Cash-advances in c I have seldom used a regular card for purchases and I have built my credit to over $150,000. The secret to good credit is paying back. Make large payments and make them on time. You will get lower rate offers and higher limits. Profit from the experience. http://www.creditsense.com
RE: role of Cash-advances in c CreditWorks,when you apply a new card,Is possible got reject beacase you already have so many cards .If not,How come? Thanks.
RE: role of Cash-advances in c There is no indication made on your credit file at the CRA about the composition of your current balance. They just list one number: the total amount you owe. The specific creditor may keep track of this information and use it to make such decisions as adjusting your interest rate or giving you a credit line increase or waiving an annual fee.
RE: role of Cash-advances in c Yes, I have been rejected because of too many cards. Anytime you get turned down, you should investigate the reason, correct it and wait a few months. I usually wait 6 months. I will always have too many cards, unless they start charging me a yearly fee just for keeping the account. As long as the account is low maintenance, it is worth keeping. One as an emergency source of funds and two as a possible money making opportunity. Profit from the experience. http://www.creditsense.com
