Does switching creditcards from the same bank wipe out credit history linked to the credit cart bein

I have switched from a Chase Continental Mastercard to a Chase Freedom Mastercard. The rep told me I would get a new credit card but the accounts would be linked so my credit history won%26#039;t be wiped out as I am closing the old one. Is this true or will my credit history / account be wiped out and I will have to start all over again? The transfer is from one credit card to the other offered by the same bank. I would appreciate your response.

Does switching creditcards from the same bank wipe out credit history linked to the credit cart being closed?exchange rate

No, nothing is wiped out. You actually haven%26#039;t closed the old account, you have just changed the account number and reward terms. (Probably changed the apr as well, I am assuming you did this to get rid of the annual fee, or to have a more user friendly reward program). So everything that was on the old account, automatically moves over to the new account, It is actually the same account as far a your credit history is concerned.

Does switching creditcards from the same bank wipe out credit history linked to the credit cart being closed? loan

Either way your credit history is not %26quot;wiped out.%26quot; It will still remain on your credit and be positive. Your credit score is based on length of credit however. If it wasn%26#039;t the credit card you have had for the longest, you will not be affected except for applying for new credit. Even if it did close the old account and start a new it is not that significant of a credit event and might cost less than 10 points.

That said, I have switched American Express cards from one card to a Blue card and the record was the same.|||That is correct. It will report as a transferred account. I seem them often when underwriting loans.|||No, the old credit card history remains.|||You%26#039;re not alone; it%26#039;s remarkable how many people use credit cards and don%26#039;t really know the rules.

Nothing ever %26#039;wipes out%26#039; your credit history, but the last 24 months are really the most important.

You should keep your old credit card open, even if you never use it again, as closing it will decrease your debt:limit ratio, and decrease your credit score. Here are some tips on how to increase your credit score:

(1) always pay on time;

(2) call all of your credit cards and request a limit increase (to decrease your debt:limit ratio);

(3) never use more than 49% of your credit limit. The credit bureaus count the number of cards with debt over 50% of that cards%26#039; limit.

(4) Most people don%26#039;t know that you can call your credit card companies and ask them for a better APR.

Bank of America is offering illegal immigrants credit cards. They aren't required to have SS#&#

Well it is certainly unethical to cater to known criminals. Maybe Bank of AMERICA forgot what is in their name? They should change their name to Banco de Mexico. Oh they also have a program called Safe Send to Mexico so that the illegals can send all that money home. After all, money sent to Mexico from America is their second largest income. Banco de Mexico wouldn%26#039;t want to miss that action.

They are aiding and abetting illegal aliens in defiance of the immigration and control act of 1986. The Government should shut them down except they aid and abet too.

Bottom line tell everyone you know. Don%26#039;t do business with Banco de Mexico. I%26#039;d say don%26#039;t pay your taxes but you know the Government will enforce that law.

Bank of America is offering illegal immigrants credit cards. They aren%26#039;t required to have SS#%26#039;s Is this crazy?credit report

Why is that crazy? The social security number was never intended for identifucation purposes...why would you need one to get a credit card?

Bank of America is offering illegal immigrants credit cards. They aren%26#039;t required to have SS#%26#039;s Is this crazy? loan

What would be the point.. the 30 million criminal immigrants in the country share like 12 SSNs.|||Here.http://answers.yahoo.com/question/index?...

http://www.consumeraffairs.com/news04/20...

http://answers.yahoo.com/question/index;...

http://en.wikipedia.org/wiki/Privacy_Act...

Hope this helps you some.

Actually their name is this: Banc of America. don%26#039;t worry i have physical proof of this.

To Hockey G: LOL. That was funny and good at the same time.LMAO!!!! ya you best pay taxes. Even though the bastards on capitol Hill seem mentally dysfunctional, we still have to take care of our ppl. They count on us.|||maybe Bank of America already know that the Mexican community is a big community of people who%26#039;s work hard and they like to pay them back,that means with responsibility, because the people with SSN like to fill up the bull **** Bankruptcy and then,the responsible people have to pay for them,|||Not crazy to bank of america. its strictly business. Illegal immigrants got money to spend and b of a is trying to cash in. have you just now noticed that illegal immigration is all about economics? this doesnt suprise me. It doesnt scare me either.

Oh my goodness!!!! AUTO INTERST RATE SHOCKER.?

i went to bank of america online site to fill out a pre-aproved auto loan app. i was denied like 2 seconds after i hit the enter key on my keyboard. i called them and they say because i have not used credit in almost 7 years the enhanced auto bureau credit request that they pulled would not rate me. they also say that i would get a very high interest rate because i have not used credit in so long. they said i had what is called DORMANT credit. what in the world should i do. i have worked my but off to pay of the things on my credit report and i saved and bought everything in cash. i do not even open credit card offers. they go straight to the trash. i pulled my credit report and it says i have a 708 beacon score. what is going on. i was shocked to hear this info. is it true and how do i get around the high interest rate just because i have not bought things on credit for a long time. i am in the market for a 2007 toyota tundra. PLEASE HELP........

Oh my goodness!!!! AUTO INTERST RATE SHOCKER.?credit score

You are still alright. The credit union is a good starting place, as are new vehicle dealerships, and do both. Car dealers are aggressive lenders and will do everything possible to deliver a vehicle, and then some, so you have them working for you.

What you can expect and will need to counter at the dealership is the fact that your credit score/history is not based on paid accounts and active credit, but older inactive credit. The argument from the lender%26#039;s side is that your credit reflects what you %26quot;did%26quot;, not what you %26quot;are doing” which is more reflective of how a borrower will perform.

Now, words of caution! DO NOT accept the banker%26#039;s opinion and feel like a third class borrower begging for a loan. Bankers are a different breed of lender than is a Credit Union lender or a Finance person at a car dealership. CU lenders are motivated to assist you, Finance people are motivated by assisting you and getting paid when they do, and it is their job to be certain that what is sold is financed and DELIVERED.

The other factors that will be weighed for you are (1) income, (2) current and predictable job stability, (3) savings accounts, and investments. (4) home ownership and equity, (5) gross income, (6) down payment, (7) time in the community, at your current address (not a negative if only a short time if you are a longer term area resident, (8) partner income, (9) and a previously paid vehicle loan, (10) attitude, yes attitude, an air of confidence and positivism, %26quot;I am creditworthy, I can and WILL repay, and I am not interested in your high interest quotes. I expect the best interest rate available, and I will shop till I get it.%26quot;

The reason the above items pertain to a loan is that the lender wants to BELIEVE that you CAN and WILL repay the loan. I assure you that there are buyers that can repay a loan yet are turned down for a car loan because it does not appear they will repay. Why? If they have not and are not paying other lenders why would they repay this loan?

You are in an OK place, perseverance and patience will win with a positive and confident attitude. A lender may ask you directly what%26#039;s going on in your world-be prepared to answer with a positive statement that you were maintaining your good credit so that when you were ready you could buy a vehicle. Positive is a major plus. Again, perseverance and patience will get you there.

besttoyou, Chuck

30 years/thousands of car deals

http://www.thebestdealofyourlife.com

Oh my goodness!!!! AUTO INTERST RATE SHOCKER.?

loan

It was stupid of you to never use a credit card. It IS bad to have a lot, but its smart to have one or two to build up your credit. There%26#039;s nothing you can do now because you haven%26#039;t done anything to show that you can be trusted.

Get a credit card and start paying it off. Stupid.|||Try other lenders, especially credit unions. On my last car purchase, a local credit union came up with a better deal than the bank (with which I have dealt for twenty years).|||Believe it or not, having %26quot;no%26quot; credit is worse than having bad credit when it comes to obtaining more.

Find a dealership with a really strong finance manager. This person will have many years of experience in the same market and solid relationships with local lenders, you%26#039;ll be amazed at what they can get done.|||How is this an %26quot;interest rate shocker%26quot;?

Bad Credit Looking for New Car Loan is this Possible?

I live in Boston, MA. I was wondering do anyone know any credit card company that will offer me a line of credit for a car loan. I need about 19,000/k. Which I will pay of in 48months.

If there is a way to do this. I have bad credit and will think having a car loan will be a great way for me to rebuild my credit.

Bad Credit Looking for New Car Loan is this Possible?signature loan

You CAN get a decent car loan, even with bad credit. I%26#039;ve done it, but you%26#039;ll have to look around. That%26#039;s one of the BIG mistakes people make...just taking the first offer that%26#039;s given to them when they go to the dealer. Be smarter than that.

WARNING: DON%26#039;T GO TO BUY A CAR WITHOUT HAVING THE LOAN FIRST. The auto dealers will eat you alive and give you a crappy rate. Shop around with lenders who specialize in bad credit car loans. It%26#039;s a better option, you don%26#039;t have to take what they%26#039;re offering if you don%26#039;t want it, and it%26#039;s better than dealing with the car dealer%26#039;s people.

There are usually some nationally based car loan companies who specialize in bad credit car loans who advertise on the page linked below...

http://www.axalda.info/bad-credit-car-lo...

Bad Credit Looking for New Car Loan is this Possible?

loan

Car Loan Guide: http://carloanguide.automobile... Report It

|||People-to-People Lending. It%26#039;s an old idea that%26#039;s new again.

People who need money request it, and other people bid for the privilege of lending it to them. Prosper makes sure everything is safe, fair and easy.

Until now, financial institutions have controlled who is able to obtain credit and the rates people pay, over time, this one-sided control has bred inefficiencies and excessive margins 鈥?leading to higher rates for borrowers, and restricting people who have money to lend from entering and generating income from this vital and lucrative market.

Prosper gives people the opportunity to take back the marketplace for consumer credit, Prosper aims to make consumer lending more financially and socially rewarding for everyone by letting the borrowers set the maximum rate they are willing to pay a lender, which prevents the loan from being funded at a rate higher than the borrower wants to pay.

http://www.prosper.com/join/GlobalFundin...|||Apply with E-loan or Ecarlenders.com. They both have bad credit new car financing.|||If you are serious about rebuilding your credit you should check out the solutions at http://www.your-credit-solution.com/cred... . They offer several solutions to increase your credit score. Then you will be able to buy any vehicle you want.|||It depends on how bad your credit is. But often, the dealer can get you financed even if you might have a hard time finding a loan on your own. If they can%26#039;t, then find a cheaper car to buy.|||Interesting.

Others think you are a bad credit risk. And you want to find a sucker to lend you $19,000 for a NEW CAR before you repair this bad credit.

Sounds like caviar dreams with tuna fish credit to me.

My suggestion for you is

1) dream high

2) start low with a cheap, reliable used car

3) and work you way up the credit food chain

We normal folks call this evolution.

When you violate the natural order of things, people will naturally violate you.

Your question smacks of fantasy, while my answer smacks of reason.

Good luck!|||Today every person has need of car, because it has become the necessary need for the people and status symbol also. If you have bad credit history or poor credit history and look for purchase a car, then it is very tough for you. Due to bad credit history, lenders are not keen toward%26lt;!--providing you loan, but do not be discouraged.Generally, bad credit car loans are available at higher interest rate, but you can take at competitive interest rate after placing your assets as collateral in secured bad credit car loan. You may find some car loans here,

http://badcredits.awardspace.com/guarant...

You also can grab bad credit car loan without keeping your asset as collateral, but you have to pay competitively higher interest rate. Hence--%26gt;you can take this loan at better rate, because competition among lender.You can reduce your interest rate after talking with the lender|||Usually, car financing companies gather the credit information of a customer and decide on the type of financing needed. The company sends this information directly to an authorized dealer. A customer is pre-qualified for the loan, based on the final authorization of the dealer. If the customer fails to get the finance, the finance company offers recommendations on how to improve the credit ratings.

http://debt-trap.com/category/Bad-Credit...|||Below Site is Home of the Loan for every need. Learn about Personal Loan, Student Loan, Auto Loan, Business Loan, Home Loan, Bad Credit Loans or Loan Consolidation. Search for the lowest loan rates; compare lenders, Shop for loans. Loans made fast and simple. Don%26#039;t worry about Bad Credit and No Co-signer needed. No Upfront.

http://lnk.in/56f2

E-Z financing?

Ok, I have bad credit, I mean Bad! I would like a new computer, but none of the manufactures will finance, and I don%26#039;t want to pay $600 over three months to get a computer that is one year old. Should I be leary of companies that offer financing for %26quot;bad credit%26quot;? What is the best, and fastest way to build my credit back to an acceptable level; in order to get financing? I%26#039;ve recieved some credit card offers in the mail, but when I look at the fine print I%26#039;d have a $300 balance before I made my first purchase! Is there REAL help for individuals like me with bad credit?

E-Z financing?rate my

You have two questions - how to repair credit and how to purchase a computer now. The answer to your second question is - you will need to pay cash.

To re-establish credit, you need a history of payments. The easiest way is to get a secured card, where you put money into a savings account, and the credit card line is then the amount in the savings account. Most banks will do this up to about $5000. They bank will do it for anyone who has a verifiable identity (soc sec #, driver%26#039;s license) because they can%26#039;t loose. Every transaction gives them a small fee from the merchants, and if you fail to pay - they just close the card and your savings account - and pay off the debt.

Use that secured card, pay it off each month, and after 12 months you will have made a big dent in re-establishing credit, to the point where they might offer you an un-secured card. Your credit score will need to be above 620 at a minimum for you to get an unsecured card - so if you don%26#039;t qualify at 12 months (minimum time), you will after that once the credit score is good enough.

Yes - those cards where you owe $300 right off the bat are very very bad. You%26#039;d be better off putting $300 into a secured card which will cost you zero in fees, or very close to it.

Your other action must be to pay off anyone who you still owe money to. Those bad accounts will begin to wash away in effect (though still reported) after about 18 months.

E-Z financing?

loan

Many lenders, banks in particular, don%26#039;t deal in any sort of secured loan other than second mortgages. Other institutions deal almost exclusively in secured loans. Finance companies that deal in secured loans can be found in your phone book, newspaper, and increasingly, online.Shop%26lt;!--around and compare interest rates on loans and the terms of repayment with several different lenders. You%26#039;ll find many internet sites that let you request a loan rate quote from multiple lenders at once. You can find more information on bad credit loans here,

http://badcredits.awardspace.com/

Once you%26#039;ve submitted a request for a loan quote, you%26#039;ll be contacted by representatives from several companies--%26gt;and can get a good idea of what each can offer you in terms of interest and other finance charges and fees. Choose the best one for your needs, and apply for the loan. It%26#039;s that easy.

Which is the Best Sky Miles Card?

There are a lot of different credit cards out there that offer sky miles, but I know they are not all equal. My parent%26#039;s have an Alaska Air card but I know they haven%26#039;t always been satisfied since there are often severe restrictions regarding which flights they can use their miles toward. I would like to find something with a little more freedom. I use my credit card for everything so I finally decided it may be smart for me to have such a card.

Please answer even if you only know which cards I should avoid.

Thanks All!

Which is the Best Sky Miles Card?rate my professor

Sky Miles is Delta%26#039;s branded frequent flyer program, so I assume that%26#039;s what you%26#039;re referencing. You can get a Sky Miles credit card through American Express at https://www201.americanexpress.com/cards...

Actually I have found the Alaska Visa Card from Bank Of America to be a good program. There%26#039;s a $75 annual fee, but if you use the $50 companion ticket that comes with it every year, that more than disappears. There are not a lot of restrictions on awards travel on Alaska. 40,000 miles RT will get you on any plane, and most of the time I%26#039;ve found the 20,000 mile RT seats are pretty available.

Balance transfer....?

Okay, so I have about $3000 in debt, from two credit cards, Discover and WAMU that gave me an introductory rate of 0% until March.

I%26#039;ve been paying the minimum or more, every month, so that I won%26#039;t get penalized for late payments.

I%26#039;ve also got a few credit card offers that offer 0% APR on balance transfers for 12months!

If I were to transfer my balance, what are the disadvantages for doing so?

What about the interest? Those cards that I got were 0% APR introductory rates, but if I were to transfer, would the interest accumulate, when I transfer the balance, OR would it just stay as $3000?

Balance transfer....?payment calculator

You need to find out (1) if there is a minimum amount of time you are not allowed to transfer you balance except with a penalty. Some cards allow the into rate only if you do not transfer the balance for a period of time. Look to your agreement or call up and ask; (2) See if the new card you are transferring to charges a transfer fee - some do charge a minimum fee or a percentage. If the answer to the first question is there is no minimum time or you are past the minimum time, and the answer to the second question is there is no fee - the you are fine and it will be a seamless transfer which extends the 0% APR.

Balance transfer....? loan

The big disadvantage with a balance transfer is that you don%26#039;t address the cause of your financial problems. Unless you commit to getting on a budget and spending less than you earn, you%26#039;ll never succeed financially. Shred the cards and start paying cash for everything.|||0% offers often have a 3% fee for balance transfers. If that is still ok look for a better offer which offers a longer period at 0% because after 0% the interest rate goes up to a bad number 12%+