Money Matters
sunrise135
member
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Hi
Hi everyone! I have been lurking here for a while and thought that I would chime in and say HI! I am proud to say in the past six months we have paid off two credit cards and working on a third.
I have a question though. One card is a VISA that is completely paid off (the other is a department store CC). We thought about closing it out, but not sure if this will hurt our credit? Then I thought, because we are working on trying to build an Efund, is it stupid to hold onto that Visa as part of our Efund rather than closing it out? The cards are locked in a safe in our house and we do not carry it around with us.
What are your thoughts? Utilizing a CC for Efund? or Close it out?
Re: Hi
Unfortunately, the reason we got into issues with the Visa and our third card we are paying off was due to medical reasons. I had major medical issues and accumulated 35000 in bills over a short period of time (with insurance and at a time I was between jobs). The cards were our go to- to keep us afloat.
Not the best decision, but it was what we had to do to survive. We learned from it, it's in the past, and we are moving on and making wiser choices with our money now, incase something like that happens again.
Welcome and congrats on paying off your two cards. I concur with the other PPs. Nothing wrong with keeping them open and just not using them. Generally speaking, closing credit cards can hurt your credit score a little bit, not help it.
In fact, I'd also make a plan to purposely use each card once every six months...just for something small...and then pay off the balance. This will keep the cards active. Sometimes, if a cc hasn't been used for 1-2 years, the cc company will automatically close the account.