Freaking out a little bit about a credit card

[Anonymous]

Anonymous wrote:

Anonymous wrote:Get a new card TODAY (online) and do another balance transfer. It'll cost you 3% instead of 24%

General wondering (not OP), isn't that considered closing an account? If so, although the OP has a credit score of over 800 which is very good, that could damage her credit a little bit.

No, that's simply paying off a balance. Closing an account means you have to actually request the account is closed.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Get a new card TODAY (online) and do another balance transfer. It'll cost you 3% instead of 24%

General wondering (not OP), isn't that considered closing an account? If so, although the OP has a credit score of over 800 which is very good, that could damage her credit a little bit.

No, that's simply paying off a balance. Closing an account means you have to actually request the account is closed.

Understood.....sort of.

So, in terms of a credit report, you would see the original card, with, for example a 1K balance, then one opens another card and does a balance transfer with that same 1K, the credit report would show both cards and one being paid off, and the other with the 1K balance, correct?

[Anonymous]

Correct.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Does he ever check credit scores ? Because if he does whether you pay this off or not it shows up on the credit report.

The best thing to do is just tell him about the card. He will be mad because you are cheating financially but maybe it's best to get it all out in the open.

No more sneaky purchases, no more stress, get on the same page and merge your money. That way way you're both faithful.

??

NP. My husband doesn't check my credit score, and I don't check his. We knew what each other's was when we bought a house a few years ago (both 820-830), but do people really check a spouse's credit score unprovoked?

My husband checks my credit score and credit report regularly, and also doesn't give my any access to money.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Does he ever check credit scores ? Because if he does whether you pay this off or not it shows up on the credit report.

The best thing to do is just tell him about the card. He will be mad because you are cheating financially but maybe it's best to get it all out in the open.

No more sneaky purchases, no more stress, get on the same page and merge your money. That way way you're both faithful.

??

NP. My husband doesn't check my credit score, and I don't check his. We knew what each other's was when we bought a house a few years ago (both 820-830), but do people really check a spouse's credit score unprovoked?

My husband checks my credit score and credit report regularly, and also doesn't give my any access to money.

Your husband sounds like a dick.

[Anonymous]

Anonymous wrote:Get a new card TODAY (online) and do another balance transfer. It'll cost you 3% instead of 24%

If you were single, I'd suggest this. But you are married and you really shouldn't hide these types of things from your DH. Be honest - not just about the card, but your feelings about not having your own card in your own name.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Does he ever check credit scores ? Because if he does whether you pay this off or not it shows up on the credit report.

The best thing to do is just tell him about the card. He will be mad because you are cheating financially but maybe it's best to get it all out in the open.

No more sneaky purchases, no more stress, get on the same page and merge your money. That way way you're both faithful.

??

NP. My husband doesn't check my credit score, and I don't check his. We knew what each other's was when we bought a house a few years ago (both 820-830), but do people really check a spouse's credit score unprovoked?

My husband checks my credit score and credit report regularly, and also doesn't give my any access to money.

How are you able to post from the year 1955?

[Anonymous]

^ Is there some reason your husband doesn't trust you with money? Are you a compulsive shopper or something?

[Anonymous]

I am the op. My husband has never checked my credit score. Ever. I am not the one who wrote that. That is a different poster.

[Anonymous]

Anonymous wrote:OP, you're literally stressing over <$20 if what you say is true. 25% (APR) of $1,000 (Current Balance) is $250. $250/12 = $20 (Monthly interest). And that's if you DO NOT pay $700 now. In that case, when your interest is recalculated the following month, it will be 25% of the new principal which is $300. That will put your May statement interest charge at ~$7! Sheesh! Can you stop whining already?

THIS - it's not that big a deal financially, especially if you can pay the $700 now. The amount of interest you will pay will be minor. 25% is the APR - annual percentage rate.

[Anonymous]

It's totally normal to want to have a card in your own name.

BUT....You shouldn't have to keep it secret, or money problems secret, from your own husband. This is a huge red flag. Huge. We don't know the full story here but it's just not normal and I urge you to totally reconsider your financial arrangements with your DH, whether they are fair, and go about changing them if they are not fair.

[Anonymous]

annoying dumb post

[Anonymous]

You probably have a high score because you have piggybacked his. No way you have a score in 800s considering how clueless you are about credit cards and how the interest is calculated.

[Anonymous]

Anonymous wrote:You probably have a high score because you have piggybacked his. No way you have a score in 800s considering how clueless you are about credit cards and how the interest is calculated.

Actually before we were married all of my stuff was in my name. Car, credit cards etc... And I always paid on time and other than my car which had or ether interest already calculated for the terms I never carried a balance on cards until now on this one card. But thanks for your rude comment. You sound like a peach.