Sentences with phrase «keeping open the credit line»

Keep your open credit lines reasonable and your credit utilization low.

Downgrades are not a possibility for all cards, but in some cases, you can ask for the card to be downgraded to a no annual fee version, thus keeping open the credit line without needing to pay the annual fee.

Not exact matches

HELOC: Lines of credit are typically less expensive to originate than cash - out refinances, and you can keep the unused line open for future needs.

You may want to leave it open if you've had a solid repayment record, it's a no - fee card, and you've kept both the balance and total credit line low.

Additionally, many lines of credit charge an annual fee to keep the credit line open.

Should I cancel one, or keep two open lines of credit?

If you go this route, try to keep one credit line that you've had for a few years (like a store credit card) open... this will make things easier later on.

Both types of protection can help keep thieves from opening new lines of credit in your name, but they come with downsides.

Whether you need one to keep an open line of credit or you want to take advantage of credit card rewards and other perks that the best business credit cards offer, it's important that you choose the card that best fits your business» needs.

Prepare yourself for the application, keep your credit lines open but do not max them out.

To get started establishing your credit, you must open a credit line from a lender that reports to the credit bureaus and keep such account open.

Even if you've paid off a credit card, keep it open and gather up the extra points you get from having that extra line of credit.

I am not planning on using it for any reason in the near or distant future, but I do like to keep some credit lines open as a general rule.

So keep those old credit lines open if you can, (but only if they won't get you back in trouble), and they will help you recover more quickly.

The people who are happy with the service also state that American Credit Repair was very good at keeping the lines of communication open and that credit counselors were helpful and courCredit Repair was very good at keeping the lines of communication open and that credit counselors were helpful and courcredit counselors were helpful and courteous.

These actions can hurt your score if they result in higher credit utilization (percentage of balance to credit limit); therefore, you're going to want to preserve your credit lines by keeping your credit card accounts open and using them frequently — while, at the same time, maintaining low balances.

Yes, you will definitely want to keep your old credit card account open so your credit score won't take a hit — especially if you are planning on applying for any new lines of credit in the near future.

Without any open lines of credit, a lender has no idea how risky you are as a borrower or if you can keep up with monthly payments for the long haul, says Dave Marcus, a senior loan officer with AmeriFirst Financial in Denver.

The one advantage to keeping your current balance at, or near, zero is that you keep your credit line open.

Make sure you keep your spending in check when you open up a larger credit line.

Try to keep your credit lines open as long as possible even if you don't use them.

Taking out a HECM early in retirement and keeping the credit line open for use in the future proves to be a popular strategic plan.

To be forced to stay actively borrowing on the credit line in order to keep an open status or finding out the line of credit has been decreased or closed suddenly would be frustratingly inconvenient for anyone.

The best thing that you can do is keep an open - line of communication and build a strong financial trust with your credit lender.

Approved applicants can keep their credit line open for as long as they choose without incurring annual fees.

For other debts, we both have low - interest lines of credit that are currently at a zero balance but we keep them open in case of emergency.

But, if you open the reverse mortgage and you keep a low loan balance, then it's the line of credit that grows instead.

They now provide credit monitoring at no charge too, so you can keep track of all your current lines of open credit.

Keep that in mind when gauging the attractiveness of an open mortgage / line of credit at prime rate.

To keep your line of credit open, you must maintain a certain amount of equity — the current value of your assets less the amount of the margin loan — in your account at all times.

To avoid repayment and keep a credit line open, borrowers often seek a new HELOC at the end of the draw period, refinancing their HELOC so they can continue borrowing while avoiding a big increase in the minimum monthly payment.

Open this line of credit and get a low interest rate for six months, then bam — suddenly you've collected more credit cards than you can keep up with.

I won't use the card ever, and keeping the credit line open will help me for my next round of applications, should I need to close a card to get an approval from Citi.

You could keep the card history, and the credit line open with this downgrade, and use both for future Chase cards.

Tip: Using a no - annual - fee card for your first card is a smart move to ensure you can confidently keep that credit line open without having to pay for it!

If those all fail, you can also inquire about downgrading the card to an annual fee - free counterpart, assuming you want to keep that line of credit open (for the sake of your credit score and credit history).

The no annual fee version is great for keeping your line of credit open and allowing your account to age and as of the time of this writing, it offers you increased award inventory and a 25 % bonus on the MPX App!

I only keep it open because of the credit line I carry on that card, otherwise I would be a fool to use it.

Or you could also apply for a new credit card from the same issuer then merge the two lines of credit onto your new card before canceling the old one in order to keep that line of credit open and active so it has less of an impact on your credit score.

The idea is that you can do a favor to your credit score by keeping the line of credit open, even if you're not willing to pay the annual fee any longer.

• Served as point of contact for suppliers and other creditors, negotiating with them to keep lines of credit open and with terms that better favored the business.

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To be forced to stay actively borrowing on the credit line in order to keep an open status or finding out the line of credit has been decreased or closed suddenly would be frustratingly inconvenient for anyone.

Before and after applying for a loan, make sure you pay all of your bills on time, don't close any old credit accounts or open any new lines of credit, and keep balances low on revolving credit.