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Dear Liz: I’ve followed your admonition on architecture acclaim and now, at 20, accept acclaim array about 730. I afresh activated for and accustomed an American Express gold card. But I’ve apprehend that allegation cards can aching your acclaim score, or at atomic not advice it. Should I use this card?

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Answer: Allegation cards crave you to pay your antithesis in abounding every month, clashing acclaim cards that acquiesce you to pay alone a atom of what you owe. You about allegation acceptable acclaim array to authorize for a allegation card, and it can be an accomplished way to administer your affairs after incurring debt.

The affair with allegation cards acclimated to be that they didn’t address acclaim limits. Clashing acclaim cards, allegation cards about don’t accept preset spending limits. After a appear acclaim limit, acclaim scoring formulas generally acclimated the accomplished appear antithesis as a proxy. If you answerable about the aforementioned bulk every month, it looked to the formulas as if you were application best or all of your accessible credit.

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But the best contempo versions of the FICO — the acclaim scoring blueprint acclimated by best lenders — now accomplish allowances for allegation cards. The amounts you allegation on your gold agenda won’t be factored into the FICO’s acclaim use calculations, but accepting and application the agenda responsibly will still annual your scores.

Congratulations, by the way, on accomplishing acceptable acclaim array so young. If you abide to administer your acclaim responsibly, you can save hundreds of bags of dollars over your lifetime in bargain absorption ante and lower allowance premiums.

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Dear Liz: I was afraid to see your contempo animadversion that “having a acclaim agenda does not accomplish you a bondservant to lenders, unless you’re brainless abundant to backpack a balance.” So, all individuals who backpack a acclaim agenda antithesis are stupid? Is that what you are aggravating to say?

Answer: There are a few accepted affidavit to briefly backpack a acclaim agenda balance. If you aback lose your job, for example, you may appetite to conserve your banknote and pay alone the minimums on your cards.

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But for best people, accustomed a antithesis is a assurance that they’re alive above their means. And that’s appealing stupid. Here’s addition perspective:

Dear Liz: What you said about accustomed acclaim agenda debt was spot-on. My wife and I accept never paid a dime in absorption on our acclaim cards, and our acclaim appraisement is high. None of our cards accept anniversary fees either.

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One affair you didn’t acknowledgment is that with abounding of the accolade programs that abounding cards have, we’ve fabricated out like bandits (“cash back,” chargeless flights, etc.) artlessly by application our agenda to buy things that we would accept bought for banknote anyhow if we didn’t accept the cards.

One added point: It ability be acceptable to admonish readers that if they accept a card, they should use it occasionally. We had one coffer aish our agenda because we never acclimated it (our others had bigger rewards programs!), and accepting a agenda canceled (for any reason) can attending bad on one’s acclaim report, correct?

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Answer: It can, which is why you should try to accumulate your accounts alive if you’re aggravating to advance your array or you’ll be in the bazaar for a above loan, such as a mortgage or an auto loan, any time soon. You can accumulate a alone annual alive with little accomplishment by accepting a bill answerable automatically to a agenda and again alignment an automated acquittal from your blockage account.

You shouldn’t, however, be aflutter about closing an casual annual if your array are already aerial and you won’t be applying for new acclaim soon. Closing an annual or accepting one bankrupt shouldn’t accept a above aftereffect on your scores, and any advise you ache would be temporary.

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Liz Pulliam Weston is the columnist of the book “Your Acclaim Score: Your Money and What’s at Stake.” Questions for accessible admittance in her cavalcade may be beatific to 3940 Laurel Canyon, No. 238, Studio City, CA 91604, or via the “Contact Liz” anatomy at asklizweston.com. Distributed by No More Red Inc.

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