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Credit Card Q&A

How does your behavior with credit cards affect your score? See Audrey’s answer to this and more credit card questions.
Q: I improved my credit score using four cards with low credit limits. I’ve since opened cards with higher limits. Should I cancel these “starter” credit cards?
Q: I have a company credit card in my name that was paid late last month. Is this going to hurt my credit score?
Q: My credit card company just increased the spending limit on one of my cards. What kind of effect will this have on my credit score?
Q: How does an increased spending limit on a credit card affect my score?
Q: My credit scores are around 730. I recently applied for and received a charge card to get the rewards. Do charge cards have a negative affect on your scores?
Q: I’m almost at the credit limit on the two credit cards I have. Could opening a third card help to bring my credit score up?
Q: I’m getting ready to apply for a mortgage. My credit card company has augmented the credit limit on a card. Will this be good or bad for my score?
Q: I received a letter from a credit card company saying I am “pre-approved” for their card, but I never applied for it. Will this hurt my credit score?
Q: One of my retail credit card issuers is closing my account due to inactivity. Will this hurt my credit? Should I use the card to keep it active?
Q: I'm proud to say my daughter is leaving for college soon and I wanted her to have a credit card for emergencies. But every time she applies for a credit card, she gets declined! What can she do to get her credit card for college?
Q: I'm trying to build my credit and have been using a secured credit card for a few months. I recently applied for a standard credit card but got turned down. Is it best to continue using this card, or should I apply for another type of credit card, such as a department store or gas card?
Q: I improved my credit score using four cards with low credit limits. I’ve since opened cards with higher limits. Should I cancel these “starter” cards?
Q: Recently in a store, when I tried to use my credit card, I was told that I’d reached my limit. I thought it was much higher. Don’t credit card companies have to tell you when they lower your credit card limit?
Q: My 16 year-old daughter has been lobbying us hard for a credit card. She says some of her friends have special credit cards for kids. Is that true?
Q: If I've already agreed to fees for going over my credit limit on a credit card, do I have the right to change my mind and tell the issuer to deny transactions that would trigger a fee?
Q: I’m traveling on vacation and I was just told I’m over my credit card limit, even though I know I had credit available. Why did that happen?
Understanding Your Credit Score and How Credit Scoring Works
What Affects Your Credit Score?
Credit Report Scoring
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