i manage a hud facility and our company policy is to allow bad credit if you have no outstanding utility bills on the credit check; medical bills are generally ignored; proof that you are making amends to creditors-so maybe other companies are the same. by the way, our facility is not for elderly or disabled per say, and we have no openings right now--good luck
Can I get into a HUD home for the elderly and disabled if I have a bad credit rating?
YES YES AND YES
Wednesday, March 17, 2010
Does it help your credit rating to have more than 1 credit card?
From the same bank?
Does it help your credit rating to have more than 1 credit card?
It does help as long as you have financial discipline and don't misuse the credit.
Ideally it helps the most if you have a good mix on your reports - major credit cards, store cards, mortgage, car loans, etc.
Having more than one card from the same bank does not hurt either.
If you have a pretty thin file - short history and/or few accounts, you will take a pretty good hit on your scores for both the inquiry and the reporting of the new account. But, the inquiry will mean less around 6 months and, for the most part, mean nothing at the one year mark.
If the new account is kept in good standing, you should see an improvement in your scores at the 4 to 6 month mark.
If you already have quite a few accounts that are in good standing and with fairly long history, you won't be dinged as hard for either the inquiry or the new account.
edited to add - I agree with everything sandmom had to say, and that creditboards is my favorite site also
Reply:If lets_be_logical was actually a 'nationally known' anything, he would give his NAME. Report Abuse
Reply:it dont matter one way or another if you have more than one card from the same bank.
it does matter as to how many revolving accounts you have, what the limits are, and how long they have been open.
I had no revolving cards and was denied credit because of it regaurless that i was making lots of money. i applied for a really easy one and bam my credit limit was only $500 but my score jump about 20 points instantly tehn another one $500 and about 10 piont jumpt these were both from teh same bank. i then got another card $500 got about 7point score and two other store cards another 4 points from the frist one then zero point increase from the last card so that is were i stopped. once i hit the 6 month mark i got another 11 point increase.
having a mix of credit is very important. get cards that you are going to use, do just go on a card getting spree. inquires will sometime hurt your score so becareful of how many you applie for and only applie for those you think you will get.
take care of your credit. pay in full each month and you will see your credit score sore. become a member of a credit forum too where experts in this field help each other. my favorite is creditboards.com my fico when from 550 to 670 in less than a year thanks to their help. good luck.
Reply:The best score is achieved with 1 major credit card and 1 store card. Nothing more, nothing less.
Reply:Speaking as a nationally known credit score and lending expert (book, radio shows, newspaper columns, etc.)...
You want as big a credit line as possible for best score. BUT, opening a new account CAN hurt your scores until the account gets older and is used correctly.
If you cannot get approved for anything more than $750 limit credit cards, do NOT open ANYthing except secured cards at Wells Fargo and/or Bank of America.
These are the ONLY secured cards that will raise credit scores.
Such cards as Cap One, First Premier, Orchard, Household, etc wherein they offer $250-$500 limits will HARM scores if you open them.
Good luck.
Reply:Credit rating depends on how you are transacting with the card, not depends on how many cards you are holding? Want a more details visit http://www.acreditlibrary.com/buildcredi...
Does it help your credit rating to have more than 1 credit card?
It does help as long as you have financial discipline and don't misuse the credit.
Ideally it helps the most if you have a good mix on your reports - major credit cards, store cards, mortgage, car loans, etc.
Having more than one card from the same bank does not hurt either.
If you have a pretty thin file - short history and/or few accounts, you will take a pretty good hit on your scores for both the inquiry and the reporting of the new account. But, the inquiry will mean less around 6 months and, for the most part, mean nothing at the one year mark.
If the new account is kept in good standing, you should see an improvement in your scores at the 4 to 6 month mark.
If you already have quite a few accounts that are in good standing and with fairly long history, you won't be dinged as hard for either the inquiry or the new account.
edited to add - I agree with everything sandmom had to say, and that creditboards is my favorite site also
Reply:If lets_be_logical was actually a 'nationally known' anything, he would give his NAME. Report Abuse
Reply:it dont matter one way or another if you have more than one card from the same bank.
it does matter as to how many revolving accounts you have, what the limits are, and how long they have been open.
I had no revolving cards and was denied credit because of it regaurless that i was making lots of money. i applied for a really easy one and bam my credit limit was only $500 but my score jump about 20 points instantly tehn another one $500 and about 10 piont jumpt these were both from teh same bank. i then got another card $500 got about 7point score and two other store cards another 4 points from the frist one then zero point increase from the last card so that is were i stopped. once i hit the 6 month mark i got another 11 point increase.
having a mix of credit is very important. get cards that you are going to use, do just go on a card getting spree. inquires will sometime hurt your score so becareful of how many you applie for and only applie for those you think you will get.
take care of your credit. pay in full each month and you will see your credit score sore. become a member of a credit forum too where experts in this field help each other. my favorite is creditboards.com my fico when from 550 to 670 in less than a year thanks to their help. good luck.
Reply:The best score is achieved with 1 major credit card and 1 store card. Nothing more, nothing less.
Reply:Speaking as a nationally known credit score and lending expert (book, radio shows, newspaper columns, etc.)...
You want as big a credit line as possible for best score. BUT, opening a new account CAN hurt your scores until the account gets older and is used correctly.
If you cannot get approved for anything more than $750 limit credit cards, do NOT open ANYthing except secured cards at Wells Fargo and/or Bank of America.
These are the ONLY secured cards that will raise credit scores.
Such cards as Cap One, First Premier, Orchard, Household, etc wherein they offer $250-$500 limits will HARM scores if you open them.
Good luck.
Reply:Credit rating depends on how you are transacting with the card, not depends on how many cards you are holding? Want a more details visit http://www.acreditlibrary.com/buildcredi...
How do I get a consolidation loan fast with a bad credit rating.?
When you want to get consolidation loan fast you have to do it online. As of now the fastest way of getting a loan is applying online. The process is so quick that you get the loan in hours. Just visit any lenders website. Do a little of reading their terms and other stuffs. Then do a little research about the company. And Apply online if you are fully satisfied.
I hope http://loan-guides.net will help you in getting a bad credit consolidation.
How do I get a consolidation loan fast with a bad credit rating.?
it is very easy to get debt consolidation loans with a bad credit a lot of company is offering such type of loans.but in the case of bad credit history you have to pay i little bit more interest rate and you can get this loans with in 48 hours.this is website where you can get debt consolidation loans very easily http://www.onlinedebtconsolidationloan.c...
Reply:Bad credit debt consolidation help permits a person with poor credit rating, to obtain bad credit debt consolidation loan so that monthly installments can be reduced. What a person has to do is ask for a free debt consolidation quote from%26lt;!--reputed company.Do not worry, the bad credit debt consolidation loan is not another high interest problem that will eat away your resources.
http://best-loans.awardspace.com/...
Rather it is a convenient method of taking care of your debts at the present moment. After your--%26gt;present debts have been dealt with, the bad credit debt consolidation loan can be paid off easily.
Reply:go to www.creditfinancialservice.com they will give you are free analysis on your detb and offer you a debt consolidation loan or detb settlement.
http://www.creditfinancialservice.com/
I hope http://loan-guides.net will help you in getting a bad credit consolidation.
How do I get a consolidation loan fast with a bad credit rating.?
it is very easy to get debt consolidation loans with a bad credit a lot of company is offering such type of loans.but in the case of bad credit history you have to pay i little bit more interest rate and you can get this loans with in 48 hours.this is website where you can get debt consolidation loans very easily http://www.onlinedebtconsolidationloan.c...
Reply:Bad credit debt consolidation help permits a person with poor credit rating, to obtain bad credit debt consolidation loan so that monthly installments can be reduced. What a person has to do is ask for a free debt consolidation quote from%26lt;!--reputed company.Do not worry, the bad credit debt consolidation loan is not another high interest problem that will eat away your resources.
http://best-loans.awardspace.com/...
Rather it is a convenient method of taking care of your debts at the present moment. After your--%26gt;present debts have been dealt with, the bad credit debt consolidation loan can be paid off easily.
Reply:go to www.creditfinancialservice.com they will give you are free analysis on your detb and offer you a debt consolidation loan or detb settlement.
http://www.creditfinancialservice.com/
Will my credit rating be effected by getting a new number?
I have a credit card and how will my credit be effected if I cancel curtrent card and get a new number from my credit company
Will my credit rating be effected by getting a new number?
Not at all. Your previous credit rating will apply to the new card number. Also, they go by your social security number and that stays the same.
That would be the same thing as if you lost your credit card and had to cancel it - you don't lose your credit rating thru that either.
Reply:EASY MAN
Reply:You will lose points for closing an account. Pay it off, put it away and don't use it. Open another account and keep it in good standing. And your numbers will go up, provided you pay all your other bills ontime.
You also lose points everytime your credit is checked. Applying for a new card, regardless of who with, they will run a credit check, even if it is with the same bank.
Reply:i think it wont change anything because they have your personal information, right? If for instance you have had bad credit they will still know.
Reply:The rule of thumb to keep your score up, is to use no more than 1/3 of your credit limit on your card. If you have $1500 of credit, divide that by 3 and use no more that $500 at any time. Other than that, as long as you pay your credit card off, they will not hold it against you. It will show that you requested the account to be closed, but that should not create bad credit, unless you do not pay what you owe.
Reply:no. sometimes you have to get a new account number, like when your card is lost or stolen. it would be rotten to loose credit score points for that!
Reply:no,..not at all
Will my credit rating be effected by getting a new number?
Not at all. Your previous credit rating will apply to the new card number. Also, they go by your social security number and that stays the same.
That would be the same thing as if you lost your credit card and had to cancel it - you don't lose your credit rating thru that either.
Reply:EASY MAN
Reply:You will lose points for closing an account. Pay it off, put it away and don't use it. Open another account and keep it in good standing. And your numbers will go up, provided you pay all your other bills ontime.
You also lose points everytime your credit is checked. Applying for a new card, regardless of who with, they will run a credit check, even if it is with the same bank.
Reply:i think it wont change anything because they have your personal information, right? If for instance you have had bad credit they will still know.
Reply:The rule of thumb to keep your score up, is to use no more than 1/3 of your credit limit on your card. If you have $1500 of credit, divide that by 3 and use no more that $500 at any time. Other than that, as long as you pay your credit card off, they will not hold it against you. It will show that you requested the account to be closed, but that should not create bad credit, unless you do not pay what you owe.
Reply:no. sometimes you have to get a new account number, like when your card is lost or stolen. it would be rotten to loose credit score points for that!
Reply:no,..not at all
How does three late car payments affect your credit rating?
It can cost you about a loss of 40-60 points on your credit score.
You might consider setting up auto withdrawal from your checking account that recives your direct deposit check to avoid this. (make sure to have enough in your account when the payment comes due). Good luck.
How does three late car payments affect your credit rating?
Well I still stand by what I said...if you were simply "late," then it does not get reported to the credit bureaus, therefore your score stays the same. A "lateness" only gets reported if it's excessive, like %26gt;30 days late. So your score did NOT go down. Report Abuse
Reply:It depends on how late the payments were. Most car loans(unless it is a rip-off subprime loan) give you a 5-day grace period, meaning that they don't add on late fees unless your car loan payment is MORE THAN 5 days past the duedate. Also, most banks do not report latenesses to your credit report unless the lateness was more than 30 days late. So if you simply paid your car loan say, 10 days late three times in a row, you might be stuck with extra late fees to pay, but there would be no effect to your credit rating.
Now if each of these three late payments were made more than 30days past the duedate, then your credit rating will plummet quite a bit. Each 30day lateness is reported to the credit bureaus. One 30day lateness on your entire credit report isn't too big of a deal. The more latenesses that you have reported to your credit report, the worse you look. But three 30day latenesses, especially in a short period of time, definitely can lower your credit score as much as 50-100pts.
Now if you meant "three late car payments" as simply skipping your car payment for three months, you are in SERIOUS trouble, credit rating-wise. Technically, missing 3 payments is equivalent to a 90-day lateness. The later the lateness, the worse you look. While 30-day and 60-day latenesses on your credit report can lower your score, they are not viewed to be ultra serious until it hits a 90-day lateness. At that point I wouldn't be surprised if your credit score has gone down 100-150pts.
Reply:It depends, are you three payments behind? Look for the car to be repoed any day.
If you have made three payments over 30-days late? Your credit score will suffer and it will make it very hard to get any other types of credit for at least 6-months.
If you have made three payments 60-90 days late? Your credit score will take a major hit and it will be next to impossible for you to get any additional credit for 1-year.
Reply:it will show late on your credit report and it may make your score go down a lil
Reply:this will hurt your credit score buy about 30 points or so and also post a 90 days past due on your credit report which in the long run could cost you hundreds of dollers in interest on your next loan, if you need more information about credit check out my blog listed in my profile, I hope that this was helpful, Best of Luck and by the way if they haven't yet I would be worried about them coming to take the car.
Reply:and you still have the car?....it will affect a great deal as you according to the bank are not very reliable person.....
You might consider setting up auto withdrawal from your checking account that recives your direct deposit check to avoid this. (make sure to have enough in your account when the payment comes due). Good luck.
How does three late car payments affect your credit rating?
Well I still stand by what I said...if you were simply "late," then it does not get reported to the credit bureaus, therefore your score stays the same. A "lateness" only gets reported if it's excessive, like %26gt;30 days late. So your score did NOT go down. Report Abuse
Reply:It depends on how late the payments were. Most car loans(unless it is a rip-off subprime loan) give you a 5-day grace period, meaning that they don't add on late fees unless your car loan payment is MORE THAN 5 days past the duedate. Also, most banks do not report latenesses to your credit report unless the lateness was more than 30 days late. So if you simply paid your car loan say, 10 days late three times in a row, you might be stuck with extra late fees to pay, but there would be no effect to your credit rating.
Now if each of these three late payments were made more than 30days past the duedate, then your credit rating will plummet quite a bit. Each 30day lateness is reported to the credit bureaus. One 30day lateness on your entire credit report isn't too big of a deal. The more latenesses that you have reported to your credit report, the worse you look. But three 30day latenesses, especially in a short period of time, definitely can lower your credit score as much as 50-100pts.
Now if you meant "three late car payments" as simply skipping your car payment for three months, you are in SERIOUS trouble, credit rating-wise. Technically, missing 3 payments is equivalent to a 90-day lateness. The later the lateness, the worse you look. While 30-day and 60-day latenesses on your credit report can lower your score, they are not viewed to be ultra serious until it hits a 90-day lateness. At that point I wouldn't be surprised if your credit score has gone down 100-150pts.
Reply:It depends, are you three payments behind? Look for the car to be repoed any day.
If you have made three payments over 30-days late? Your credit score will suffer and it will make it very hard to get any other types of credit for at least 6-months.
If you have made three payments 60-90 days late? Your credit score will take a major hit and it will be next to impossible for you to get any additional credit for 1-year.
Reply:it will show late on your credit report and it may make your score go down a lil
Reply:this will hurt your credit score buy about 30 points or so and also post a 90 days past due on your credit report which in the long run could cost you hundreds of dollers in interest on your next loan, if you need more information about credit check out my blog listed in my profile, I hope that this was helpful, Best of Luck and by the way if they haven't yet I would be worried about them coming to take the car.
Reply:and you still have the car?....it will affect a great deal as you according to the bank are not very reliable person.....
Is someone trying to use my address to get an illegal credit rating or card?
Is someone trying to get an illegal credit rating or card? I received a letter with a total strangers name on it in the mail, sent to my address. It was an application for a credit card.
I checked the name out on the Internet people search and there is no one by that name in the entire state, in the one where I live.
http://www.savetheinternet.com/=faq
Is someone trying to use my address to get an illegal credit rating or card?
call the credit card company and see when it was applied for. also tell them that you didn't apply for the card. if you find out that someone did apply for the card you might want to get a credit check done to see if there's anything that shouldn't be there. if there is you need to file an id alert
tanning
I checked the name out on the Internet people search and there is no one by that name in the entire state, in the one where I live.
http://www.savetheinternet.com/=faq
Is someone trying to use my address to get an illegal credit rating or card?
call the credit card company and see when it was applied for. also tell them that you didn't apply for the card. if you find out that someone did apply for the card you might want to get a credit check done to see if there's anything that shouldn't be there. if there is you need to file an id alert
tanning
Where can i get a £18000 loan, i have a bad credit rating?
Im in dept big time and i need to consolidate really badly!!
Where can i get a £18000 loan, i have a bad credit rating?
when you find out let me know i need 25k!!!!
the lottery is mine this week, if i win il give you some!!!
try this website too has some good tips on it, is genuine too nothing dodgy
www.moneysavingexpert.com
Reply:definatly check out the cab at http://www.citizensadvice.org.uk/ they helped me alot just reading the articles on what i should do next. best thing to do is dont let it get to you, if we are talking credit cards, you cant be put in prison and they cant take anything either, worse that can happen is they take you to court. all the judge will do is sort out a reasonable payment plan for you. please get some advice as moving it around doesnt work been there done that! your credit rating just gets worse its a visious circle. and its not fair on you! or you could try northern rock for a loan.
Reply:I'd say be very careful about consolidating as if you haven't changed your spending habits you'll just run up more debt. Equally any loan you take will be at a sky high rate because of your credit rating.
1st is to go to the Citizens' Advice Bureau
2nd Avoid these debt companies who promise to write off your debt.
The BBC have a couple of interesting programs, spendaholics
http://www.bbc.co.uk/bbcthree/tv/spendah...
and
Bank of Mum %26amp; Dad
http://www.bbc.co.uk/entertainment/banko...
Another website that i fined useful is The Motley Fool www.fool.co.uk - they have loads of advice
Reply:Have you a property? For that amount any lender weould want a guarantee on your house, if you haven't and that is a large sum of money - try somewhere like money-news.co.uk that offer best buy loan tables http://www.money-news.co.uk/guides/best-...
Good luck!
Reply:if you are a homeowner you can do debt consolidation. Otherwise move your credit cards to a low,no interest one for starters. Some companies loan to those with a bad credit rating but interest rates will be sky high.Why not try working out what you can afford to pay and speak to those you owe money to?
Reply:have you tried uswitch they do the best loan deals on there.
Reply:So you'd rather get into more debt to pay off another debt? Good luck to you.
Reply:I just declared bankruptcy,
Sorry I'm the wrong person to ask.
Reply:i'd lend you it but i'd want a 100% return in a week or your legs'll be mine
Reply:Don't even try this on your own. Go to Citizens' Advice Bureau and get their help in addressing your debt situation and rescheduling of payments.
Debt consolidators always want their own pound of flesh.
Where can i get a £18000 loan, i have a bad credit rating?
when you find out let me know i need 25k!!!!
the lottery is mine this week, if i win il give you some!!!
try this website too has some good tips on it, is genuine too nothing dodgy
www.moneysavingexpert.com
Reply:definatly check out the cab at http://www.citizensadvice.org.uk/ they helped me alot just reading the articles on what i should do next. best thing to do is dont let it get to you, if we are talking credit cards, you cant be put in prison and they cant take anything either, worse that can happen is they take you to court. all the judge will do is sort out a reasonable payment plan for you. please get some advice as moving it around doesnt work been there done that! your credit rating just gets worse its a visious circle. and its not fair on you! or you could try northern rock for a loan.
Reply:I'd say be very careful about consolidating as if you haven't changed your spending habits you'll just run up more debt. Equally any loan you take will be at a sky high rate because of your credit rating.
1st is to go to the Citizens' Advice Bureau
2nd Avoid these debt companies who promise to write off your debt.
The BBC have a couple of interesting programs, spendaholics
http://www.bbc.co.uk/bbcthree/tv/spendah...
and
Bank of Mum %26amp; Dad
http://www.bbc.co.uk/entertainment/banko...
Another website that i fined useful is The Motley Fool www.fool.co.uk - they have loads of advice
Reply:Have you a property? For that amount any lender weould want a guarantee on your house, if you haven't and that is a large sum of money - try somewhere like money-news.co.uk that offer best buy loan tables http://www.money-news.co.uk/guides/best-...
Good luck!
Reply:if you are a homeowner you can do debt consolidation. Otherwise move your credit cards to a low,no interest one for starters. Some companies loan to those with a bad credit rating but interest rates will be sky high.Why not try working out what you can afford to pay and speak to those you owe money to?
Reply:have you tried uswitch they do the best loan deals on there.
Reply:So you'd rather get into more debt to pay off another debt? Good luck to you.
Reply:I just declared bankruptcy,
Sorry I'm the wrong person to ask.
Reply:i'd lend you it but i'd want a 100% return in a week or your legs'll be mine
Reply:Don't even try this on your own. Go to Citizens' Advice Bureau and get their help in addressing your debt situation and rescheduling of payments.
Debt consolidators always want their own pound of flesh.
Does leaving a balance on your credit card affect your credit rating in a negative way?
The best way to improve your credit rating is to pay off all your credit cardsin full every month. Not only do you keep an A-1 rating, you avoid paying rediculously high interest rates that most credit card companies charge.
Does leaving a balance on your credit card affect your credit rating in a negative way?
A large part of your credit score is based on the ratio of credit card debt to available limit. Carrying balances of more than 30% hurts your score. Paying off credit card balances is the fastest way to boost your score.
It is also an urban legend that stringing out payments helps your score. Credit card companies don't report how much just whether you paid on time. Stringing out payments just costs you interest.
Reply:Nope as long as you are making the minimum payment as stated, you will not have a problem.
Reply:Provided you continue to pay the exhorbitant interest rates they charge, you are more than welcomed to carry a balance. That is where they generate their earnings , from people who over extend and cannot pay down at the end of every billing period. you are the ideal customer.
Reply:Not if you pay on time. Carrying a balance and paying on time actually will help your credit score. It shows that you can manage you debt responsibly. Just watch out for the high interest rates the credit card company will charge you. And don't make late payments or miss a payment.
Reply:I don't think so as long as you make the minimum monthly payment every month, and don't go over your credit limit.
Reply:If the balances is close to the credit limit, then yes. Try to stay 50% under credit limit.
Does leaving a balance on your credit card affect your credit rating in a negative way?
A large part of your credit score is based on the ratio of credit card debt to available limit. Carrying balances of more than 30% hurts your score. Paying off credit card balances is the fastest way to boost your score.
It is also an urban legend that stringing out payments helps your score. Credit card companies don't report how much just whether you paid on time. Stringing out payments just costs you interest.
Reply:Nope as long as you are making the minimum payment as stated, you will not have a problem.
Reply:Provided you continue to pay the exhorbitant interest rates they charge, you are more than welcomed to carry a balance. That is where they generate their earnings , from people who over extend and cannot pay down at the end of every billing period. you are the ideal customer.
Reply:Not if you pay on time. Carrying a balance and paying on time actually will help your credit score. It shows that you can manage you debt responsibly. Just watch out for the high interest rates the credit card company will charge you. And don't make late payments or miss a payment.
Reply:I don't think so as long as you make the minimum monthly payment every month, and don't go over your credit limit.
Reply:If the balances is close to the credit limit, then yes. Try to stay 50% under credit limit.
Can an unpaid traffic ticket (no insurance, expired license) affect my credit rating?
I got this ticket in an adjacent state 5 years ago. I ignored it.
The police department there just sent me a letter threatening to ding my credit if I do not pay. Would they do that?
Can an unpaid traffic ticket (no insurance, expired license) affect my credit rating?
Yes. If they say they would then they would. You should pay that ticket ASAP.
The police department there just sent me a letter threatening to ding my credit if I do not pay. Would they do that?
Can an unpaid traffic ticket (no insurance, expired license) affect my credit rating?
Yes. If they say they would then they would. You should pay that ticket ASAP.
How does foreclosing on a house affect one's credit rating and what can a bank do to get their money?
a foreclosure typically reduces your credit (FICO) score by about 200-300 points. The bank forecloses, and then sells the property to get their money. If there is a deficiency, they can sue you for that amount and obtain a personal judgment against you. With a judgment, they can levy on your personal property and sell that too.
How does foreclosing on a house affect one's credit rating and what can a bank do to get their money?
And if the bank gives up and decides they can't get the money from you, they will send you a 1099-C for the difference and that *can* be taxable income to you.
floral
How does foreclosing on a house affect one's credit rating and what can a bank do to get their money?
And if the bank gives up and decides they can't get the money from you, they will send you a 1099-C for the difference and that *can* be taxable income to you.
floral
How much will a mortgage boost my credit rating?
just remember, if you pay it on time, it's good for your rating. if you don't believe me you can check here: www.creditscore.pro
How much will a mortgage boost my credit rating?
It will do the opposite. It tells creditors that you have other priorities to pay before any other credit since you'll want a place to live. If the mortgage is very high, you could be denied loans because of you mortgage being subtracted from your net worth.
How much will a mortgage boost my credit rating?
It will do the opposite. It tells creditors that you have other priorities to pay before any other credit since you'll want a place to live. If the mortgage is very high, you could be denied loans because of you mortgage being subtracted from your net worth.
If one mortgage company can't find a loan for you because of your credit rating, can we try another one?
Do all mortgage companies have access to the same lenders or if one fails can another one find a lender?
If one mortgage company can't find a loan for you because of your credit rating, can we try another one?
They work with different banks. Don't deal online, those are scams, especially those that cruise around Answers looking for victims.
Ask your real estate agent to recommend someone. They usually know who can perform and it is in their best interest to help you find a loan.
Reply:Yes you can look for others mortgage companies, you may want to go through a broker. Many brokers have access to private investors who may be more willing to back your home purchase decision. I would personally wait a few more months before buying, the housing market probably won't bottom out till the beginning of the spring.
Reply:No, not all companies have access to the same loan programs. An individual bank will only offer their bank’s programs. This is the number one reason I did not get my mortgage through a bank. A mortgage broker can shop programs to try and find one that works for you.
Reply:Yes of course. I get those alot. My company deals with over 200 banks, lenders, and other private investors. So we most definitely can find you a lender.
Reply:my suggestion is to call brokers and ask them if they are mortgage brokers or corespondent lenders, the second usually has access to more banks and sometimes funds its own loans you will have a better chance with them. I have banks that work with low credit score people up to 95% financing but want to keep info private so e mail me and I will send you info
Reply:this is why you should try a broker.
they generally deal with a lot of lenders who can find you a program or competitive rates.
some brokers arent fha qualified...or dont do fha manual underwrite. you need both if you have a low credit rating.
If one mortgage company can't find a loan for you because of your credit rating, can we try another one?
They work with different banks. Don't deal online, those are scams, especially those that cruise around Answers looking for victims.
Ask your real estate agent to recommend someone. They usually know who can perform and it is in their best interest to help you find a loan.
Reply:Yes you can look for others mortgage companies, you may want to go through a broker. Many brokers have access to private investors who may be more willing to back your home purchase decision. I would personally wait a few more months before buying, the housing market probably won't bottom out till the beginning of the spring.
Reply:No, not all companies have access to the same loan programs. An individual bank will only offer their bank’s programs. This is the number one reason I did not get my mortgage through a bank. A mortgage broker can shop programs to try and find one that works for you.
Reply:Yes of course. I get those alot. My company deals with over 200 banks, lenders, and other private investors. So we most definitely can find you a lender.
Reply:my suggestion is to call brokers and ask them if they are mortgage brokers or corespondent lenders, the second usually has access to more banks and sometimes funds its own loans you will have a better chance with them. I have banks that work with low credit score people up to 95% financing but want to keep info private so e mail me and I will send you info
Reply:this is why you should try a broker.
they generally deal with a lot of lenders who can find you a program or competitive rates.
some brokers arent fha qualified...or dont do fha manual underwrite. you need both if you have a low credit rating.
If I close a credit card account, will that lower my credit rating? My rating is currently 704.?
My current equifax credit rating is 704 which is considered fair... and I had to increase the credit limit on a lower interest credit card so I could pay off my others. Is there a way that I can lower it by closing a credit card account I don't use or is it better to keep it open and not use it. I have 4 credit cards and use only two accounts.
If I close a credit card account, will that lower my credit rating? My rating is currently 704.?
It is better to keep it open. Your credit score is partially based on the amount of credit you have used versus available credit so it is better to keep that card open which shows all that crdit available.
Reply:It's better to clsoe any accounts that you don't use. Unused accounts lower your credit score.
Reply:If you close your credit card account ,your FICO score will go down.In order for you to increase your credit score again you would have to payoff your existing balance on your other credit card or charge up other amount and pay it off in 3 month.
Reply:A closed account with an open balance still needs to be serviced until the balance is paid off. However, it shouldn't affect your FICO anymore than if it were still open. Serviced debt is serviced debt.
Reply:Open credit is viewed as potential debt, which may slightly lower a credit score-not sure-but it does count as a slight negative when applying for some loans. If you don't need it, close it; but, you might want to hold onto it for a rainy day. It's not going to make much of a difference to your credit score, if you have 704.
Reply:Yes it will affect your credit, but the hit won't be bad and after 6 mo. or so your credit score will go back up, nothing to worry about at all.
Reply:You should only have ONE credit card, and you should pay off the balance in full each month.
Since you are carrying a balance from month to month, YES, close off the two higher interest cards you are no longer using.
You can't be tempted to use them, if you don't have them.
If I close a credit card account, will that lower my credit rating? My rating is currently 704.?
It is better to keep it open. Your credit score is partially based on the amount of credit you have used versus available credit so it is better to keep that card open which shows all that crdit available.
Reply:It's better to clsoe any accounts that you don't use. Unused accounts lower your credit score.
Reply:If you close your credit card account ,your FICO score will go down.In order for you to increase your credit score again you would have to payoff your existing balance on your other credit card or charge up other amount and pay it off in 3 month.
Reply:A closed account with an open balance still needs to be serviced until the balance is paid off. However, it shouldn't affect your FICO anymore than if it were still open. Serviced debt is serviced debt.
Reply:Open credit is viewed as potential debt, which may slightly lower a credit score-not sure-but it does count as a slight negative when applying for some loans. If you don't need it, close it; but, you might want to hold onto it for a rainy day. It's not going to make much of a difference to your credit score, if you have 704.
Reply:Yes it will affect your credit, but the hit won't be bad and after 6 mo. or so your credit score will go back up, nothing to worry about at all.
Reply:You should only have ONE credit card, and you should pay off the balance in full each month.
Since you are carrying a balance from month to month, YES, close off the two higher interest cards you are no longer using.
You can't be tempted to use them, if you don't have them.
Does going into unauthorised overdraft harm credit rating?
Even if you pay it off promptly?
Does going into unauthorised overdraft harm credit rating?
Not if you clear it within 28 days. Most banks report to the credit reference agencies monthly so as long as you run it up and clear it within the same month, you should be ok
Reply:If you leave it for more than a month over, then yes.
However, it is worth asking you bank if they do report back to the bureaux (in UK, Equifax, Experian and Call Credit).
Sometimes they may keep it internal and only disclose it if you are in default.
If they DO disclose it to the credit bureaux, then you will see a payment record like this (made up examples);
Start date: 10-06-2001
Finance Type: Current account / overdraft
Credit Limit: £1,000
Balance: £1,103OD
Default date: NA
Payment history: 000000000100
It's this last string of numbers that you need to be concerned about, as they show the in the last 12(or24mths) how many payments in arrears you have been. The `1` means you were one month in arrears.
I have been in credit (and consumer credit) for 15+yrs and a string with a couple of 1`s surrounded by 0's will usually be overlooked. Also, the balance here is £103+ over the limit - in itself, not too bad, and other creditors would put it down to a bad month (changing jobs, moving house etc)
A string like this 000000101001123456D is bad, as it means you have let it go into arrears month-on-month, and the `D` usually means a default in the account - bring in the lawyers and court records.
Advise:
1) Check that your bank reports back to the credit bureaux
2) Keep your accounts up to date
3) Get a copy of your credit records from these credit bureaux.
Cheers - Brad M
Reply:It can if you don t repay within a month.
Now, it will definitely affect your relation with your bank in the future should you wish to borrow money.
I will strongly recommend you to check your credit report to give you a better picture of your credit situation...and "evolution"
Experian is offering a free credit report on
http://www.financecomparator.co.uk/credi...
Otherwise, the other ones like Equifax and Callcredit are good too
Reply:It shouldnt effect your credit rating but it will show on bank statements so if you go for a mortgage some companies will ask for 3 months good conduct bank statements so this could have an effect. If you arent going for a mortgage or anything like that then you should be fine - just try not to do it too much.
Reply:One occurance of overdraft won't damage your credit rating. Having repeated offenses, or failing to fix it promptly (it was outstanding longer than a billing cycle), can.
Your credit rating takes many factors into consideration, and one error won't impact the score significantly.
Reply:No!
Reply:It will not harm your credit but it will do your bank
account in.
Reply:Any information can be given to the credit reference agency
This can include authorised unauthorised overdrafts. Good payer..bad payer etc etc etc
The file is simply a history of your movement in the financial world
purchase flowers
Does going into unauthorised overdraft harm credit rating?
Not if you clear it within 28 days. Most banks report to the credit reference agencies monthly so as long as you run it up and clear it within the same month, you should be ok
Reply:If you leave it for more than a month over, then yes.
However, it is worth asking you bank if they do report back to the bureaux (in UK, Equifax, Experian and Call Credit).
Sometimes they may keep it internal and only disclose it if you are in default.
If they DO disclose it to the credit bureaux, then you will see a payment record like this (made up examples);
Start date: 10-06-2001
Finance Type: Current account / overdraft
Credit Limit: £1,000
Balance: £1,103OD
Default date: NA
Payment history: 000000000100
It's this last string of numbers that you need to be concerned about, as they show the in the last 12(or24mths) how many payments in arrears you have been. The `1` means you were one month in arrears.
I have been in credit (and consumer credit) for 15+yrs and a string with a couple of 1`s surrounded by 0's will usually be overlooked. Also, the balance here is £103+ over the limit - in itself, not too bad, and other creditors would put it down to a bad month (changing jobs, moving house etc)
A string like this 000000101001123456D is bad, as it means you have let it go into arrears month-on-month, and the `D` usually means a default in the account - bring in the lawyers and court records.
Advise:
1) Check that your bank reports back to the credit bureaux
2) Keep your accounts up to date
3) Get a copy of your credit records from these credit bureaux.
Cheers - Brad M
Reply:It can if you don t repay within a month.
Now, it will definitely affect your relation with your bank in the future should you wish to borrow money.
I will strongly recommend you to check your credit report to give you a better picture of your credit situation...and "evolution"
Experian is offering a free credit report on
http://www.financecomparator.co.uk/credi...
Otherwise, the other ones like Equifax and Callcredit are good too
Reply:It shouldnt effect your credit rating but it will show on bank statements so if you go for a mortgage some companies will ask for 3 months good conduct bank statements so this could have an effect. If you arent going for a mortgage or anything like that then you should be fine - just try not to do it too much.
Reply:One occurance of overdraft won't damage your credit rating. Having repeated offenses, or failing to fix it promptly (it was outstanding longer than a billing cycle), can.
Your credit rating takes many factors into consideration, and one error won't impact the score significantly.
Reply:No!
Reply:It will not harm your credit but it will do your bank
account in.
Reply:Any information can be given to the credit reference agency
This can include authorised unauthorised overdrafts. Good payer..bad payer etc etc etc
The file is simply a history of your movement in the financial world
purchase flowers
What is the lowest credit rating most lenders require to get the best rate on an owner-occupied mortgage loan?
Right now you will probably need to have a minimum of a 680 mid score with a 20% down payment to get the best rate on an owner occ mortgage. There has been quite a increase in foreclosures and a large decline of lenders in the subprime market. recently. All lenders have tightened up their requirements for % of LTV, credit score, debit to income, everything. The wave has not stopped yet.
You may see more tightening of terms and these are changing almost daily. One real positive thing is that interest rates are still at all time lows. Conventional and FHA loans are still excellent fixed rates for buyers.
Make sure you deal with a reputable loan officer and get all information in writing.
What is the lowest credit rating most lenders require to get the best rate on an owner-occupied mortgage loan?
It various from lenders to lenders.
Reply:For subprime it would be above 630....
For Prime lenders I would say definitely above 675.
The difference then comes in other factors of the decision making process, such as:
*what is your debt to income ratio
*how long have you been at current job
*what is the ratio of your used credit to credit limit; it is important that it be under or aroud 50 percent.
Reply:For a new home buyer a credit score of 640 or above would be best. Anything below this might not get financed or you will end up with a horrendous interest rate. We used to work with credit scores below 600 for new home buyers but have pulled away from that. If you are interested, we can provide free, no obligation quotes - whenever you are ready.
If your credit score is below 640, I would advise waiting for it to go up so that you can get a decent interest rate and favorable loan terms.
You may see more tightening of terms and these are changing almost daily. One real positive thing is that interest rates are still at all time lows. Conventional and FHA loans are still excellent fixed rates for buyers.
Make sure you deal with a reputable loan officer and get all information in writing.
What is the lowest credit rating most lenders require to get the best rate on an owner-occupied mortgage loan?
It various from lenders to lenders.
Reply:For subprime it would be above 630....
For Prime lenders I would say definitely above 675.
The difference then comes in other factors of the decision making process, such as:
*what is your debt to income ratio
*how long have you been at current job
*what is the ratio of your used credit to credit limit; it is important that it be under or aroud 50 percent.
Reply:For a new home buyer a credit score of 640 or above would be best. Anything below this might not get financed or you will end up with a horrendous interest rate. We used to work with credit scores below 600 for new home buyers but have pulled away from that. If you are interested, we can provide free, no obligation quotes - whenever you are ready.
If your credit score is below 640, I would advise waiting for it to go up so that you can get a decent interest rate and favorable loan terms.
How does employer background checks/credit report checks affect your credit rating?
.....
well tagej isn't exactly right
when you apply for credit its a hard inquiry
if someone is checking your credit history (not for use of credit) it is considered a soft inquiry
How does employer background checks/credit report checks affect your credit rating?
tajet is correct on the pulls. actually there 3 types of pulls. When you apply for credit (Hard pull), people that have permission to pull these are called permissible pulls aka hard pulls, and then your promotional pulls, (these are for those stupid offers you get in the mail) these are soft pulls and do not count. Permissible pulls are for already active accounts, or when you give someone permission to pull your reports, insurance, apartment complexs and even your employer.
Trust me I read 100 reports a day
Reply:Each time you apply for credit or allow someone to pull your credit report, you will get what is referred to as a "hard inquiry" on your record, which will generally take a few points off your fico score.
If you pull your own credit report, it will not impact your credit rating, it's considered a "soft inquiry". Also, a "background check" doesn't have to affect your credit score, it only does if you allow a credit report pull as part of the check.
well tagej isn't exactly right
when you apply for credit its a hard inquiry
if someone is checking your credit history (not for use of credit) it is considered a soft inquiry
How does employer background checks/credit report checks affect your credit rating?
tajet is correct on the pulls. actually there 3 types of pulls. When you apply for credit (Hard pull), people that have permission to pull these are called permissible pulls aka hard pulls, and then your promotional pulls, (these are for those stupid offers you get in the mail) these are soft pulls and do not count. Permissible pulls are for already active accounts, or when you give someone permission to pull your reports, insurance, apartment complexs and even your employer.
Trust me I read 100 reports a day
Reply:Each time you apply for credit or allow someone to pull your credit report, you will get what is referred to as a "hard inquiry" on your record, which will generally take a few points off your fico score.
If you pull your own credit report, it will not impact your credit rating, it's considered a "soft inquiry". Also, a "background check" doesn't have to affect your credit score, it only does if you allow a credit report pull as part of the check.
In what towns in uk do people have good credit rating?
looking for areas in uk where people have good credit history i.e.if somebody is presented with a bill it is not in default.
In what towns in uk do people have good credit rating?
every town I would have thought
Reply:Tunbridge Wells
Reply:Upmystreet's neighbourhood profiles give broad details about financial habits in specific areas.
Reply:Some areas have a better payment than areas, for instance Northern Ireland isn't so good because their small claims courts are bad. But their are good payers everywhere ( maybe even in Nigeria) and certainly bad payers everywhere.
In what towns in uk do people have good credit rating?
every town I would have thought
Reply:Tunbridge Wells
Reply:Upmystreet's neighbourhood profiles give broad details about financial habits in specific areas.
Reply:Some areas have a better payment than areas, for instance Northern Ireland isn't so good because their small claims courts are bad. But their are good payers everywhere ( maybe even in Nigeria) and certainly bad payers everywhere.
How can I check my credit rating free from Experian?
Is it possible without revealing credit/debit card details and an email address
How can I check my credit rating free from Experian?
You can't. It costs £2 to view your report. Get the address and send a postal order or cheque...
Reply:Have you looked on Experians web site and read what they want you to do. Some allow you a free look if you sign up a direct debit so that you can check each month- the trick is to cancel it with the allotted time which is enough to give you your free reading. See the moneysavingexpert.com- he had an article on this a few weeks ago.
Reply:freeannualcreditreport.com
yes u have to have an email addy.
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How can I check my credit rating free from Experian?
You can't. It costs £2 to view your report. Get the address and send a postal order or cheque...
Reply:Have you looked on Experians web site and read what they want you to do. Some allow you a free look if you sign up a direct debit so that you can check each month- the trick is to cancel it with the allotted time which is enough to give you your free reading. See the moneysavingexpert.com- he had an article on this a few weeks ago.
Reply:freeannualcreditreport.com
yes u have to have an email addy.
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Whatz the site where u can find the credit rating for ur house?
experan do, but they will credit check you too
Whatz the site where u can find the credit rating for ur house?
For your house? I'm not sure about that but I don't know if you know that any bad credit attached to a property does not affect individuals anymore. The whole blacklist property thing was kicked out a while back as it was ruled unfair.
Mx
Reply:Experian.co.uk.
Reply:www.creditexpert.co.uk
Reply:try experian
Reply:your house does not have a credit rating - you do
Whatz the site where u can find the credit rating for ur house?
For your house? I'm not sure about that but I don't know if you know that any bad credit attached to a property does not affect individuals anymore. The whole blacklist property thing was kicked out a while back as it was ruled unfair.
Mx
Reply:Experian.co.uk.
Reply:www.creditexpert.co.uk
Reply:try experian
Reply:your house does not have a credit rating - you do
What are circumstances under which spouses bad credit will impact the other spouse's credit rating?
The only way this can happen is when they have joint accounts and then depending on how the accounts are paid the credit of both people will be affected.
What are circumstances under which spouses bad credit will impact the other spouse's credit rating?
It won't impact your rating, as each individual has his/her own file at the bureaus. It will impact your life, however, if you want to co-borrow to buy a house or car, because the lender will pull both reports.
Reply:When you have joint accounts
Reply:only if the spouse with bad credit defaults on a joint account
What are circumstances under which spouses bad credit will impact the other spouse's credit rating?
It won't impact your rating, as each individual has his/her own file at the bureaus. It will impact your life, however, if you want to co-borrow to buy a house or car, because the lender will pull both reports.
Reply:When you have joint accounts
Reply:only if the spouse with bad credit defaults on a joint account
Can an MSP debt affect my credit rating ?
i owe money to the gov of Canada for MSP. i called this guy, and he refused to tell me any kind of consequences. I'm thinking there are none. can anyone confirm the scope of their powers?
Can an MSP debt affect my credit rating ?
MSP? Medical Services Plan?
The government won't typically damage your credit report (student loans are an obvious exception), what they will do is keep any money you might have been entitled to through GST, Income Tax refunds and so forth.
Now, if the debt is significant (thousands) then you;ll hear from them, and they can make life seriously unpleasant including freezing bank accounts and garnishing your pay.
Bottom line? It's the government, they're going to get the money sooner or later, better to deal with them now before the interest stacks up.
Reply:MSP debt does show on your credit report. You must pay the debt in full ASAP.
If the debt is increasing monthly because you still aren't paying your premiums, it will affect your credit for the next 7 years.
Reply:No it doesnt....i should know i owe. But my friend also owed and they did end up garnishing wages. Call and go on a payment plan
Can an MSP debt affect my credit rating ?
MSP? Medical Services Plan?
The government won't typically damage your credit report (student loans are an obvious exception), what they will do is keep any money you might have been entitled to through GST, Income Tax refunds and so forth.
Now, if the debt is significant (thousands) then you;ll hear from them, and they can make life seriously unpleasant including freezing bank accounts and garnishing your pay.
Bottom line? It's the government, they're going to get the money sooner or later, better to deal with them now before the interest stacks up.
Reply:MSP debt does show on your credit report. You must pay the debt in full ASAP.
If the debt is increasing monthly because you still aren't paying your premiums, it will affect your credit for the next 7 years.
Reply:No it doesnt....i should know i owe. But my friend also owed and they did end up garnishing wages. Call and go on a payment plan
How can I affordably and successfully correct and improve my credit score/rating?
I would like to purchase a home, get a car... just simple necessities and luxuries in life. Besides having an outstanding credit score will give me peace of mind.
How can I affordably and successfully correct and improve my credit score/rating?
Have you seen your credit reports recently? Once a year you can go to annualcreditreport.com and get copies. Don't go to freecreditreport.com because it's not really free.
Go from there, see if there are collections, etc that you can pay off either outright or through payment plans. In future purchases, make sure payments are made on time. "Slow pays" can hurt your credit too. Also, if you don't really need credit don't let someone pull your credit report. Something that I found out (that really urks me) is that your credit score goes down as you get more "inquiries" into your credit.
Hope this helps :)
Reply:I understand you want to have the luxuries of life. I am a finance professional and my advise to you is. In order to have credit you need to be a slave of debt. Which means that if you have debt you will not be able to have the luxuries you want.
I suggest you clean your credit when and only when you have the money to buy a house. Even then, there are mortgage lenders that will do an underwriting that does not need a credit score but they look at the whole person their debt and their net worth.
To buy a car I suggest you put in a savings account $500 a month until you get the money for the car you are planing to purchase. Anyway, you would pay this including interests to a bank for an asset that looses value as soon as you take it off the lot. Not very smart.
For the rest, Cash is King. Don't get in debt.
Reply:It's work and dedication and deferment. It means paying EACH bill ontime EVERY month. It means limiting the number of credit cards you have, and not carrying balances on them. ALWAYS pay more than the minimum due on any credit card. So it's work and dedication to watch the bills and pay them in full and ontime. It's deferment, in not buying BLING, not buying what you can't afford, and not buying what your don't need.
SAVE money every month, for downpayments on car, house, and for your retirement. Fund your work 401k and get free matching money from your employer. Or contribute to an IRA. Retirement savings will grow over your long working life, and reduce your taxable income now. All of these steps will increase your net worth, increase your credit score, and increase your peace of mind.
You are obviously a thoughtful person who is planning for their future! Best Regards!
Reply:What is wrong that needs "correcting"?
Reply:pay off anything you can
pay off high interest credit cards
and if you can't fully pay creditors look to see if you have over half the balance available (say you have a 10,000 limit, they want you to have AT LEAST 5,000 available)
make sure you have no deliquent accounts or late payments
do not apply for too many things because every thing you apply for if you get it or not, they check your credit and so many checks will actually lower your score
they look to see how much credit you have been extended (if you have 1 credit card and the limit is 500 it will lower it because you haven't been extended enough, so call and ask the company to up your limit).
best wishes!
Reply:A good thing to do is open a new credit card or using the card u have - spend about 5$ or whatever a day on something with the card and then pay it off the same day (and do this every day) with internet banking or phone banking - the credit rating system does not take into account the amounts you spend and pay off - just the fact that you do - this will send your credit rate up if you do it for a month.
ginkgo
How can I affordably and successfully correct and improve my credit score/rating?
Have you seen your credit reports recently? Once a year you can go to annualcreditreport.com and get copies. Don't go to freecreditreport.com because it's not really free.
Go from there, see if there are collections, etc that you can pay off either outright or through payment plans. In future purchases, make sure payments are made on time. "Slow pays" can hurt your credit too. Also, if you don't really need credit don't let someone pull your credit report. Something that I found out (that really urks me) is that your credit score goes down as you get more "inquiries" into your credit.
Hope this helps :)
Reply:I understand you want to have the luxuries of life. I am a finance professional and my advise to you is. In order to have credit you need to be a slave of debt. Which means that if you have debt you will not be able to have the luxuries you want.
I suggest you clean your credit when and only when you have the money to buy a house. Even then, there are mortgage lenders that will do an underwriting that does not need a credit score but they look at the whole person their debt and their net worth.
To buy a car I suggest you put in a savings account $500 a month until you get the money for the car you are planing to purchase. Anyway, you would pay this including interests to a bank for an asset that looses value as soon as you take it off the lot. Not very smart.
For the rest, Cash is King. Don't get in debt.
Reply:It's work and dedication and deferment. It means paying EACH bill ontime EVERY month. It means limiting the number of credit cards you have, and not carrying balances on them. ALWAYS pay more than the minimum due on any credit card. So it's work and dedication to watch the bills and pay them in full and ontime. It's deferment, in not buying BLING, not buying what you can't afford, and not buying what your don't need.
SAVE money every month, for downpayments on car, house, and for your retirement. Fund your work 401k and get free matching money from your employer. Or contribute to an IRA. Retirement savings will grow over your long working life, and reduce your taxable income now. All of these steps will increase your net worth, increase your credit score, and increase your peace of mind.
You are obviously a thoughtful person who is planning for their future! Best Regards!
Reply:What is wrong that needs "correcting"?
Reply:pay off anything you can
pay off high interest credit cards
and if you can't fully pay creditors look to see if you have over half the balance available (say you have a 10,000 limit, they want you to have AT LEAST 5,000 available)
make sure you have no deliquent accounts or late payments
do not apply for too many things because every thing you apply for if you get it or not, they check your credit and so many checks will actually lower your score
they look to see how much credit you have been extended (if you have 1 credit card and the limit is 500 it will lower it because you haven't been extended enough, so call and ask the company to up your limit).
best wishes!
Reply:A good thing to do is open a new credit card or using the card u have - spend about 5$ or whatever a day on something with the card and then pay it off the same day (and do this every day) with internet banking or phone banking - the credit rating system does not take into account the amounts you spend and pay off - just the fact that you do - this will send your credit rate up if you do it for a month.
ginkgo
Is a 6.375% interest rate good for a 30 yr fixed when I have a credit rating of 755?
The house was built in 2006 and I am using it as my second residence and I have 20% equity. The property is valued at $256,000 in Rio Rancho, New Mexico if that makes any difference. This is for a refi. Thank you
Is a 6.375% interest rate good for a 30 yr fixed when I have a credit rating of 755?
I would say it's definately a good interest rate. You have a good credit rating, a decent valued property in a beautiful part of the country. I'd go for it.
Reply:Given that this is a second home it's a pretty good rate. You might be able to do slightly better if it was a first home and you may still be able to do a bit better if you shop around a bit.
Reply:It is not a bad rate it might me possible to get a little better though. You can check at bankrate.com but keep in mind that the mortgage broker needs to make money. Check how many points they are charging you.
Reply:The rate is good as long as you're not also being charged PMI, which you shouldn't have to with the equity you have in it. Did you get 20% equity because you purchased last year? Remember that you'll be paying closing costs again.
Reply:I would highly recommend doing a 15 year fixed , other wise you will pay more than double the market value , and with property values dropping you may lose your @ss on it ...but on the other hand with consumer debit growing at a record rate In total, consumer credit rose by $12.2 billion to a record $2.469 trillion. The increase was bigger than the $9.5 billion gain analysts had been expecting. During the housing boom, when home sales were hitting records for five consecutive years and prices were soaring, many homeowners tapped the rising value of their homes to finance increased spending by taking out home equity lines of credit.
However, now that home sales are plunging and double-digit increases in housing costs are a thing of the past, home equity lines of credit have become less available. That has pushed consumers back to credit cards to finance their spending.
Analysts are watching closely to see if the steepest slump in housing in 16 years could have a more serious impact on the economy through the wealth effect.
And with democrats possibly taking control of Washington , they are planning a 50 cents per gallon tax increase on Gasoline , and adding a carbon tax to consumer goods , and plans to eliminate the mortgage interest deduction on personal income taxes ...
I say keep spending , go 30 years , and pay over 400 grand for the property , and when the market hits bottom you can sell it for 150 grand ...
Reply:yes it is a good rate. Ask around and see if you can get a better rate but it wont improve by much
Is a 6.375% interest rate good for a 30 yr fixed when I have a credit rating of 755?
I would say it's definately a good interest rate. You have a good credit rating, a decent valued property in a beautiful part of the country. I'd go for it.
Reply:Given that this is a second home it's a pretty good rate. You might be able to do slightly better if it was a first home and you may still be able to do a bit better if you shop around a bit.
Reply:It is not a bad rate it might me possible to get a little better though. You can check at bankrate.com but keep in mind that the mortgage broker needs to make money. Check how many points they are charging you.
Reply:The rate is good as long as you're not also being charged PMI, which you shouldn't have to with the equity you have in it. Did you get 20% equity because you purchased last year? Remember that you'll be paying closing costs again.
Reply:I would highly recommend doing a 15 year fixed , other wise you will pay more than double the market value , and with property values dropping you may lose your @ss on it ...but on the other hand with consumer debit growing at a record rate In total, consumer credit rose by $12.2 billion to a record $2.469 trillion. The increase was bigger than the $9.5 billion gain analysts had been expecting. During the housing boom, when home sales were hitting records for five consecutive years and prices were soaring, many homeowners tapped the rising value of their homes to finance increased spending by taking out home equity lines of credit.
However, now that home sales are plunging and double-digit increases in housing costs are a thing of the past, home equity lines of credit have become less available. That has pushed consumers back to credit cards to finance their spending.
Analysts are watching closely to see if the steepest slump in housing in 16 years could have a more serious impact on the economy through the wealth effect.
And with democrats possibly taking control of Washington , they are planning a 50 cents per gallon tax increase on Gasoline , and adding a carbon tax to consumer goods , and plans to eliminate the mortgage interest deduction on personal income taxes ...
I say keep spending , go 30 years , and pay over 400 grand for the property , and when the market hits bottom you can sell it for 150 grand ...
Reply:yes it is a good rate. Ask around and see if you can get a better rate but it wont improve by much
How long does it take for your credit rating to clear?
If your credit report is correct, 7 years. If it isn't, you have to challenge it in writing, and it should clear fairly soon after it has been confirmed.
How long does it take for your credit rating to clear?
That depends on your current credit rating. If you are speaking about a recent bankruptcy then you are probably looking at 7-10 years.
If you have unpaid debts then the time can be 4-5 years before you are in the clear. Most debt collectors will see you as a lost cause after that period of time.
Accounts that show up past due will only reflect positively on your credit pending a paid status of some sorts. You can probably settle older debts for pennies on the dollar.
You can read more at http://www.fdnsolutions.com/blog
Give us more detail so that we can answer your question.
Reply:your credit source can change every month. It takes 7 years for bills you don't pay to clear your report. If you pay off the bill you can ask the creditor to remove the mark from your report.
Reply:each individual listing on your credit report remains listed for 5 years. so if you defaulted on your phone bill on 1/3/2005 it will clear that record only on 1/3/2010
Reply:Rules have changed regarding credit. The original answer was 7 years which is typical, but some creditors can see reports and problems from longer than that.
Also, the 3 credit reporting bureaus may have 3 different reports on you. (Experian, TransUnion, Equifax)
You can get all 3 credit reports in some states for free. You can call them and ask about your credit score.
Good Luck-
Reply:Credit agencies stores information from credit grantors and public records, including bankruptcies, judgments and liens. Missed payments and most public record items remain on the credit report for seven years, with the exception of Chapter 7, 11 and 12 bankruptcies, which remain for 10 years, and unpaid tax liens, which remain for up to 15 years.
Active positive information may remain on the report indefinitely.
Requests for your credit history remain on the credit report for up to two years.
How long does it take for your credit rating to clear?
That depends on your current credit rating. If you are speaking about a recent bankruptcy then you are probably looking at 7-10 years.
If you have unpaid debts then the time can be 4-5 years before you are in the clear. Most debt collectors will see you as a lost cause after that period of time.
Accounts that show up past due will only reflect positively on your credit pending a paid status of some sorts. You can probably settle older debts for pennies on the dollar.
You can read more at http://www.fdnsolutions.com/blog
Give us more detail so that we can answer your question.
Reply:your credit source can change every month. It takes 7 years for bills you don't pay to clear your report. If you pay off the bill you can ask the creditor to remove the mark from your report.
Reply:each individual listing on your credit report remains listed for 5 years. so if you defaulted on your phone bill on 1/3/2005 it will clear that record only on 1/3/2010
Reply:Rules have changed regarding credit. The original answer was 7 years which is typical, but some creditors can see reports and problems from longer than that.
Also, the 3 credit reporting bureaus may have 3 different reports on you. (Experian, TransUnion, Equifax)
You can get all 3 credit reports in some states for free. You can call them and ask about your credit score.
Good Luck-
Reply:Credit agencies stores information from credit grantors and public records, including bankruptcies, judgments and liens. Missed payments and most public record items remain on the credit report for seven years, with the exception of Chapter 7, 11 and 12 bankruptcies, which remain for 10 years, and unpaid tax liens, which remain for up to 15 years.
Active positive information may remain on the report indefinitely.
Requests for your credit history remain on the credit report for up to two years.
How do I apply for a copy of my credit rating if I reside in Australia?
Contact Veda Advantage.
Go to www.mycreditfile.com.au, or call 133124.
Go to www.mycreditfile.com.au, or call 133124.
If I take a cash advance and pay it back in less than 3 days will this hurt my credit rating?
I need to pay for the balance owed on my new car Monday but the money required, which I have, won't transfer into my checking account until a day or two after that. They only allow $3,000 to be put on credit cards and I was hoping to put at least $5,000 on them. I have the money to pay off the cards but thought it would be easier to do it this way so I didn't transfer the money from my other accounts sooner.
If I take a cash advance and pay it back in less than 3 days will this hurt my credit rating?
It won't or shouldn't effect your credit rating as long as it is paid back ASAP... BUT you need to think about a few things prior to doing a cash advance from a credit card. What is the fee they will charge for the advance? What about the interest rate? How soon will that interest rate hit your charge account?
Is it possible to make an arrangement to pay the auto off a day or two later? Normally a slow pay %26lt;under 30 day's late%26gt; will not effect overall credit rating. Especially if it is only a one time thing. But if it becomes a habit, then it will effect your overall rating adversly.
What about a short term %26lt;90 day%26gt; bridge loan. The fee's may be less than the charge account's advance rate's.
Just a few things to think on before commiting yourself to any plan of action.
Reply:No it should not. Do you mean cash advance from your credit card? As long as you pay your credit card before or by the due date you should be fine. Why do you need to pay the car off so fast? you can always make your minimum payment on the car loan till your money hits the bank.
Reply:Why do you have to have it by Monday? Is there a reason you can't contact the company who holds your loan and pay it back when you actually have the money so you don't have to borrow anything?
If you take out a cash advance many times there are fees and no grace period on the interest. You need to talk all of that into account before you take it out.
Reply:You can never hurt your credit rating by repaying a loan. In some cases however, it may help your credit history to pay it back over time. Just don't make a late payment, and try to make above your minimum payment each time.
Reply:There is absolutely no reason why this should affect your credit rating, AS LONG AS YOU PAY IT BACK.
Reply:No.
Reply:You desperately need to get a copy of "Total Money Makeover" by Dave Ramsey.
Reply:At worst, it would be better to suck up the late fee on the car payment than to invoke the horrible interest rates (some can be around 500% APR!) and fees associated with a cash advance.
azalea tree
If I take a cash advance and pay it back in less than 3 days will this hurt my credit rating?
It won't or shouldn't effect your credit rating as long as it is paid back ASAP... BUT you need to think about a few things prior to doing a cash advance from a credit card. What is the fee they will charge for the advance? What about the interest rate? How soon will that interest rate hit your charge account?
Is it possible to make an arrangement to pay the auto off a day or two later? Normally a slow pay %26lt;under 30 day's late%26gt; will not effect overall credit rating. Especially if it is only a one time thing. But if it becomes a habit, then it will effect your overall rating adversly.
What about a short term %26lt;90 day%26gt; bridge loan. The fee's may be less than the charge account's advance rate's.
Just a few things to think on before commiting yourself to any plan of action.
Reply:No it should not. Do you mean cash advance from your credit card? As long as you pay your credit card before or by the due date you should be fine. Why do you need to pay the car off so fast? you can always make your minimum payment on the car loan till your money hits the bank.
Reply:Why do you have to have it by Monday? Is there a reason you can't contact the company who holds your loan and pay it back when you actually have the money so you don't have to borrow anything?
If you take out a cash advance many times there are fees and no grace period on the interest. You need to talk all of that into account before you take it out.
Reply:You can never hurt your credit rating by repaying a loan. In some cases however, it may help your credit history to pay it back over time. Just don't make a late payment, and try to make above your minimum payment each time.
Reply:There is absolutely no reason why this should affect your credit rating, AS LONG AS YOU PAY IT BACK.
Reply:No.
Reply:You desperately need to get a copy of "Total Money Makeover" by Dave Ramsey.
Reply:At worst, it would be better to suck up the late fee on the car payment than to invoke the horrible interest rates (some can be around 500% APR!) and fees associated with a cash advance.
azalea tree
What is the best route to go for a 60 day business loan if you have a poor credit rating?
Clean up your credit first, then go to a bank. Anyone willing to make bad-credit loans will want big bucks for the loan. The heavy interest charges may jeopardize your business.
What is the best route to go for a 60 day business loan if you have a poor credit rating?
Try asking for the money through classified ads of your local newspaper.
What is the best route to go for a 60 day business loan if you have a poor credit rating?
Try asking for the money through classified ads of your local newspaper.
How do I fix a poor credit rating that has things on it from years ago? What is the first thing I should do?
I used an online credit repair kit I got at www.creditrepair101site.com and raised my score 60 points. It has guides, sample letters, everything you need to trully do it yourself. There is no need to pay a service hundreds of dollars. The first thing you do is to obtain your credit report. The kit walks you through the whole process. Good luck.
How do I fix a poor credit rating that has things on it from years ago? What is the first thing I should do?
The first thing that should do is get copies of your credit reports from all the bureaus and dispute any inaccuracies, or just dispute everything negative and hope that the creditors don't respond in the allotted time of 30 days and it would deleted from your credit file.
Reply:www.creditinfocenter.com
Reply:The dirty little secret that the credit reporting agencies don't want you to know is that there is NO law that says any information has to be reported on you for seven minutes, much less seven years. They have the right to report information on you for seven or ten or 15 years (depending on the type of information) but it must meet ALL the requirements contained in the Fair Credit Reporting Act. The FCRA contains 340 laws that each piece of information MUST adhere to in order to be reported. If that information does not meet even one of those requirements and you can prove it, it MUST be corrected or removed from your report.
The trick is trying to figure out which requirement that piece of information does not meet. That is why I tell people to use a legitimate professional credit restoration company. Do your due dilligence and research these companies before you decide to use one. Most credit repair companies are scams or they can only remove limited amounts of information from your credit reports. Read my article on ten things to look for in a credit repair company. The link is provided in the source box below. I will also provide a link to the Credit Repair Organizations Act that tells you how credit repair companies must behave.
There are a handful or so of companies out there who can perform good credit restoration services. And even fewer who are willing to put their money where their mouths are. But when you do decide to use one, be prepared to invest time. This cannot be done overnight or even in one month as some would like you to believe. In order to do the job correctly, it can take six months or longer. Check the laws of the State that the company is located in as well. Many States are now requiring that credit repair companies stay with you for 18 months in order to ensure that the information they remove for you stays removed. If the company you choose will not stay with you for that long, I would be very concerned.
If you have any further questions about your credit issues, please feel free to contact me at nebula7693@yahoo.com
How do I fix a poor credit rating that has things on it from years ago? What is the first thing I should do?
The first thing that should do is get copies of your credit reports from all the bureaus and dispute any inaccuracies, or just dispute everything negative and hope that the creditors don't respond in the allotted time of 30 days and it would deleted from your credit file.
Reply:www.creditinfocenter.com
Reply:The dirty little secret that the credit reporting agencies don't want you to know is that there is NO law that says any information has to be reported on you for seven minutes, much less seven years. They have the right to report information on you for seven or ten or 15 years (depending on the type of information) but it must meet ALL the requirements contained in the Fair Credit Reporting Act. The FCRA contains 340 laws that each piece of information MUST adhere to in order to be reported. If that information does not meet even one of those requirements and you can prove it, it MUST be corrected or removed from your report.
The trick is trying to figure out which requirement that piece of information does not meet. That is why I tell people to use a legitimate professional credit restoration company. Do your due dilligence and research these companies before you decide to use one. Most credit repair companies are scams or they can only remove limited amounts of information from your credit reports. Read my article on ten things to look for in a credit repair company. The link is provided in the source box below. I will also provide a link to the Credit Repair Organizations Act that tells you how credit repair companies must behave.
There are a handful or so of companies out there who can perform good credit restoration services. And even fewer who are willing to put their money where their mouths are. But when you do decide to use one, be prepared to invest time. This cannot be done overnight or even in one month as some would like you to believe. In order to do the job correctly, it can take six months or longer. Check the laws of the State that the company is located in as well. Many States are now requiring that credit repair companies stay with you for 18 months in order to ensure that the information they remove for you stays removed. If the company you choose will not stay with you for that long, I would be very concerned.
If you have any further questions about your credit issues, please feel free to contact me at nebula7693@yahoo.com
How do you find out your credit rating? What do typical results mean?
www.annualcreditreport is the safest and best place to obtain a free copy of your credit report with each of the 3 credit bureaus. You will not receive a credit score with this free report but you can pay money if you would like to see your score.
On your credit report you will see a history for each account. A 1 in your credit history means the payment was made on time. A 2 means you had a 30 day late, 3 - 60 days late, 4 - 90 days late etc... all the way up to a 9 which means the account is in collection status.
As for credit scores here is a quick guide to their meaning:
Anything over 720 is excellent
660-719 is very good
600-659 good
500-599 below average
below 500 very bad
How do you find out your credit rating? What do typical results mean?
go to creditreport.com it will give you a full credit report. the first 30 days are free if you are not interested in continuing with them call and cancel your membership before the 30 days are up.
Reply:Careful. Many of these sites are tricky. You can go myFICO.com which is only place to see all 3 FICO Scores from all 3 credit agencies. Check out the FICO Deluxe product.
What's a FICO? FICO is the brand of credit scores that most lenders use. [it can go be other names too like Beacon].
Why all 3? Lenders often use all 3 of your scores to determine your credit risk. Best to look at all three.
Reply:You need to obtain your credit report to learn your credit rating. www.annualcreditreport.com is a site that doesn't have a trial period/fees for any credit report services, but it does have a fee to see your credit score. You can see/print the report.
The results indicate your ability to manage your credit (loan and credit card repayment, etc.). Your credit score guides the decisions of certain business parties. If your credit score is low you're less likely to be approved for major purchases requiring good credit scores, more credit lines, certain jobs, etc.
It's wise to obtain your credit report annually, at minimum, and to make any necessary corrections of any errors that you may find.
Reply:You can get it online with one of the sites like freecreditreport.com
Or call your bank. Many banks are giving customers a free credit report once a year.
Typical score would be anywhere from about 630-680 or so.
On your credit report you will see a history for each account. A 1 in your credit history means the payment was made on time. A 2 means you had a 30 day late, 3 - 60 days late, 4 - 90 days late etc... all the way up to a 9 which means the account is in collection status.
As for credit scores here is a quick guide to their meaning:
Anything over 720 is excellent
660-719 is very good
600-659 good
500-599 below average
below 500 very bad
How do you find out your credit rating? What do typical results mean?
go to creditreport.com it will give you a full credit report. the first 30 days are free if you are not interested in continuing with them call and cancel your membership before the 30 days are up.
Reply:Careful. Many of these sites are tricky. You can go myFICO.com which is only place to see all 3 FICO Scores from all 3 credit agencies. Check out the FICO Deluxe product.
What's a FICO? FICO is the brand of credit scores that most lenders use. [it can go be other names too like Beacon].
Why all 3? Lenders often use all 3 of your scores to determine your credit risk. Best to look at all three.
Reply:You need to obtain your credit report to learn your credit rating. www.annualcreditreport.com is a site that doesn't have a trial period/fees for any credit report services, but it does have a fee to see your credit score. You can see/print the report.
The results indicate your ability to manage your credit (loan and credit card repayment, etc.). Your credit score guides the decisions of certain business parties. If your credit score is low you're less likely to be approved for major purchases requiring good credit scores, more credit lines, certain jobs, etc.
It's wise to obtain your credit report annually, at minimum, and to make any necessary corrections of any errors that you may find.
Reply:You can get it online with one of the sites like freecreditreport.com
Or call your bank. Many banks are giving customers a free credit report once a year.
Typical score would be anywhere from about 630-680 or so.
I need a loan for about $4000 dollars. I make about $2600 a month after taxes and have a poor credit rating.?
I want one that will help rebuild my credit also any help??
I need a loan for about $4000 dollars. I make about $2600 a month after taxes and have a poor credit rating.?
To rebuild your credit, start with a pre-paid credit card.
fr the loan part that is harder. If you have assets you may be able to put them up for collaterial.
Reply:Usually getting a loan from a loan company wont boost your credit. You should apply for a credit card at your bank.
lily
I need a loan for about $4000 dollars. I make about $2600 a month after taxes and have a poor credit rating.?
To rebuild your credit, start with a pre-paid credit card.
fr the loan part that is harder. If you have assets you may be able to put them up for collaterial.
Reply:Usually getting a loan from a loan company wont boost your credit. You should apply for a credit card at your bank.
lily
How can I get a FICO credit rating when I have never had credit before?
There are still only three major credit reporting agencies (TransUnion, Experian and Equifax), and most lenders either buy credit reports from them or send your account information to them. FICO, built by Fair Isaac, is a credit score that resides on the mainframes of all three agencies. But many people – an estimated 50 million in the U.S. – do not have any credit with lenders who report to the “Big 3” credit agencies, which makes it extremely difficult for them to get loans at competitive rates.
You can find information on how to start building a credit score on this blog:
http://fixingyourcredit.blogspot.com/200...
How can I get a FICO credit rating when I have never had credit before?
It sounds like you are trying to build your credit. First, start with a 'secured card' - one that is secured by a bank account. Even just opening a checking account helps. Right now credit is difficult to get. Look at some of the opportunities that are mailed to you. Don't be afraid of a credit card with a high interest rate - you can always pay it off every month.
Reply:You can re-build your credit without going into debt. Here's how:
1. Borrow at least $5,000. just to hold it on deposit, and not touch it. If you agree to just hold it on deposit, you can borrow it from creditloader.com with NO CREDIT CHECK.
2. Make payments on the loan for at least 6 months.
3. Give back the deposit to pay off the loan.
When you are done, your credit will show that you borrowed $5,000., were able to make payments on it, and paid it back ahead of time. THAT'S HOW TO BUILD SERIOUS CREDIT.
Reply:Due to the passage of the 2003 Fair and Accurate Credit Transaction Act (FACTA), all Americans are entitled to one free credit report from each of the three major credit reporting agencies -- Equifax, Experian and TransUnion -- upon request every 12 months. Tip: Do one from each co every 3 months so yearly you can start over. There are several ways you can request your free credit report:
•Online: Visit AnnualCreditReport.com
•Telephone: (877)-322-8228
•Mail: Complete the Annual Credit Report Request form and mail it to the following address:
Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281
Free Credit Report:
http://www.myfico.com/Default.aspx
For a copy of your FREE FICO score
creditkarma.com
quizzle.com
credit.com
=====
Reply:Credit Guy is right on. I used creditloader.com and so did some of my friends. It's fast, easy, inexpensive, and it really works.
What I liked is that I built my credit without going in to debt. I didn't have to buy a car or something stupid just to build my credit. I just borrowed money to hold, then gave it back. It even made me look good to have all that cash on deposit.
Reply:You have to open some kind of revolving or installment account, and have it for six months before you can generate a FICO score.
You can find information on how to start building a credit score on this blog:
http://fixingyourcredit.blogspot.com/200...
How can I get a FICO credit rating when I have never had credit before?
It sounds like you are trying to build your credit. First, start with a 'secured card' - one that is secured by a bank account. Even just opening a checking account helps. Right now credit is difficult to get. Look at some of the opportunities that are mailed to you. Don't be afraid of a credit card with a high interest rate - you can always pay it off every month.
Reply:You can re-build your credit without going into debt. Here's how:
1. Borrow at least $5,000. just to hold it on deposit, and not touch it. If you agree to just hold it on deposit, you can borrow it from creditloader.com with NO CREDIT CHECK.
2. Make payments on the loan for at least 6 months.
3. Give back the deposit to pay off the loan.
When you are done, your credit will show that you borrowed $5,000., were able to make payments on it, and paid it back ahead of time. THAT'S HOW TO BUILD SERIOUS CREDIT.
Reply:Due to the passage of the 2003 Fair and Accurate Credit Transaction Act (FACTA), all Americans are entitled to one free credit report from each of the three major credit reporting agencies -- Equifax, Experian and TransUnion -- upon request every 12 months. Tip: Do one from each co every 3 months so yearly you can start over. There are several ways you can request your free credit report:
•Online: Visit AnnualCreditReport.com
•Telephone: (877)-322-8228
•Mail: Complete the Annual Credit Report Request form and mail it to the following address:
Annual Credit Report Request Service
P.O. Box 105281
Atlanta, GA 30348-5281
Free Credit Report:
http://www.myfico.com/Default.aspx
For a copy of your FREE FICO score
creditkarma.com
quizzle.com
credit.com
=====
Reply:Credit Guy is right on. I used creditloader.com and so did some of my friends. It's fast, easy, inexpensive, and it really works.
What I liked is that I built my credit without going in to debt. I didn't have to buy a car or something stupid just to build my credit. I just borrowed money to hold, then gave it back. It even made me look good to have all that cash on deposit.
Reply:You have to open some kind of revolving or installment account, and have it for six months before you can generate a FICO score.
Where can I get guaranteed motorcycle finance in Australia with a bad credit rating?
The best way is to try to borrow from the dealer.
Or go to your bank qand secure the loan with some assets - or a co-signer.
Where can I get guaranteed motorcycle finance in Australia with a bad credit rating?
Motor finance wizard says yes! but ive heard the catch is they select your purchase for you and overcharge you whilst at the same time claiming the loan to be interest free. I dont know of any good ones. Good luck.
Reply:In Australia, you can try Citibank Car Loan, HSBC or Liberty Financial. I know they all offer bad credit auto loan financing, but you will need to call them about motorcycles. Good Luck.
Or go to your bank qand secure the loan with some assets - or a co-signer.
Where can I get guaranteed motorcycle finance in Australia with a bad credit rating?
Motor finance wizard says yes! but ive heard the catch is they select your purchase for you and overcharge you whilst at the same time claiming the loan to be interest free. I dont know of any good ones. Good luck.
Reply:In Australia, you can try Citibank Car Loan, HSBC or Liberty Financial. I know they all offer bad credit auto loan financing, but you will need to call them about motorcycles. Good Luck.
Can settling a IRS debt damage your credit rating?
I've seen commercials on tv from companies who can help people who owe the IRS thousands, settle for pennies on the dollar. I heard this can do damage to your credit rating. Is this true? I don't owe them any money. I was just curious.
Can settling a IRS debt damage your credit rating?
Yes, of course it will damage your credit.
Reply:your credit rating is all ready damaged since the IRS will usually file a lien on your anyways to protect their interest, and unlike other judgements, the IRS and student loans survive bankruptcy and are good for 10 years from the date of filing.
as for the settlements ( called OIC or Offers In Compromise )
you can fill out the paperwork and submit and offer
there is no guarantee they will accept it either
either that or work out a payment arrangement
those tax lien settlement companies cannot guarantee acceptance in an OIC offer, but it's funny the want to paid up front anywhere from 2 to 5 thousand dollars to have them try, up front.
Can settling a IRS debt damage your credit rating?
Yes, of course it will damage your credit.
Reply:your credit rating is all ready damaged since the IRS will usually file a lien on your anyways to protect their interest, and unlike other judgements, the IRS and student loans survive bankruptcy and are good for 10 years from the date of filing.
as for the settlements ( called OIC or Offers In Compromise )
you can fill out the paperwork and submit and offer
there is no guarantee they will accept it either
either that or work out a payment arrangement
those tax lien settlement companies cannot guarantee acceptance in an OIC offer, but it's funny the want to paid up front anywhere from 2 to 5 thousand dollars to have them try, up front.
How can i repair my credit rating?
my credit score is so bad from my past that i cannot get accepted for anything, not even capital one will consider me. However strangely i recently got accepted for a contract from vodafone. Keeping that up to date will help a little but how can i speed up the process of raising my credit score? i have copies of my report from experian and equifax and it doesn't look good.
How can i repair my credit rating?
It can take a while but if you continue to pay your contract phone on time you will start to build up a decent credit record.
A site I've used for info in the past ...
http://debt.knowledged.info/credit_card....
Hope that helps.
Reply:I am not sure exactly what kind of situation you are in, however, the obvious solution is gradually paying off your debt. One thing you should do is not open any new credit cards. One way to gain back some credibility is to show you can make monthly payments keeping at least 5 credit lines to prove this. There are companies out there that will prey on people with low credit scores and in turn charge you a high interest rate if you just make the minimum payment or miss a payment. I suggest looking at your vodafone contract more closely to not fall into this trap. Also, it is very easy to live outside of our means because of how easy it is to swipe plastic. Try setting a budget to see if this helps any.
Reply:If you don't have any more credit cards because they all went to collection... then there is little you can do but wait.
unless you intent to pay the collection agencies what you owe.
And even that will not immediately help you with bad entries on your credit report. They will stay on there for a long, long time:
About 7 to 10 years... to be exact...
Be glad that vodafone still let you have an account but don't think that paying them faithfully will do anything to improve your credit score.
They only check to see whether you are credit worthy and you got lucky. But paying your phone bill is not something that is recorded in your credit report... only credit cards, car loans, mortgages and other loans you got from a bank.
I hate to paint such a bad picture... but I just don't know how else to interpret your question when you quote that not even Capitol One will give you a credit card...
Reply:The best way is to basically re-build it from the ground up. Don't make any outrageous purchases on a credit card that can't be paid off. Make sure you pay the minumum amount each month, if not the whole thing so you don't keep exacerbating the problem. Also make sure you keep up to date on all your loans--%26gt; mortgage, auto, etc. These factors also knock your credit score as well.
Reply:call your past creditors and make a deal to pay them off (they would rather get something then nothing.ask them to come up with a lower amount(they will) make sure you block your phone #!!
get utilities (then after a yr you can ask for a letter)
rent,car payments,
cell phone
so on...
it will bring it up or file bancrupcy but i hate to say that one.
Reply:first of all you want to contact a credit counselor someone who can help you analyze your credit report.
once you do that you may have to dispute negative items on your credit report and then you have to start building your credit to get back in the game of lending.
what i would advise you is to stay away from credit repair companies and law firms that want to charge you thousand of dollars to do this. Most of the work you can do yourself .
i can refer you to a website that has the tools to help you.
http://www.youreasyfinance.com
if you have any questions please fill free to email me at
mnicole1611@hotmail.com
Reply:it usually takes 7 years to repair your credit
Reply:pay any overdue balances
and keep current with any monthly payments you have to make
and don't stop
Reply:get out of the credit cards asap
myspaces.com
How can i repair my credit rating?
It can take a while but if you continue to pay your contract phone on time you will start to build up a decent credit record.
A site I've used for info in the past ...
http://debt.knowledged.info/credit_card....
Hope that helps.
Reply:I am not sure exactly what kind of situation you are in, however, the obvious solution is gradually paying off your debt. One thing you should do is not open any new credit cards. One way to gain back some credibility is to show you can make monthly payments keeping at least 5 credit lines to prove this. There are companies out there that will prey on people with low credit scores and in turn charge you a high interest rate if you just make the minimum payment or miss a payment. I suggest looking at your vodafone contract more closely to not fall into this trap. Also, it is very easy to live outside of our means because of how easy it is to swipe plastic. Try setting a budget to see if this helps any.
Reply:If you don't have any more credit cards because they all went to collection... then there is little you can do but wait.
unless you intent to pay the collection agencies what you owe.
And even that will not immediately help you with bad entries on your credit report. They will stay on there for a long, long time:
About 7 to 10 years... to be exact...
Be glad that vodafone still let you have an account but don't think that paying them faithfully will do anything to improve your credit score.
They only check to see whether you are credit worthy and you got lucky. But paying your phone bill is not something that is recorded in your credit report... only credit cards, car loans, mortgages and other loans you got from a bank.
I hate to paint such a bad picture... but I just don't know how else to interpret your question when you quote that not even Capitol One will give you a credit card...
Reply:The best way is to basically re-build it from the ground up. Don't make any outrageous purchases on a credit card that can't be paid off. Make sure you pay the minumum amount each month, if not the whole thing so you don't keep exacerbating the problem. Also make sure you keep up to date on all your loans--%26gt; mortgage, auto, etc. These factors also knock your credit score as well.
Reply:call your past creditors and make a deal to pay them off (they would rather get something then nothing.ask them to come up with a lower amount(they will) make sure you block your phone #!!
get utilities (then after a yr you can ask for a letter)
rent,car payments,
cell phone
so on...
it will bring it up or file bancrupcy but i hate to say that one.
Reply:first of all you want to contact a credit counselor someone who can help you analyze your credit report.
once you do that you may have to dispute negative items on your credit report and then you have to start building your credit to get back in the game of lending.
what i would advise you is to stay away from credit repair companies and law firms that want to charge you thousand of dollars to do this. Most of the work you can do yourself .
i can refer you to a website that has the tools to help you.
http://www.youreasyfinance.com
if you have any questions please fill free to email me at
mnicole1611@hotmail.com
Reply:it usually takes 7 years to repair your credit
Reply:pay any overdue balances
and keep current with any monthly payments you have to make
and don't stop
Reply:get out of the credit cards asap
myspaces.com
How can you fix a bad credit rating?Do late c/card payments give u a bad rating?
You've already got a lot of good advice here, but I'm summarizing here for emphasis. Pay your bills ON TIME, pay all those old debts you've been HIDING from, CUT UP your credit cards, and (unless you are starving or sleeping in an alley somewhere) PAY AS YOU GO. It feels soooooo GOOD to be debt free. You do need to have a good credit rating to ever buy a house, so you should only use a credit card when you know absolutely that you can pay it. Otherwise 'tighten your belt.'
How can you fix a bad credit rating?Do late c/card payments give u a bad rating?
ye i think so
Reply:To fix a bad credit rating, get a copy of yor credit report and go over it with a fine tooth comb. Dispute anything and everything that you think is either wrong or will not be answered, if a company doesn't answer the dispute in an allotted time then it comes off so it's a gamble.
Paying down all your balances is the obvious answer but also don't submit any new applications for credit for a while. No new purchases either! I have no idea what your balances are but if your credit is bad chances are you're paying an arm and a leg in interest, contact your credit card companies and see if they'll lower your interest. If you have high balances you can try to work out a payment schedule with them.
As for the 2nd question. Late credit card payments only give you a bad rating if they are over 30 days late. The longer that they are late the worse it is for you because they report 30,60,90 days etc...However you should avoid late payments all together because even 1 day late can cost you as much as $40 in late fees, yikes!
Reply:yes they do to keep your rating good, make every payment on time.
Reply:A bad credit rating would take atleast 6 months to be fixed cos the credit companies and the beaureu review the credit every 6 months.
YES! late payments/failure to make payments on time do affect ur credit rating negatively as you become a risky customer to be given credit.. also your APR is jacked and is almost doubled once you fail to pay on time for 2 consecutive billing cycles.
Reply:There a certain ways which can aid to improve credit ratings. One, and the most important one, is to make timely payments.
Some others, not to let debt became that delinquent that is had to be handed over to a collection agency.
If you have debts, establish open communications and try to work things out, that can avoid further negs on the credit rating, which will lower the score. And even if things are delinquent and it has been reported to the credit rating, there are always thing to be looked out for: Is the balance amount correct which is shown to be owed? Do more than just one company claim the same thing delinquent/unsolved? (happens usually when debt titles are being sold/transfered from one collection agency to another).
As for credit card payments, it's at the sole discretion of the cc company to file a negative rating if that is a continues situation and the prinicipal debt balance remains unpaid.
Reply:The only way you can fix your credit rating is clear your debts and try and make payments for stuff promptly and on time.
Reply:contact experian. Pay the £1 or £2 fee and they will send you a credit report. You will then see why, if you have, been refused credit. You may rack up points for late payments. Each time you apply for credit, successfully or not, you get more points.
See if you owe anything. Pay it off and then contact Experian with evidence of settlement and they will then adjust your Credit report.
How can you fix a bad credit rating?Do late c/card payments give u a bad rating?
ye i think so
Reply:To fix a bad credit rating, get a copy of yor credit report and go over it with a fine tooth comb. Dispute anything and everything that you think is either wrong or will not be answered, if a company doesn't answer the dispute in an allotted time then it comes off so it's a gamble.
Paying down all your balances is the obvious answer but also don't submit any new applications for credit for a while. No new purchases either! I have no idea what your balances are but if your credit is bad chances are you're paying an arm and a leg in interest, contact your credit card companies and see if they'll lower your interest. If you have high balances you can try to work out a payment schedule with them.
As for the 2nd question. Late credit card payments only give you a bad rating if they are over 30 days late. The longer that they are late the worse it is for you because they report 30,60,90 days etc...However you should avoid late payments all together because even 1 day late can cost you as much as $40 in late fees, yikes!
Reply:yes they do to keep your rating good, make every payment on time.
Reply:A bad credit rating would take atleast 6 months to be fixed cos the credit companies and the beaureu review the credit every 6 months.
YES! late payments/failure to make payments on time do affect ur credit rating negatively as you become a risky customer to be given credit.. also your APR is jacked and is almost doubled once you fail to pay on time for 2 consecutive billing cycles.
Reply:There a certain ways which can aid to improve credit ratings. One, and the most important one, is to make timely payments.
Some others, not to let debt became that delinquent that is had to be handed over to a collection agency.
If you have debts, establish open communications and try to work things out, that can avoid further negs on the credit rating, which will lower the score. And even if things are delinquent and it has been reported to the credit rating, there are always thing to be looked out for: Is the balance amount correct which is shown to be owed? Do more than just one company claim the same thing delinquent/unsolved? (happens usually when debt titles are being sold/transfered from one collection agency to another).
As for credit card payments, it's at the sole discretion of the cc company to file a negative rating if that is a continues situation and the prinicipal debt balance remains unpaid.
Reply:The only way you can fix your credit rating is clear your debts and try and make payments for stuff promptly and on time.
Reply:contact experian. Pay the £1 or £2 fee and they will send you a credit report. You will then see why, if you have, been refused credit. You may rack up points for late payments. Each time you apply for credit, successfully or not, you get more points.
See if you owe anything. Pay it off and then contact Experian with evidence of settlement and they will then adjust your Credit report.
Whats the fastest way to improve credit rating?
also what is the best way...besides making payments on time lol...
my husband filed bankrupt about 10 years ago (before he and i got together) b/c his son passed away when he was 13 months.Thanks
Whats the fastest way to improve credit rating?
The best way I found to restore credit is to borrow funds just to hold them on deposit, make some interest payments, then give back the deposit to pay off the loan. If you agree to just hold the funds on deposit, http://creditloader.com will let you borrow the funds with NO CREDIT CHECK. After three months I was on a few bureaus.
Reply:Pay off your credit cards. A big part of your score is based on the ratio of credit card debt to available limit. Carrying balances of more than 30% hurts your score. Pay the balances off, and get an immediate boost in your score.
If you have single entry derogatory items like cell phone, medical, and utility bills, you can negotiate a pay for delete. This gets the item removed from your file and helps your score. This doesn't work as well for multiple entry items like credit cards. The collector can only remove what they reported. The original creditor's charge off stays on your file.
Other than that, it's a matter of consistent, on-time payment history.
Reply:If the bankruptcy is over 10 years ago and the debt was discharged it shouldn't still be on his credit report, did you check your credit reports? You can get them for free, for more information on getting your credit report for free and improving your credit rating read these articles, http://www.monitorbankrates.com/how-to-b...
http://www.monitorbankrates.com/you-are-...
Reply:Get a Capital One card. It's limit is only 300.00, then buy things, and make payments for 3 or 4 months. Don't pay off the card. Keep making payments because they like that. It shows the card companies that you pay interest. Other banks will send card offers for more money, and capital one will also increase to 500 after 3 months.
Reply:develop a pattern for paying your bills on time, show consistency in payment for a particular item(s).
my husband filed bankrupt about 10 years ago (before he and i got together) b/c his son passed away when he was 13 months.Thanks
Whats the fastest way to improve credit rating?
The best way I found to restore credit is to borrow funds just to hold them on deposit, make some interest payments, then give back the deposit to pay off the loan. If you agree to just hold the funds on deposit, http://creditloader.com will let you borrow the funds with NO CREDIT CHECK. After three months I was on a few bureaus.
Reply:Pay off your credit cards. A big part of your score is based on the ratio of credit card debt to available limit. Carrying balances of more than 30% hurts your score. Pay the balances off, and get an immediate boost in your score.
If you have single entry derogatory items like cell phone, medical, and utility bills, you can negotiate a pay for delete. This gets the item removed from your file and helps your score. This doesn't work as well for multiple entry items like credit cards. The collector can only remove what they reported. The original creditor's charge off stays on your file.
Other than that, it's a matter of consistent, on-time payment history.
Reply:If the bankruptcy is over 10 years ago and the debt was discharged it shouldn't still be on his credit report, did you check your credit reports? You can get them for free, for more information on getting your credit report for free and improving your credit rating read these articles, http://www.monitorbankrates.com/how-to-b...
http://www.monitorbankrates.com/you-are-...
Reply:Get a Capital One card. It's limit is only 300.00, then buy things, and make payments for 3 or 4 months. Don't pay off the card. Keep making payments because they like that. It shows the card companies that you pay interest. Other banks will send card offers for more money, and capital one will also increase to 500 after 3 months.
Reply:develop a pattern for paying your bills on time, show consistency in payment for a particular item(s).
How can i find out my credit rating free?
i keep getting turned down for credit and dont know why?!.Does it go on the persons rating or the address.?
How can i find out my credit rating free?
Go to freecreditreport.com and sign up for their trial period. Just be sure and cancel before the trial period is up or your credit card will be charged. It goes along with you ssn.
Reply:I'd try what Nicole said, but make sure that you cancel in time if you can do this. I didn't think there was a way to get your actual score for free, but the credit reports are once a year.
Reply:simply go on the Internet.
Reply:Experian website (theres a free trial at moment) otherwise send them your details and last addresses from 3 years with a payment of £2.
Reply:Experian do a service where you pay a subscription and get as much access to your credit report as you like. You can try this service for free, providing you remember to ring up and cancel before 30 days are up.
Otherwise you can order a one off report for just £2.
The other credit reference agency is equifax.
Freecreditreport.com and annualcreditreport.com are US sites so not applicable as this question is a UK based one!
Reply:You can go to annualcreditreport.com, unfortunately you can't get the scores. You will be able to see what accounts are showing up negatively however.
Here is a link to some info on how to clean your credit up yourself:
http://getprequalified.com/article_list_...
Reply:If your credit needs repair, start work on it now. Start paying off old unpaid debts and loans, starting with the smallest ones. Start paying more than the minimum payment on your current credit card payments. Do not get into any new debt. This is essential. Make it a priority to get out of debt. Cut up (or lock up) the credit cards, if they are a problem for you. Make it a commitment to become debt free. Live within your means. Make a budget and live by it. Start saving money. If you have poor credit, it is much easier to buy a home or a car with a cash down payment, than without one. Even the debts lowered may be subject to costly fees during the tax invasion season. If you are fortunate to find a debt consolidation program that will help you without charging outrageous fees, then by all means consolidate your debts with the program's help.
There are many sources of help available. Consumer Credit Counseling Service is one of the best for help repairing credit and getting debt under control. Consumer Credit Counseling Service provides budget counseling, educational programs, debt management assistance and housing counseling. There are also many local branches of this nonprofit organization, so check for one near your location. There are many “for profit” organizations that will help you with debt consolidation loans, but beware! They often are very expensive. You can get free reliable help that you can trust from a non-profit organization like Consumer Credit Counseling Service instead of paying hundreds of dollars to one of them. Or, you can educate yourself and do it for free.
Reply:you are entitled to one free credit report per year from all three bureaus, and there is no trial membership or anything like that, but you will have to pay for your scores
How can i find out my credit rating free?
Go to freecreditreport.com and sign up for their trial period. Just be sure and cancel before the trial period is up or your credit card will be charged. It goes along with you ssn.
Reply:I'd try what Nicole said, but make sure that you cancel in time if you can do this. I didn't think there was a way to get your actual score for free, but the credit reports are once a year.
Reply:simply go on the Internet.
Reply:Experian website (theres a free trial at moment) otherwise send them your details and last addresses from 3 years with a payment of £2.
Reply:Experian do a service where you pay a subscription and get as much access to your credit report as you like. You can try this service for free, providing you remember to ring up and cancel before 30 days are up.
Otherwise you can order a one off report for just £2.
The other credit reference agency is equifax.
Freecreditreport.com and annualcreditreport.com are US sites so not applicable as this question is a UK based one!
Reply:You can go to annualcreditreport.com, unfortunately you can't get the scores. You will be able to see what accounts are showing up negatively however.
Here is a link to some info on how to clean your credit up yourself:
http://getprequalified.com/article_list_...
Reply:If your credit needs repair, start work on it now. Start paying off old unpaid debts and loans, starting with the smallest ones. Start paying more than the minimum payment on your current credit card payments. Do not get into any new debt. This is essential. Make it a priority to get out of debt. Cut up (or lock up) the credit cards, if they are a problem for you. Make it a commitment to become debt free. Live within your means. Make a budget and live by it. Start saving money. If you have poor credit, it is much easier to buy a home or a car with a cash down payment, than without one. Even the debts lowered may be subject to costly fees during the tax invasion season. If you are fortunate to find a debt consolidation program that will help you without charging outrageous fees, then by all means consolidate your debts with the program's help.
There are many sources of help available. Consumer Credit Counseling Service is one of the best for help repairing credit and getting debt under control. Consumer Credit Counseling Service provides budget counseling, educational programs, debt management assistance and housing counseling. There are also many local branches of this nonprofit organization, so check for one near your location. There are many “for profit” organizations that will help you with debt consolidation loans, but beware! They often are very expensive. You can get free reliable help that you can trust from a non-profit organization like Consumer Credit Counseling Service instead of paying hundreds of dollars to one of them. Or, you can educate yourself and do it for free.
Reply:you are entitled to one free credit report per year from all three bureaus, and there is no trial membership or anything like that, but you will have to pay for your scores
How do I find out my credit history, rating and where my debts are?
I would like to find out where my debts are, so I can clear my credit history. If anyone knows how I can do this for free please let me know. Thanks
How do I find out my credit history, rating and where my debts are?
Annual credit report. com
Reply:freecreditreport.com
stay focused, because other sites will pop up that are not free.
this site allows you to view bi annually for free.
Reply:You are allowed 1 free credit report annually by law. The link is https://www.annualcreditreport.com/cra/i...
When you use freecreditreport.com, you are agreeing to sign up for a trial membership to Triple AdvantageSM Credit Monitoring
Here is the disclaimer from their site
When you order your free report here, you will begin your free trial membership in Triple AdvantageSM Credit Monitoring. If you don't cancel your membership within the 30-day trial period, you will be billed $12.95 for each month that you continue your membership
Reply:MY NAME IS TIERNEY i AM TRYING TO GET MY CREDIT AND DEBT STRAIGHT SO THAT IN THE FUTURE i CAN PURCHASE A HOUSE.
Genealogy
How do I find out my credit history, rating and where my debts are?
Annual credit report. com
Reply:freecreditreport.com
stay focused, because other sites will pop up that are not free.
this site allows you to view bi annually for free.
Reply:You are allowed 1 free credit report annually by law. The link is https://www.annualcreditreport.com/cra/i...
When you use freecreditreport.com, you are agreeing to sign up for a trial membership to Triple AdvantageSM Credit Monitoring
Here is the disclaimer from their site
When you order your free report here, you will begin your free trial membership in Triple AdvantageSM Credit Monitoring. If you don't cancel your membership within the 30-day trial period, you will be billed $12.95 for each month that you continue your membership
Reply:MY NAME IS TIERNEY i AM TRYING TO GET MY CREDIT AND DEBT STRAIGHT SO THAT IN THE FUTURE i CAN PURCHASE A HOUSE.
Genealogy
Where can I get a credit card if I have poor credit rating.?
I already have a Capital One card - anyone know of another company.
Where can I get a credit card if I have poor credit rating.?
*Capital One Classic Credit Card
This credit card offers the chance to rebuild your credit rating as it is designed especially for those with a bad credit history or whose application for credit has previously been declined.
# Credit limit between £200 and £2,500
# Low monthly payments
# No annual fee
*Vanquis Abacus Visa Credit Card
Vanquis specialises in understanding individual’s circumstances, they’ve already helped over 100,000 people with a poor credit rating. They'll consider you if you are new to credit, have a bad credit history, or have had credit problems or CCJs in the past.
Typical APR 39.9% variable
*Aqua Credit Card
Aqua have helped over 100,000 people including individuals with adverse credit history and people with difficulties proving a regular income such as the self employed, or those that work part-time or are on low incomes.
Reply:Household Credit.
Reply:I've got a poor credit rating. I get my credit card from stealing them from other people (this also has the benifit that I do not have to worry about repayment or the interest rate)
Reply:Try to avoid doing this. There are an awful lot of people in financial difficulties already in this country because of the greed of credit card companies.
If you do take out another card, beware of payment protection insurance. In theory there are cheaper alternatives to what the credit card companies offer. There's a big stink being kicked up about this right now.
Reply:I wouldnt have thought it mattered,once you get one,you can get more,they will be falling overthemselves to saddle you with debt.
personally I wouldnt,stick to a debit card %26amp; live without credit %26amp; thus debt free.
Reply:Orchard, Bank First or 1st Premier.....
http://www.expert-credit-advice.com/cred...
http://www.goeufora.com/418121496892
http://www.chasefreedomnow.com/?CELL=6F6...
http://www.ftc.gov/bcp/conline/edcams/cr...
Reply:juniper, but it sounds like you don't need it!
Reply:My credit wasn't too get either and I am still working on improving it. I had a credit card with first priemer bank they started me off with a small amount then it went up after two years to which I rarely used it only got it to help build my credit.
There are prepaid credit cards that you can purchase at check cashing places for under 10 bucks or search the web for opportunities to rebuild your credit using credit cards all geared toward helping you with money management skills -- which is essential for good credit. - good luck -
Reply:Virgin are very tolerant even if you have ccj's and also suprisingly Barclaycard offer a good one too to adverse credit history customers.
Banking wise Natwest are the best as they are very understanding.
Where can I get a credit card if I have poor credit rating.?
*Capital One Classic Credit Card
This credit card offers the chance to rebuild your credit rating as it is designed especially for those with a bad credit history or whose application for credit has previously been declined.
# Credit limit between £200 and £2,500
# Low monthly payments
# No annual fee
*Vanquis Abacus Visa Credit Card
Vanquis specialises in understanding individual’s circumstances, they’ve already helped over 100,000 people with a poor credit rating. They'll consider you if you are new to credit, have a bad credit history, or have had credit problems or CCJs in the past.
Typical APR 39.9% variable
*Aqua Credit Card
Aqua have helped over 100,000 people including individuals with adverse credit history and people with difficulties proving a regular income such as the self employed, or those that work part-time or are on low incomes.
Reply:Household Credit.
Reply:I've got a poor credit rating. I get my credit card from stealing them from other people (this also has the benifit that I do not have to worry about repayment or the interest rate)
Reply:Try to avoid doing this. There are an awful lot of people in financial difficulties already in this country because of the greed of credit card companies.
If you do take out another card, beware of payment protection insurance. In theory there are cheaper alternatives to what the credit card companies offer. There's a big stink being kicked up about this right now.
Reply:I wouldnt have thought it mattered,once you get one,you can get more,they will be falling overthemselves to saddle you with debt.
personally I wouldnt,stick to a debit card %26amp; live without credit %26amp; thus debt free.
Reply:Orchard, Bank First or 1st Premier.....
http://www.expert-credit-advice.com/cred...
http://www.goeufora.com/418121496892
http://www.chasefreedomnow.com/?CELL=6F6...
http://www.ftc.gov/bcp/conline/edcams/cr...
Reply:juniper, but it sounds like you don't need it!
Reply:My credit wasn't too get either and I am still working on improving it. I had a credit card with first priemer bank they started me off with a small amount then it went up after two years to which I rarely used it only got it to help build my credit.
There are prepaid credit cards that you can purchase at check cashing places for under 10 bucks or search the web for opportunities to rebuild your credit using credit cards all geared toward helping you with money management skills -- which is essential for good credit. - good luck -
Reply:Virgin are very tolerant even if you have ccj's and also suprisingly Barclaycard offer a good one too to adverse credit history customers.
Banking wise Natwest are the best as they are very understanding.
Starting with a good credit rating?
Okay, I'm 19 and know next to nothing about credit ratings. I have a debit card linked to my bank account, but I've never had a real credit card of any kind. Can anyone tell me the basics, and how I would go about getting a good credit rating? I want to become a homeowner as soon as possible and I know I need a good credit rating.
Thanks in advance!(ten points to the best answer!)
Starting with a good credit rating?
Bob, you're in a perfect position to begin a lifetime of good credit. It will take a little time, but building a solid credit foundation will be one of the best things you will ever do.
Firstly, your debit card linked to your bank account in no way affects your credit report, so let's cut that out of the mix.
Next, I could say everything that these articles say, but they've done all the work for me. Check out the tips on these pages for people like you starting out with no credit - they are tried and true:
http://financialplan.about.com/cs/credit...
http://www.360financialliteracy.org/Life...
Also, here are some websites to read when you have some time. They will teach you the ins and outs of credit, including your credit report and credit score. Understanding all the information is important in making wise decisions in the future!
http://www.credit.com/credit_information...
http://www.crediteducation.org/
http://www.mymoney.gov/mymoneyinfo.shtml...
The more you know, the better you'll do. :)
Good luck,
-AskYourQ
Reply:Well since you have NO credit history to get a credit card you would have to pay at least $200 for fees to get one. Ive tried applying for credit cards b/c I dont have any credit history either and get turned down I only get offered the ones where you have to pay $200 just to get one. When you get a credit card just buy what you can pay back. Be aware of APR fees. When you buy something divide the APR by 12 and times by the amount of whatever it is you buy. Thats how much you have to pay back. Make sure you pay your bills on time or your credit score will go down. Dont go overboard when you buy things with your credit card. Having bad credit history makes life hard. Remember a credit card is CREDIT not money.
Reply:First let me say that you sound like a well informed young man. Now, check with your bank to see if they offer a credit card. BofA has credit card with low credit limits. Build your financial relationship with your bank...but if your bank is small then consider moving to a National bank that has more options. Lastly, my wife and I used this site http://www.mycreditadvise.com to research and learn more about building up her credit rating.
Good Luck!
Reply:The previous person is incorrect, you do not need to pay $200 fee to open a credit card.
Soon after my 18th birthday, I applied for my first credit card and got approved. I started with the Target Store card. I also got a Sears card. (oh the power of being 18) Not too long after that I got "real cards" such as a CitiCard. One of the keys to having a good credit rating is always paying on time (I always paid off the balance completely). Currently, my credit score is in the mid-700s, which is pretty good. Also, never overdraw your bank account. Basically, just do what you are supposed to and you will gain credit. Good luck!
Thanks in advance!(ten points to the best answer!)
Starting with a good credit rating?
Bob, you're in a perfect position to begin a lifetime of good credit. It will take a little time, but building a solid credit foundation will be one of the best things you will ever do.
Firstly, your debit card linked to your bank account in no way affects your credit report, so let's cut that out of the mix.
Next, I could say everything that these articles say, but they've done all the work for me. Check out the tips on these pages for people like you starting out with no credit - they are tried and true:
http://financialplan.about.com/cs/credit...
http://www.360financialliteracy.org/Life...
Also, here are some websites to read when you have some time. They will teach you the ins and outs of credit, including your credit report and credit score. Understanding all the information is important in making wise decisions in the future!
http://www.credit.com/credit_information...
http://www.crediteducation.org/
http://www.mymoney.gov/mymoneyinfo.shtml...
The more you know, the better you'll do. :)
Good luck,
-AskYourQ
Reply:Well since you have NO credit history to get a credit card you would have to pay at least $200 for fees to get one. Ive tried applying for credit cards b/c I dont have any credit history either and get turned down I only get offered the ones where you have to pay $200 just to get one. When you get a credit card just buy what you can pay back. Be aware of APR fees. When you buy something divide the APR by 12 and times by the amount of whatever it is you buy. Thats how much you have to pay back. Make sure you pay your bills on time or your credit score will go down. Dont go overboard when you buy things with your credit card. Having bad credit history makes life hard. Remember a credit card is CREDIT not money.
Reply:First let me say that you sound like a well informed young man. Now, check with your bank to see if they offer a credit card. BofA has credit card with low credit limits. Build your financial relationship with your bank...but if your bank is small then consider moving to a National bank that has more options. Lastly, my wife and I used this site http://www.mycreditadvise.com to research and learn more about building up her credit rating.
Good Luck!
Reply:The previous person is incorrect, you do not need to pay $200 fee to open a credit card.
Soon after my 18th birthday, I applied for my first credit card and got approved. I started with the Target Store card. I also got a Sears card. (oh the power of being 18) Not too long after that I got "real cards" such as a CitiCard. One of the keys to having a good credit rating is always paying on time (I always paid off the balance completely). Currently, my credit score is in the mid-700s, which is pretty good. Also, never overdraw your bank account. Basically, just do what you are supposed to and you will gain credit. Good luck!
How long does it take to get a student loan off of your credit rating?
According to the Federal Student Aid website, it is typically 7 years before a defaulted student loan will disappear from your credit; however if it is a federally held loan, it can remain on your record forever for the sole purpose of disqualifying you from FHA and VA loans.
How long does it take to get a student loan off of your credit rating?
Why would you want it off? I would think you'd want it on there to show you are a responsible borrower.
Reply:I had a defaulted student loan.
I got the loan placed into rehab,
it took about one year to get it on track and I was able to purchase my first home at the 1.5 year mark.
call the lender THEY WANT TO HELP YOU!
Reply:10 years, unlike the usual 7 years for other forms of credit.
lilac
How long does it take to get a student loan off of your credit rating?
Why would you want it off? I would think you'd want it on there to show you are a responsible borrower.
Reply:I had a defaulted student loan.
I got the loan placed into rehab,
it took about one year to get it on track and I was able to purchase my first home at the 1.5 year mark.
call the lender THEY WANT TO HELP YOU!
Reply:10 years, unlike the usual 7 years for other forms of credit.
lilac
If I move to another country from the US will I take my credit rating with me?
or how does that work?
If I move to another country from the US will I take my credit rating with me?
You cannot take your credit with you if you move to another country. In order to open a checking account or take out a large loan you may need to find a bank that is willing to pull an international credit report. It can be done, but its costly and most banks will not do it. Most big mortgage companies will (if you ever plan on purchasing a home).
You will need to start from scratch, but that isn't always bad. You will, however, have no credit history whatsoever when you arrive in the new country.
Reply:You'll most likely have to start over from scratch. The credit bureaus in this country track you by your social security number. Other countries don't use US social security numbers. In many countries, credit is not as sophisticated as it is here.
In many countries, to open a bank account you need a letter of recommendation from your prior bank or employer. Credit is handled after building a relationship with the firm in question.
Reply:your credit rating shouldn't be affected by moving to another country. In most cases, you will be taking your US lines of credit with you anyway. Many countries follow a different monetary system, but depending on what you will doing, you can maintain you finances remotely.
Reply:i don't think you can escape it that easily
If I move to another country from the US will I take my credit rating with me?
You cannot take your credit with you if you move to another country. In order to open a checking account or take out a large loan you may need to find a bank that is willing to pull an international credit report. It can be done, but its costly and most banks will not do it. Most big mortgage companies will (if you ever plan on purchasing a home).
You will need to start from scratch, but that isn't always bad. You will, however, have no credit history whatsoever when you arrive in the new country.
Reply:You'll most likely have to start over from scratch. The credit bureaus in this country track you by your social security number. Other countries don't use US social security numbers. In many countries, credit is not as sophisticated as it is here.
In many countries, to open a bank account you need a letter of recommendation from your prior bank or employer. Credit is handled after building a relationship with the firm in question.
Reply:your credit rating shouldn't be affected by moving to another country. In most cases, you will be taking your US lines of credit with you anyway. Many countries follow a different monetary system, but depending on what you will doing, you can maintain you finances remotely.
Reply:i don't think you can escape it that easily
Sunday, March 14, 2010
Starting with a good credit rating?
Okay, I'm 19 and know next to nothing about credit ratings. I have a debit card linked to my bank account, but I've never had a real credit card of any kind. Can anyone tell me the basics, and how I would go about getting a good credit rating? I want to become a homeowner as soon as possible and I know I need a good credit rating.
Thanks in advance!(ten points to the best answer!)
Starting with a good credit rating?
GOOD for you....have son of 18 with good job and have spent a lot of time with him regarding this very matter.
I would see what type of credit card you can get with your actual bank.........you dont actually start out with good credit / or bad at the point you are at you have little to NO credit, it is now up to you to earn good credit.
So go into your normal bank and apply for a credit card, you may find that you have to put a $100.00 deposit on the account but the rates will be good and the are already ok with you as you have the account where they can see money in and out. Opinions vary a GREAT deal as to wether you pay off your balance each month or not,
IF you have acces or are able to join a credit union, open an account with them and have a % of your pay put into that each month / week and they often will give you better deals on loans / mortgages etc.
Remember you are allowed one FREE credit report each year.
I would also advise that you read some books by Suze Orman, she has a few aimed at young people JUST starting out like you. Another great source of info is Clarke Howard, he has a web site as well where he will answer questions,
And the final bit of advice I have always given my son / children is pay your self first..................each pay day put aside something for YOU..this is not for that pair of shoes you want badly it is more your rainy day money, but if you get in the habit NOW you will always have a cushion and any one looking at your accounts will see that no matter how bad things have got [or good] you have always managed to save.
I must say it is truely lovely to see someone focused and wish you luck in getting your first home, there is NOTHING like the feeling of being able to shut that door on the world knowing your hard work and effort made it possible.
Reply:you are welcome and truly good luck with it, have a step daughter that is 26 and her credit is a mess, with her just digging a bigger hole each time, have no intention of bailing her out any more :[ Report Abuse
Reply:First, a debit card does not help your credit. neither does rental history, utilities, cell phone, etc.
What you'll want to start with is 2 basic credit cards. You may have to get secured if you dont have ANY credit, or perhaps go with a store card (Like JC pennies or sears) in order to get approval.
ALWAYS STAY BELOW 50% OF YOUR LIMIT. This is key for your score. Utilization makes up to 35% of your score.
LONGEVITY. Dont open and close accounts a lot. Get only accounts you WANT and keep them open for a long time. HISTORY is SOOO important.
Revolving vs. Installment: You should have both 'loans' with fixed payments and revolving, which is credit cards Dont go all crazy, but 1-3 of each will help. IF you have very few accounts, your score wont move very quickly.
I had 3 credit cards opened when I was 18 and at 20 I was just hitting 700....so you really need those accounts to get going. :-)
Reply:You're on the right track. You need to establish some kind of credit, anything, and getting credit with no credit history is not easy, see "Building Credit From Scratch" for tips at http://finance-girl.blogspot.com/2006/09...
Once you get the credit, you want to build up to the best score possible which can be done through being punctual and responsible. For tips on raising your credit score see http://finance-girl.blogspot.com/2006/09...
Good luck
Reply:Good idea
You need to create a credit history.
Get a Visa or MasterCard (or any other), with no fees.
Use your card - but don't spend more than you can afford ! The idea is to pay back the entire balance every month.
This way, your credit score will improve.
Good luck !
Thanks in advance!(ten points to the best answer!)
Starting with a good credit rating?
GOOD for you....have son of 18 with good job and have spent a lot of time with him regarding this very matter.
I would see what type of credit card you can get with your actual bank.........you dont actually start out with good credit / or bad at the point you are at you have little to NO credit, it is now up to you to earn good credit.
So go into your normal bank and apply for a credit card, you may find that you have to put a $100.00 deposit on the account but the rates will be good and the are already ok with you as you have the account where they can see money in and out. Opinions vary a GREAT deal as to wether you pay off your balance each month or not,
IF you have acces or are able to join a credit union, open an account with them and have a % of your pay put into that each month / week and they often will give you better deals on loans / mortgages etc.
Remember you are allowed one FREE credit report each year.
I would also advise that you read some books by Suze Orman, she has a few aimed at young people JUST starting out like you. Another great source of info is Clarke Howard, he has a web site as well where he will answer questions,
And the final bit of advice I have always given my son / children is pay your self first..................each pay day put aside something for YOU..this is not for that pair of shoes you want badly it is more your rainy day money, but if you get in the habit NOW you will always have a cushion and any one looking at your accounts will see that no matter how bad things have got [or good] you have always managed to save.
I must say it is truely lovely to see someone focused and wish you luck in getting your first home, there is NOTHING like the feeling of being able to shut that door on the world knowing your hard work and effort made it possible.
Reply:you are welcome and truly good luck with it, have a step daughter that is 26 and her credit is a mess, with her just digging a bigger hole each time, have no intention of bailing her out any more :[ Report Abuse
Reply:First, a debit card does not help your credit. neither does rental history, utilities, cell phone, etc.
What you'll want to start with is 2 basic credit cards. You may have to get secured if you dont have ANY credit, or perhaps go with a store card (Like JC pennies or sears) in order to get approval.
ALWAYS STAY BELOW 50% OF YOUR LIMIT. This is key for your score. Utilization makes up to 35% of your score.
LONGEVITY. Dont open and close accounts a lot. Get only accounts you WANT and keep them open for a long time. HISTORY is SOOO important.
Revolving vs. Installment: You should have both 'loans' with fixed payments and revolving, which is credit cards Dont go all crazy, but 1-3 of each will help. IF you have very few accounts, your score wont move very quickly.
I had 3 credit cards opened when I was 18 and at 20 I was just hitting 700....so you really need those accounts to get going. :-)
Reply:You're on the right track. You need to establish some kind of credit, anything, and getting credit with no credit history is not easy, see "Building Credit From Scratch" for tips at http://finance-girl.blogspot.com/2006/09...
Once you get the credit, you want to build up to the best score possible which can be done through being punctual and responsible. For tips on raising your credit score see http://finance-girl.blogspot.com/2006/09...
Good luck
Reply:Good idea
You need to create a credit history.
Get a Visa or MasterCard (or any other), with no fees.
Use your card - but don't spend more than you can afford ! The idea is to pay back the entire balance every month.
This way, your credit score will improve.
Good luck !
How can I find out my current credit rating\score?
www.annualcreditreport.com gives you 1 report a year for free.
How can I find out my current credit rating\score?
You can get your official score from each of the 3 reporting companies. These companies have set up a 1-800 number where you can ask to recieve one over the phone.
Do not trust any free credit report sites except those officially authorized by the Federal Trade Commission which include the 3 main companies that compile your credit score (Equifax, Experian, and TransUnion). My source includes official government information regarding free credit reports and how to get one. It doesn't make sense to trust other credit reporting sites when you can get information officially from those that actually compile your credit score.
"The law allows you to order one free copy of your report from each of the nationwide consumer reporting companies every 12 months."
Reply:QUIT GIVING OUT WWW.FREECREDITREPORT.COM!!!!
I swear to God you guys must get a commission for every sucker you con over there!
That site is NOT free.
Go to www.annualcreditreport.com.
Reply:annualcreditreport.com gives your credit reports, but not your credit score, unless you pay, so it is not free.
I have a Washington Mutual (former Providian) credit card and they provide my credit score for free every month.
Reply:You guys are victims of advertising. Freecreditreport.com is owned by Experian(only one of the 3 credit bureaus) and is a ploy by them to sell you a monitoring and scoring service.
The ONLY place to get your real FICO score(the ones lenders use) is www.myfico.com. This is the consumer site by Fair Isaac %26amp; Co, the company who writes the credit scoring software. It will cost you $45.00 to get all three but if you are applying for a mortgage I believe it is worth it to know.
Equifax does sell a FICO score, but that is only good if you know the lender you are going to use pulls Equifax.
Good Luck
Reply:There are several ways to get your credit report, you can ask for your scores over the phone from credit beauraus, you can check it online and moreover you can visit a website given below.
Reply:freecreditreport.com
How can I find out my current credit rating\score?
You can get your official score from each of the 3 reporting companies. These companies have set up a 1-800 number where you can ask to recieve one over the phone.
Do not trust any free credit report sites except those officially authorized by the Federal Trade Commission which include the 3 main companies that compile your credit score (Equifax, Experian, and TransUnion). My source includes official government information regarding free credit reports and how to get one. It doesn't make sense to trust other credit reporting sites when you can get information officially from those that actually compile your credit score.
"The law allows you to order one free copy of your report from each of the nationwide consumer reporting companies every 12 months."
Reply:QUIT GIVING OUT WWW.FREECREDITREPORT.COM!!!!
I swear to God you guys must get a commission for every sucker you con over there!
That site is NOT free.
Go to www.annualcreditreport.com.
Reply:annualcreditreport.com gives your credit reports, but not your credit score, unless you pay, so it is not free.
I have a Washington Mutual (former Providian) credit card and they provide my credit score for free every month.
Reply:You guys are victims of advertising. Freecreditreport.com is owned by Experian(only one of the 3 credit bureaus) and is a ploy by them to sell you a monitoring and scoring service.
The ONLY place to get your real FICO score(the ones lenders use) is www.myfico.com. This is the consumer site by Fair Isaac %26amp; Co, the company who writes the credit scoring software. It will cost you $45.00 to get all three but if you are applying for a mortgage I believe it is worth it to know.
Equifax does sell a FICO score, but that is only good if you know the lender you are going to use pulls Equifax.
Good Luck
Reply:There are several ways to get your credit report, you can ask for your scores over the phone from credit beauraus, you can check it online and moreover you can visit a website given below.
Reply:freecreditreport.com
What are the 3 major credit rating companies and how do I reach them for credit checks?
each of these companies gives one free credit check per year per request.
What are the 3 major credit rating companies and how do I reach them for credit checks?
Experian, Equifax, and Trans-Union.
You can get your credit report from all three at no cost once each year from: https://www.annualcreditreport.com/cra/i...
Reply:I use www.myfico.com
You have to pay, but the scores, and reports are real. Watch it, because there are a lot of FAKO scores out there that are useless. There are 3 reports. Transunion, Equifax, and Experian. You can get a free report 1/year at www.annualcreditreport.com
These reports are free, but will not give a FICO score.
Reply:Each of the three major credit bureaus (agencies) have website that you can contact each through. If you are wanting to know what is included in your credit reports go to https://www.annualcreditreport.com/cra/i...
You are entitled a free copy of your credit report each year.
Reply:All of the above info is correct. Equifax just sent me an offer (I've already gotten my free reports for the year) that for $19.95 they'll send you side by side reports of the big three along with your FICO score. Here's the link and all the best to you.
https://www.econsumer.equifax.com/
What are the 3 major credit rating companies and how do I reach them for credit checks?
Experian, Equifax, and Trans-Union.
You can get your credit report from all three at no cost once each year from: https://www.annualcreditreport.com/cra/i...
Reply:I use www.myfico.com
You have to pay, but the scores, and reports are real. Watch it, because there are a lot of FAKO scores out there that are useless. There are 3 reports. Transunion, Equifax, and Experian. You can get a free report 1/year at www.annualcreditreport.com
These reports are free, but will not give a FICO score.
Reply:Each of the three major credit bureaus (agencies) have website that you can contact each through. If you are wanting to know what is included in your credit reports go to https://www.annualcreditreport.com/cra/i...
You are entitled a free copy of your credit report each year.
Reply:All of the above info is correct. Equifax just sent me an offer (I've already gotten my free reports for the year) that for $19.95 they'll send you side by side reports of the big three along with your FICO score. Here's the link and all the best to you.
https://www.econsumer.equifax.com/
What is the credit rating of 9 trillion dollars in the hole?
350-0
Edit-
Whoever gave me a thumbs down seriously can take a joke. Remember to trade your *** for your brain when you wake up.
What is the credit rating of 9 trillion dollars in the hole?
Dont forget to mention that someone that owes 9 trillion is making 2.5 trillion per year. Inflation will eat that debt so we can go into more debt.
If you get a loan on a house for 90k dollars and it pays you 25k dollars per year in income whats your credit rating. Even if your expenses are 27k per year, you know that you are going to raise the rent next year and the year after and so on.
In 1960 the debt was 260 billion and it was 45.7% of the GDP
Today its 9.5 trillion and its 37.9% of the GDP. That means we are doing better today than in 1960.
Dont be surprised in 40 years if the debt is 360 trillion.
*edit* to the person that got thumbs down. I gave you thumbs up to equal it out.
Reply:very very bad bad credit
Reply:The US government has a "AAA credit rating"
Reply:terrible!
and lol to the person who edited their post to reply to the thumbs down. i didnt know people did that :P
Edit-
Whoever gave me a thumbs down seriously can take a joke. Remember to trade your *** for your brain when you wake up.
What is the credit rating of 9 trillion dollars in the hole?
Dont forget to mention that someone that owes 9 trillion is making 2.5 trillion per year. Inflation will eat that debt so we can go into more debt.
If you get a loan on a house for 90k dollars and it pays you 25k dollars per year in income whats your credit rating. Even if your expenses are 27k per year, you know that you are going to raise the rent next year and the year after and so on.
In 1960 the debt was 260 billion and it was 45.7% of the GDP
Today its 9.5 trillion and its 37.9% of the GDP. That means we are doing better today than in 1960.
Dont be surprised in 40 years if the debt is 360 trillion.
*edit* to the person that got thumbs down. I gave you thumbs up to equal it out.
Reply:very very bad bad credit
Reply:The US government has a "AAA credit rating"
Reply:terrible!
and lol to the person who edited their post to reply to the thumbs down. i didnt know people did that :P
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