The three types of accounts on a consumer credit report are installment accounts, revolving credit and open accounts. Credit cards are considered revolving accounts.
Open positive accounts with 0 balance is always good especially when they age, just leave it open.
Maybe a lot, maybe none. Your credit scores are calculated based on ALL the information in your credit file at the time they are requested, not just these four accounts. Were all accounts paid as agreed? What were the dates the accounts were opened? What available credit did you have prior to closing 3 and how much available credit do you have now? Were the accounts delinquent? Do you have any other existing open accounts? What are the dates those were open? As you can see, the pieces of information fit together in a very complex way. One piece of data affects several others and can alter the whole equation. Once again, that is what a credit score is, a computation based on the accounts you have open.
Credit cards are open ended accounts. The issuing bank has a limit as to how much can be borrowed against the account. The top amount is the credit limit.
Credit Cards are typically considered Open Accounts. The credit card agreement you signed may specify the state laws that will apply to the account and collection activities associated with it. Read the contract and consult an attorney. In Florida Open Accounts are subect to a 4 year statute of limitations. In Michigan Open Accounts are subect to a 6 year statute of limitations.
The three types of accounts on a consumer credit report are installment accounts, revolving credit and open accounts. Credit cards are considered revolving accounts.
Open Account - account listed as "open" on your credit report are accounts that are open, includes all accounts that have been reported within the last 90 days.
NO! THE OPPOSITE HAPPENS, YOUR CREDIT SCORE WILL LOWER. KEEP YOU ACCOUNTS OPEN EVEN IF YOU HAVE A ZERO BALANCE. NEVER, CLOSE AN ACCOUNT IF YOU CAN AVIOD THIS.
Number of credit inquiries, number of open accounts, length those accounts have been open, payment history, percentage of available credit...there are more, but those are 5 big ones.
Typically they are considered a written agreement. And check what state law is to be applied under that agreement.
Open positive accounts with 0 balance is always good especially when they age, just leave it open.
Maybe a lot, maybe none. Your credit scores are calculated based on ALL the information in your credit file at the time they are requested, not just these four accounts. Were all accounts paid as agreed? What were the dates the accounts were opened? What available credit did you have prior to closing 3 and how much available credit do you have now? Were the accounts delinquent? Do you have any other existing open accounts? What are the dates those were open? As you can see, the pieces of information fit together in a very complex way. One piece of data affects several others and can alter the whole equation. Once again, that is what a credit score is, a computation based on the accounts you have open.
Someone with bad credit could open a merchant account with their bank, provided that their bank offers merchant accounts. Additionally, someone with bad credit could open a merchant account overseas, as overseas merchant processors don't typically pull credit reports.
Yes
I would start by looking up your credit report. You can get this from Equifax or Transunion.
I just got my credit report from Equifax and it had all the creditors addresses (open and closed) included when I viewed the details of my accounts.
Credit cards are open ended accounts. The issuing bank has a limit as to how much can be borrowed against the account. The top amount is the credit limit.