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Non-Tech : Kirk's Market Thoughts -- Ignore unavailable to you. Want to Upgrade?

To: Jerome who wrote (2419)	12/15/2014 2:40:19 PM
From: Ken Adams	Read Replies (1) \| Respond to of 26856

Many years ago, before retiring, my brother was a mortgage loan manager for a good sized bank near me. At that time he advised me to get rid of credit cards I really didn't need. The reason at that time (may not be true today) was that credit ratings were affected by the amount of credit you had available to you. In other words, how deep in debt you had the potential of putting yourself into. I was carrying a pocket full of them, mostly unused. I got rid of all but a couple. Fast forward to a couple of years ago and I realized I was still carrying a Sears card dated 1965.... and I don't remember ever using it since getting it to buy 2 new tires back then. LOL

To: Jerome who wrote (2419)	12/15/2014 4:06:31 PM
From: Kirk ©	Read Replies (2) \| Respond to of 26856

Not a terrible idea You got a good plan. But there are reasons to have several credit cards even if they have a zero balance.A few months back I bought a very nice Chevy Pick up (4x4) for 10K and used my credit card to buy it. Zero interest for 18 months . but if you figure out how to do this I prefer to tell the dealer I will pay with a CC, which ads to the cost they pay, unless they give me a discount of half the savings. Most dealers will give zero percent financing or cash back. A discount for cash on the purchase price is ideal as it means lower annual property taxes too. When you keep cars for 15 or 20 years as I usually do, that property tax savings can add up.