Credit Repair Questions & Answers

msc44 asked:


I want to get a frequent flyer credit card but I already have 3 credit cards with generous limits. I don’t need these credit cards and I would like to cancel them and have this “possible credit” to go towards the new card. I heard once that canceling a credit card has a negitive effect on your credit score. Is this true? If so, how do I switch credit cards and avoid affecting my credit score in a bad way?

hydra1970 asked:


What impact does closing credit cards have on your credit score?
I have a number of credits that I am not using. What impact if any would closing some of these accounts have on my credit score?

csss s asked:


I have posted a few times but need more specific info. The cards I see charge 200 dollars in miscellanious fees just to get the card for a 250 dollar limit. Will it really help to have this card? It seems like extortion,but Im wondering if i need to do it anyway. I want to do something. Is it the same effect on my credit if I have a secured card? I need help please, and thank you