Low Interest Credit Cards

John, how is your credit score? This question has been asked many times from you and still you have the same answer “Don’t Know”. If you have credit, then you have got credit score as well. It may be high, low or in the middle. The best the thing about the credit score is, it can be repaired and adjusted any time, but it depends on your financial history.

A credit report score is completely based on the credit history of individual. You can get any number of credit cards and loans on your name, but if you fail to make the regular payment, it is going to affect your credit score. This

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Question:

I want to remove my name from 2 accounts as authorized user due to divorce. Will this affect my credit score? should I contact these 2 companies and request my own account?

I need my good credit to start over and do not want to have this hold me back. What is the best thing to do?

Answer:

You need a mix of credit accounts to build the highest credit score. You need revolving credit card accounts, a vehicle loan, and consumer loans (such as a student loan or a signature loan). The issue you need to focus on is the length of your credit history. If the two accounts you mentioned are the oldest in your credit report, then by closing those accounts you will damage your credit score. Therefore, if possible refinance the accounts in question if they are your oldest.

As you are inquiring about how to improve your credit score, let me give you some information on how a credit score is calculated.

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