Luke T asked:


I bought a jacket last month with a credit card, immediately paid off the balance, as I always do, but have now decided to return the jacket for a refund. How will this be handled by the credit card, as my balance currently sits at $0? Will the credit just sit there on the credit card account until I charge up to that amount? Would I be able to have that amount transferred back to my bank account? Thanks.

Peter

reda asked:


I would like to settle a few closed credit accounts that have been charged off and bought out by debt collectors. The collection agency is offering me a discounted rate to pay off this account. If I choose this option, will my credit report eventually show this account closed and paid off, as stated by the agency?

Jamie

Stuck in the Middle Ages asked:


What happens to one’s credit when the person’s sole credit card is taken and used illegally? We’re not sure how this will affect efforts to refinance, as this is my wife’s only credit card. She will be receiving a replacement in the next week and will have an affidavit indicating that the charges were not hers.

Any suggested approaches to ensuring that her credit info is considered before the card was stolen and the account closed?

Pamela

Sara asked:


I received a letter in the mail from Juniper (iTunes Rewards) stating that they have closed my credit card account due to inactivity. I opened the account about 18 months ago and have never actually used it. Can they close my account just like that without any warning? How should I handle the situation? (Is there anything I can even do?)

Also, I know that closing credit card accounts lowers your credit score. Does anyone know how much mine will be affected?

Herman

Seaman asked:


I recently went over my credit limit by $10 and noticed that the credit card account (Cap One) was reported as delinquent on my equifax credit report? How can this happen and what are the consequences to my credit rating/score? Thanks for your response.

Adrian

Mrs. E asked:


Im currently disputing a lot of derrogatory info on my credit reports from all 3 agencies. I currently have no major credit cards and was informed that if I opened a credit card account and made the payments on time that would up my credit score.

Brittany