for questions that relate to all forms of credit.

learn more… | top users | synonyms

4
votes
2answers
126 views

How do I get myself out this disastrous situation

I put a car in my name and my fiancé was the co-signer for a lease because his credit wasn't good. Now we aren't together and he stopped paying and everything is on me. I also leased a new truck from ...
2
votes
2answers
60 views

Credit Limit Increase without asking = credit inquiry?

If my credit card company raises my credit without my input (meaning - I did not request the credit limit increase), does it result in a hard credit inquiry?
0
votes
1answer
28 views

Home Equity Line of credit features and overview

I have a very recent mortgage. I only have about 7% of equity on the home. I've made about 5 payments so far and everything is going smoothly. Now I have a family emergency requiring me to borrow ...
3
votes
1answer
634 views

What is the full formula for calculating a FICO 9 credit score?

I'm familiar with the percentage breakdown of how a credit score is calculated. I'm wondering what is the exact formula is that can be used to come up with a point value based on specific input ...
3
votes
1answer
88 views

How to bump up my credit for buying a house in a year (open another card or not)

Here's a rough breakdown of my non detailed credit report. I want to buy a house well condo in a year. I am in the 28% tax bracket. I have 20% or more down to avoid PMI. My question is this ...
0
votes
0answers
32 views

Estimating rates on potential loans without officially applying

Is there any way to estimate the rates on a potential loan without applying? I'm thinking of some calculator that takes into account: Loan type (auto/revolving/installment/mortgage/etc) Your income ...
-4
votes
2answers
134 views

What happen if I don't pay credit card and leave the country

I have a credit card debt of $600, five years ago in Newzealand. I left the country from then, now I live in Singapore. Will the Newzealand bankers come to Singapore and ask my bank to take money ...
1
vote
3answers
228 views

What is the difference between the closing date and due date for a credit card?

I just got my first credit card ever to begin building a credit. I got the chase credit card called Freedom. I have heard so many stories of credit cards that I got a little scared and that is why ...
1
vote
2answers
165 views

How do I know what credit card to sign up?

So I'm very late to the building-up credit party (27 y/o) but I was thinking since I use Amazon a ton and will be using it even more now that I'm moving into my own appt, an Amazon Credit Card would ...
0
votes
5answers
194 views

What is the best credit card for someone with no credit history

A little background, I've never had a credit card and I'm seriously due for a credit check as I've never had one. I've applied to numerous credit cards and I've been declined every time. I hold a ...
13
votes
2answers
5k views

How can I pull a credit report on my 20-year-old son?

My wife and I would like to see a credit report on our 20-year-old son. He is a college student, and we are responsible for virtually all of his expenses. We want to ensure he doesn't have credit/debt ...
2
votes
1answer
89 views

Debt Relief Agency or cash out IRA?

Through many bad decisions on my part, a divorce, 2 kids in college and a third heading there in the fall, I am in over my head. I have been robbing Peter to pay Paul for a few months now (paying ...
0
votes
1answer
64 views

In double entry book keeping terminology, what is the term or expression for when a journal entry both debits and credits the same account?

I configure point of sale software and thus deal with my clients' accounting people. I need to know how to properly express to them this situation, when they describe it. Thank you.
1
vote
3answers
64 views

credit card payment

I applied for a Barclay apple rewards card to increase my credit line and got approved for a $2,500 limit. My apple product cost me $2,042. Is it wise to pay off the entire amount before the first ...
2
votes
1answer
300 views

Can a dealer keep my deposit (on a non-existant car) if my loan is not approved?

I am going through the process of ordering a car. It's a factory order, so it's not like it is sitting in the lot. The dealer said I had to pay a deposit of $1000, which I did. Then I applied for ...
1
vote
1answer
98 views

Applied for loans but chosen not to take them, will this look like I was refused?

So I applied for several loans to buy a car, trying to take advantage of the low interest rates at the moment. All of them came back with higher interest rates than were advertised. I've subsequently ...
0
votes
0answers
23 views

consolidate credit monitoring

I'm trying to piece together the best way to monitor my credit. I've recieved notices relating to several breaches over the past year (Home Depot and Target I believe) which entitled me to a certain ...
2
votes
1answer
170 views

How to calculate Annual Percentage Rate

How to calculate Annual Percentage Rate (APR) given the following: A - Loan borrowed at the beginning (USD 1000), B - Loan total costs paid at the end (USD 2000), c - Number of compounding periods ...
1
vote
2answers
61 views

What constitutes 'income' for credit card &c? (US specific)

I also have gotten several inquiries like this one My credit card company is asking for my current income citing "Federal Regulations" which started me wondering just what is considered ...
0
votes
1answer
82 views

To prevent credit score decreases, what are the optimal frequency and number of credit card applications in Canada?

The bolded seems anecdotal; is there any official source? http://www.moneysense.ca/debt/know-your-credit-score: While you can check your own credit as many times as you’d like, others can only ...
1
vote
1answer
240 views

Can having a co-signer on a house loan reduce the down payment required?

I have worked as a freelance web designer for 3 years before taking a salary job at a company 6 months ago. I have enough money saved up and make enough at this job to own a house but I doubt I will ...
2
votes
3answers
210 views

Looking to get my first credit card

I have no prior credit history. Does anyone know of a credit card company that doesn't require much (if any) deposit money down and has a high approval rate for first time credit card holders?
0
votes
0answers
19 views

Getting Rid of PMI [duplicate]

We bought a house for less than 20% down payment, and now we pay over $150 a month for useless PMI (private mortgage insurance). I regret having done this, but assuming that I can't change the past, ...
0
votes
4answers
111 views

Will getting a secured credit card to buy a single expensive item hurt my credit or help it?

I want to buy a single high priced item for myself before the new year and I'd like to know if getting a secured credit card for, say, $1500.00 and then maxing it out to buy this single item will help ...
6
votes
1answer
71 views

Can you report on time payments on private loan?

We have a contractual loan (one with a contract, not a handshake) from an family member who bought our student loans. We pay regularly just like any other loan and we pay a small amount of interest ...
4
votes
1answer
88 views

Is it a good idea to max out a zero interest revolving credit account?

I have a 0% interest overdraft that's currently up to a £1200 limit, but I can request an increase. Would it be a good idea to transfer up to the limit (minus what I'd float in the account to make ...
0
votes
1answer
133 views

Approved for a Credit Line of $700 BoA

I'm 18, and I recently applied for a Credit Card at Bank of America. I applied for the BankAmericacard Cash Rewards Platinum Plus Visa, I got approved for a credit line of $700, I was wondering how ...
1
vote
0answers
45 views

When to apply for a new credit card?

I am a graduate student living in US. It is now 10 month since I have had a secure credit card from Bank of America with a $300 credit line and APR 20.24%. Recently, BOA increased my credit line to ...
2
votes
1answer
63 views

Why are there different credit rates in each country?

I live in Paraguay, and here credit rates begin at 16% and go up to 50%. In Germany you can get a loan for a lot less. Why is that?
2
votes
3answers
173 views

Should I always pay my credit at the last day possible to maximize my savings interest?

I want to pay my credit fast but I'm thinking that being too early would cause me to lose on some of the interest I would otherwise have gotten on my savings account. What is the best route for me to ...
1
vote
1answer
108 views

How can I take out a personal loan as a minor with a co-signer other than my parents?

I'm currently in the process of buying a truck worth $8,000. The seller will only hold the truck for me for a week. It is a private party selling the truck (through craigslist) I currently own a ...
2
votes
1answer
154 views

Mortgage rate shopping - 14 day period

I'm currently in the 14 day period since my credit (all 3) were pulled for a Mortgage Application. A second lender pulled my credit today (still in the 14day period) and surprisingly, the new inquiry ...
2
votes
1answer
213 views

Does not having the full (good) payment history on report negatively affect me?

I've had my credit card since 2006. My credit-report reports the following: Status: Open/Never late. Date Opened: 06/2006 Reported Since: 06/2011 Date of Status: 09/2014 Last Reported: 09/2014 ...
7
votes
2answers
239 views

If I could, should I buy a car with cash instead of credit?

The most common (and realistically feasible) method of buying a car is to buy it with a loan/credit card, then pay it off in bits every time interval. However, say that I could buy a car in full when ...
0
votes
1answer
317 views

Balance transfer from Wells Fargo to Chase

I have had a Wells Fargo Credit Card for about 3 years with a limit of $3100 and a chase bank credit card since January with a limit of $3000. Wells Fargo is charging me close to 13% and chase has its ...
3
votes
1answer
129 views

What effect does a high credit line have on a mortgage?

I have received a letter from my credit card company increasing my credit line and when I spoke about this with a co-worker, they told me that I should request that the company does not increase my ...
3
votes
3answers
254 views

What is too much credit utilization on credit card?

Is credit utilization looked by card or total credit? Say I have three credit cards with the following utilizations: Card A Limit: $30000 Balance: $25000 Utilization: 83% Card B Limit: $20000 ...
18
votes
4answers
3k views

Do credit checks affect credit scores?

I've heard what I believe to be a myth surrounding credit scores being affected by companies (loan, mortgage etc.) checking your file. I used to have an experian account, and I noticed quite a few ...
2
votes
2answers
366 views

PayPal personal account: does it accept credit cards or not?

On this website it says it does not: https://www.paypal.com/cgi-bin/webscr?cmd=p/pop/choosing_account_type_signup-outside On this site it says it does: ...
5
votes
2answers
1k views

Why was my Credit Limit Increase Denied?

I applied for a credit line increase from Capital One a few weeks ago. A few days ago I got a letter indicated that the increase request was rejected. The two reasons stated were: Primary ...
2
votes
3answers
3k views

Need a loan to buy property in India. What are my options?

I have seen a property in India, and I am planning to buy it. The total cost is $105k, out of which I have $30k of my own. The remaining $75k needs to be financed somehow. I can get a loan in India, ...
4
votes
2answers
166 views

Should my credit report be empty

It seems my credit report is empty. When going to annualcreditreport.com, Experian and Equifax both give me generic errors saying my request can't be completed, and TransUnion gives me a report that ...
3
votes
1answer
62 views

Effect of having a guarentor on one's credit

As I understand it, paying rent on an apartment in the US can positively affect your credit score. But when someone has a guarantor with their lease, is their credit touched at all, or is their paying ...
12
votes
3answers
5k views

Is it bad to have multiple credit cards?

I have 4 credit cards that I use occasionally but pay off the balance every month for the most part. Recently I've been suckered into getting store credit cards (Macy's, Kohl's, etc) because they ...
2
votes
1answer
155 views

What is an Installment Rate Percentage?

I'm looking at a dataset known as German Credit Data, available here: https://archive.ics.uci.edu/ml/datasets/Statlog+(German+Credit+Data) According to the description... "the dataset classifies ...
3
votes
3answers
395 views

Can credit card be used as a debit card by making payments into credit card before even using it?

I am planning to use Halifax clarity credit card abroad when I travel to Europe. The credit card offers good rates while using abroad with no transaction charge or non sterling transaction charge ...
1
vote
1answer
87 views

Applying for a mortgage with multiple lendors in a 2 week period

I've just submitted an online application with a lender for a new home mortgage. I know that this lender pulls all of the 3 reports (EQ, EX, TU) and not FICO. Wondering if I shop around and also ...
3
votes
2answers
214 views

Received a call to collect on a 17 year old, charged off debt. What do I do?

I have received multiple calls from a finance company about an account balance on a credit card that was charged off in 1997 and then the company decided to ask me to pay for this account in 2012. I ...
11
votes
1answer
160 views

What to do about infrequent false credit judgement?

Over the last couple of years I have infrequently had a false credit judgement held against me. Over a year ago I attempted to get a Car loan through a bank and they wouldn not give me the loan due ...
12
votes
3answers
3k views

Am I using my credit card wrong?

For the last five years I've had a baby Visa card ($500 limit) that I've paid off religiously; I haven't paid a cent of interest and I plan to keep it that way. To build credit (and to get a cash ...