What is the name of your state? AR
My first question: A coworker once told me that by having too many unsecured debt accounts open, regardless of the fact that they have a zero balance, that it will lower your beacon score....and that we should contact accounts with $0 balance and have them closed completely to improve our score...Can this be done?
2nd Question: My husband and I have 2 Chase accounts and we received the statements the other day showing where they had gone from 7.9% to 15.9% and the other from 9.9% to 25.9%!! We are, nor have we ever been late with payments.....despite the fact that my husband lost his job in Feb. and we went 2 months without getting behind on ANY of our bills. When I called and asked why the rates went up since we've not defaulted, the man stated that it was because of our debt ratio that the % rates went up. Can this be done? I thought they would only do that if someone was late on payments. We're operating on 1/2 the salary we had before, so this will make it impossible to get the things paid off. We've relocated out of state for him to take on a new job and I'm looking now, but that's beside the point. We will make our bills, but it feels like a slap in the face after all we've been through trying to keep our good credit. I've never had less than excellent credit, and I don't want to start now. Please don't chop me to mincemeat here...
. Just looking to do what's right and pay the things off. Can someone tell me if they can raise the % rate like this? When we moved to another state and bought land and a home in May, all the credit checks were done at that time....Why would they wait 3 months afterwards to up the %? Thanks in advance. (Sorry...I don't mean to be whiny)
My first question: A coworker once told me that by having too many unsecured debt accounts open, regardless of the fact that they have a zero balance, that it will lower your beacon score....and that we should contact accounts with $0 balance and have them closed completely to improve our score...Can this be done?
2nd Question: My husband and I have 2 Chase accounts and we received the statements the other day showing where they had gone from 7.9% to 15.9% and the other from 9.9% to 25.9%!! We are, nor have we ever been late with payments.....despite the fact that my husband lost his job in Feb. and we went 2 months without getting behind on ANY of our bills. When I called and asked why the rates went up since we've not defaulted, the man stated that it was because of our debt ratio that the % rates went up. Can this be done? I thought they would only do that if someone was late on payments. We're operating on 1/2 the salary we had before, so this will make it impossible to get the things paid off. We've relocated out of state for him to take on a new job and I'm looking now, but that's beside the point. We will make our bills, but it feels like a slap in the face after all we've been through trying to keep our good credit. I've never had less than excellent credit, and I don't want to start now. Please don't chop me to mincemeat here...
. Just looking to do what's right and pay the things off. Can someone tell me if they can raise the % rate like this? When we moved to another state and bought land and a home in May, all the credit checks were done at that time....Why would they wait 3 months afterwards to up the %? Thanks in advance. (Sorry...I don't mean to be whiny)