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Jesi Naomi
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Help with building credit

Jesi Naomi
Posted Jan 26 2024, 14:18

High BP, I’m very new yet have had years of credit cards, building credit and working on consolidation. 

My question is if a credit card company closes out your card/ account from not using it overtime does this affect your credit poorly? I’ve been told if you personally close your own account it will affect your credit, and that if a bank closes your account due to inactivity, it does not affect your credit. 

(what if you have too many credit cards and you’re trying to consolidate them and you wish to leave them alone and let them close?.)

I have student loans that were just recently forgiven, through the SAVE program. I’m additionally, wondering if that’s gonna affect my credit.
If anybody out here, has any advice or resources for building, credit personally, and for your business specifically, I’d so appreciate it.


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Alecia Loveless
Pro Member
#3 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
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Alecia Loveless
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Replied Jan 26 2024, 23:09

@Jesi Naomi Hi Jessi, I’m not sure about the question about a bank closing your credit card maybe someone more knowledgeable will chime in. I think maybe that’s right though because I had a store credit card and they closed it due to me not using it and I don’t recall it dinging my credit.

For me the appropriate number of credit cards is 4 with kind of higher limits, $15-20,000 and then I’ve got a Lowes card and getting higher credit on that thing is like pulling teeth! Lol

The only reason I can think of that having your student loans forgiven (congratulations!) would hurt anything would be it might decrease the number of types of debt you have but I’d just be happier to have less debt and work on building up your credit score in other more positive ways like paying off some credit cards if you have balances on any of them.

Each time you clear a balance off a card it reports great things to your credit score!

I’d look at the cards you’ve had the longest and see if the terms on those make sense to keep them because the length of your credit history counts somewhat significantly. If those cards aren’t good then I’d just look through your cards and decide how many I was going to keep and make sure my logic was solid and if I had debt on them work to get it paid off and then like you said just let the rest die off from lack of use!

Best of luck!

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Jesi Naomi
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Jesi Naomi
Replied Jan 30 2024, 11:30
Quote from @Alecia Loveless:

@Jesi Naomi Hi Jessi, I’m not sure about the question about a bank closing your credit card maybe someone more knowledgeable will chime in. I think maybe that’s right though because I had a store credit card and they closed it due to me not using it and I don’t recall it dinging my credit.

For me the appropriate number of credit cards is 4 with kind of higher limits, $15-20,000 and then I’ve got a Lowes card and getting higher credit on that thing is like pulling teeth! Lol

The only reason I can think of that having your student loans forgiven (congratulations!) would hurt anything would be it might decrease the number of types of debt you have but I’d just be happier to have less debt and work on building up your credit score in other more positive ways like paying off some credit cards if you have balances on any of them.

Each time you clear a balance off a card it reports great things to your credit score!

I’d look at the cards you’ve had the longest and see if the terms on those make sense to keep them because the length of your credit history counts somewhat significantly. If those cards aren’t good then I’d just look through your cards and decide how many I was going to keep and make sure my logic was solid and if I had debt on them work to get it paid off and then like you said just let the rest die off from lack of use!

Best of luck!


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Yoochul C.
  • Financial Advisor
  • Glendora, CA
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Yoochul C.
  • Financial Advisor
  • Glendora, CA
Replied Jan 31 2024, 12:18

Hi there,

I have an excellent idea for you to reduce your student loan balance.  We can show you how to shift some of your investments assets from the taxable to the non taxable bucket.  Using this tax free bucket, you can borrow against it at very low rates to pay off your student loans.  Please let me know if you want to explore this.

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Jesi Naomi
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Jesi Naomi
Replied May 9 2024, 12:20
Quote from @Yoochul C.:

Hi there,

I have an excellent idea for you to reduce your student loan balance.  We can show you how to shift some of your investments assets from the taxable to the non taxable bucket.  Using this tax free bucket, you can borrow against it at very low rates to pay off your student loans.  Please let me know if you want to explore this.


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Jesi Naomi
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Jesi Naomi
Replied May 9 2024, 12:26
WONDERING also if you do these kinds of things with Back Taxes- we ( my husbands BIZ and I ) are working on consolidating his business loan (bout 20k) from the pandemic days and then this back tax of 28k from his previous divorce days-  both very high in interest- and before we paid our work van off a consolidation program I reached out to was like - uh we can't help you-  anyways Im sure you can find my contact info via BP- my membership will close here soon as I will be back when we're closer to buying our first home- I am focused on building my business and such- Jesi Naomi on Social media - would love to talk- I love this membership - I just need to cut down on costs I haven't been using while getting our finances in order.