for questions that relate to all forms of credit.

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0
votes
1answer
72 views

Taking a small loan to improve Credit Score

Younger me made some horrible financial mistakes. Now as the idea of a house loan is not a far distance fantasy anymore, I think about how to improve the score. I already read several sources to ...
0
votes
2answers
84 views

Can reducing credit card utilization quickly improve credit score?

I have one credit card. It is currently at 31% utilization. I have no debts or loans. I want to apply for a home loan soon, and via Credit Karma, this is the only bad spot on my credit score. If I ...
0
votes
1answer
82 views

What does it mean if a soft credit check is done on me, and nothing shows up?

I have no credit yet. My friends and I are renting an apartment, and it was a pain to find a guarantor. Now, we have to set up the utilities. I called the electric service company, and the customer ...
1
vote
4answers
403 views

Got charged ridiculous amount for doctor's walk in visit. What are my options?

I went to a local doctor's office that takes walk ins. The visit was normal, they took my vitals, doctor saw me, and prescribed some meds. A few weeks later I got a bill in the mail for $400. ...
3
votes
2answers
92 views

What should I look for in a credit building card?

About a year ago I asked if I should open a credit card just to start a credit score once I turn 18. I turned 18 a few months ago and will qualify to open a card under the Credit CARD act of 2009 (I ...
4
votes
2answers
53 views

Can my spouse apply for an ITIN, even though he is a non-resident alien who does not pay US taxes?

My spouse does not live, work or earn money in the USA, so he doesn't pay US taxes. (I file as "married, filing separately.") But I want him to be able to apply for US credit cards. He can't get an ...
1
vote
2answers
474 views

I bought a new car for a month and wanted to return it

Here is my story. I bought a car about six weeks ago on march. I realized that I was actually paying a lot more than the price in the car advertisement. I bought a Honda Odyssey 2016 that is supposed ...
0
votes
1answer
68 views

Holding Multiple Credit Cards. Does the credit limits add up and work together? [duplicate]

So lets say I have the following credit cards with the following limits: $1,500 $8,500 $9,000 If they all sat at 0 usage, and I was to charge one of them at say $3000 and let that sit on 0% APR ...
25
votes
7answers
12k views

Making a big purchase over $2500. I have the money to cover it. Should I get a loan or just place it on credit?

I am planning to make a big purchase. I have the money in savings to cover it, but I don't want to drop $2500 all at once if I can avoid it. I have a credit card with a $9000 limit, but I know that ...
0
votes
0answers
44 views

Does the IRS report Loan Repayments to the credit bureaus?

Having lived abroad for 15 years, I've returned to the US almost 1 year ago and am preparing to buy a house via a mortgage. Naturally, I'd like to get favorable rates. I face a couple of challenges ...
1
vote
0answers
29 views

How to pass the following entry to journal? [closed]

The following entry has been confusing me regarding how to write it in the journal: "Owner purchased goods worth $99 on credit." I have understood the following about above transection: Since ...
0
votes
0answers
19 views

Can an authorized user of a credit card build their credits from using the card [duplicate]

I have a few years' credit history, and most of the time a FICO score of 780 to 820. I believe my spouse never had any credit accounts. If I add her as an authorized user of one of my credit cards, ...
0
votes
1answer
108 views

Using credit card near the closing date

Say my closing date is on April 28. and I currently have $0 balance. Is it ok to use the credit to buy something around today (April 24)? Or should I keep my $0 balance until the next closing date and ...
1
vote
1answer
143 views

Canceling a heavily used Credit Card to pick up a new one

I've heard people say if you cancel a credit card it hurts your credit score... not sure how true that is. Anyway... I have a credit card with a $8500 limit that I push a good $2000+ through a month ...
1
vote
0answers
45 views

Guidelines on when to buy or rent an apartment (in Europe)

I am currently facing an important decision for my life: I finished studies and will soon enter industry to work. Due to the fact that I will likely earn some money on a regular basis, I want to ...
10
votes
2answers
204 views

Co-signer deceased

2 years ago an elderly woman that I helped take care of and I worked for her co-signed for me and my fiance to get a 4 wheeler. We have never missed a payment and Honda will say that we have perfect ...
6
votes
2answers
102 views

What does basis point mean?

S&P's schedule of costs mention that getting a rating from them currently costs "6.25 basis points" of the offering. Does this literally mean 6.25%? As in if the bond produced was 100 million in ...
0
votes
2answers
183 views

I owe a small amount on a credit card. Is it better for my credit rating to pay it off right away or to make monthly payments?

On one of my cards (one that I don't really use), I have a balance of $70. If I do nothing, it will pay itself off over the next few months. (It's set to automatically make the minimum payment on ...
1
vote
1answer
76 views

If I pay my credit card bill before the company reports it, will they always report zero? [duplicate]

If I spend 20 and pay back that 20 instantly after using it, will the credit card company state that I spent 20 and paid 20 back (to the bureaus), if I paid that amount before they reported it? ...
4
votes
2answers
139 views

If I pay my credit card balance immediately, will my credit score still go up fast?

I heard that it's good to have a balance because then the bureaus report that balance -- if you pay it off before they report it, they report zero. Since you want the bureaus to know that you use ...
0
votes
2answers
89 views

Credit score and paying my balance before the closing date?

If I pay my balance before the closing date, my balance goes to zero and that is what is reported to the bureaus. Given so, would that hardly affect credit? I want my credit to go up as fast as ...
0
votes
2answers
156 views

Ex Spouse selling home to me for less

Can my ex-spouse sell his home to me for much less than market value? Say it's value is $500,000, but he sells to me for $350,000. Will a bank lend the 80% on this? Nothing wrong with the house. I was ...
1
vote
0answers
51 views

Establishing $10K line of personal credit with minimal interest from zero credit score

I am a fresh expat from the UK, having recently moved to California. Working as a Sole proprietor, I'm providing software contract services across San Francisco. This business has significantly ...
2
votes
0answers
45 views

At what point does applying for more credit cause your score to rise faster than if you do not?

They say that the number (and diversity) of accounts tends have a positive impact on your credit score. However, to acquire such accounts, one must suffer hard inquiries against your report. ...
6
votes
2answers
249 views

Will I ever lose money if I always pay the credit card bill on time?

One last thing I am pondering before getting a secured credit card. Your due date is at least 25 days after the close of each billing cycle. We will not charge you interest on new purchases, ...
1
vote
3answers
203 views

What does APR mean I'm paying?

I've read every article and post on the internet and I'm still confused. I'm getting a credit card with a 19.9% APR with no annual or monthly fees. I read that APR is the annual rate for borrowing. ...
3
votes
1answer
68 views

Error in my car loan papers, what do I do?

In Dec 2014 I turned in a financed car that I had where my mom was the Primary Owner and I was the cosigner and I purchased a new car only under my name and credit, my mother wasn't present and she ...
4
votes
5answers
207 views

Do I need to use all of my credit cards, especially the oldest, every month to build credit?

I understand that it's important to keep my longest line of credit open, which is about 5 years. However, I really don't like using that credit card for logistical reasons (out of state bank, etc.) I ...
3
votes
1answer
88 views

When my credit card is charged, what information does the business recieve?

Say I purchase an item from an online retailer. I give them my credit card, address, cvc code, etc. When the retailer attempts to charge my card, what information will my bank (or ...
0
votes
2answers
89 views

If I paid my credit card but it didnt post to my bank, will future payments go on this bill or my next bill?

I got a secured credit card like 2 weeks ago. I didn't know how the billing cycle worked so I paid the 20 dollar balance yesterday. The payment is still pending and hasn't shown up on my bank account ...
1
vote
2answers
63 views

Young adult's first credit card - what to look for and what to avoid [duplicate]

What should a young adult - with no credit history, moving out of the parent's home, and not going to college - look for in their first credit card? I mean for comparing various credit card programs ...
3
votes
2answers
48 views

Removing unused credit card from CIBIL credit report

I used to hold an ABN Amro(Now RBS) co-branded credit card back in 2008. After using it for a period, I realized that the card was no good for my needs. I called up the customer care and asked for the ...
3
votes
0answers
66 views

Are credit card compnies required to send income info to Feds? [duplicate]

I requested a credit line increase with BOFA. I am self-employed, and they asked for my expected income. I got the credit line increase, and the rep said he was required to send the income information ...
1
vote
1answer
77 views

How do credit card companies make money from cardholders who do not carry a balance? [duplicate]

How do credit card companies make money from cardholders who do not carry a balance? It seems credit card companies are eager to offer their services to borrowers even if they have a tendency to pay ...
5
votes
3answers
252 views

Have plenty of cash flow but bad credit

I had financial issues back in 06-08 (when the nation in general also did). I had debt I couldn't pay, and I had to sell our house short. I since then have not purchased anything I couldn't pay cash ...
1
vote
2answers
59 views

Does closing accounts lower one's credit score?

Does closing accounts lower or increase one's credit score, or does it depend?
1
vote
0answers
117 views

Bank in another state asking family member questions about me upon opening a line of credit

Today my aunt let me know that she tried to open a line of credit with a credit union she uses in the state she lives in (a different state than I live in). She told me my name came up and they ...
4
votes
2answers
222 views

Is there any downside to opening credit card accounts and then leaving them inactive?

I currently have a single credit card. I don't really use it at all, maybe $50-500/month on it which I pay off. In checking my credit score, which is already near 800, I got a pretty good ding for ...
1
vote
1answer
104 views

Is any credit reporting agency less likely to remove a disputed item than the others?

Between TransUnion, Equifax and Experian: is any agency more anti-deletion than the other agencies? I have two items to dispute: one I can prove is incorrect and the other an unpaid credit card that ...
3
votes
2answers
69 views

Is having “credit” needed for a young adult's prospects?

I barely know anything about what credit is or why it is good to have "good crdit". All I know is that one needed a credit card to have a credit history, and I assume obeying the rules of the card ...
3
votes
4answers
155 views

What is the preferred way to set up personal finances?

I'm trying to figure out how to set up a personal finance system that is simple. I want to know things like: How many bank accounts should I have and what kinds, and how much (percentage-wise) of my ...
5
votes
2answers
51 views

Abroad good credit as minor supplement for U.S.-based credit bureaus and their algorithms?

So I have good credit in the U.S. But I have impeccable credit in Singapore where I lived for past four years. Is there any chance I could convince one of the credit bureaus in the U.S. to consider ...
0
votes
1answer
72 views

Credit card for low CIBIL Score? [closed]

I have CIBIL score of 628. I want to improve it using credit card. I applied in one bank but they declined it. Is any bank provide credit card for this score in India?
0
votes
0answers
62 views

Optimal Credit Card Utilization? [duplicate]

I was wondering what percentage of credit card utilization is optimal to improve credit? Currently I have a "good" credit rating, but there is always room to improve.
0
votes
1answer
934 views

Personal Loan without CIBIL check? [closed]

I have Low CIBIL score. Its take another 1 year for me to improve CIBIL score. But now I have to apply for a loan Rs.100000. I am salaried employee in private sector. And my CIBIL score is 628. Is ...
1
vote
1answer
99 views

Demat & Trading account will reduce Cibil score?

I have opened Trading Demat Account before 2 years. But i used only 2 months. Will it reduce cibil score?
6
votes
2answers
241 views

Will paying off an old $8 collection hurt my credit?

Let me explain a little more. I was the victim of a car accident and medical bills went through the roof. I had about $16k racked up, then my settlement finally kicked in 3 years later and paid it all ...
1
vote
1answer
260 views

Can you pay off lease early?

If I pay off lease amount early for a car, is there any impact on my credit? Let's say I'm paying $400/month for 36 months, which is 14,400 total. If I pay 14,400 within 6 months, are there any ...
1
vote
1answer
70 views

Maximizing credit benefit of paying off my partner's student loans

My partner has approximately 8,000$ of student debt which we'd like to pay off. I have poor credit (or rather, no credit) and we have figured that paying it off "on my credit" would benefit both of ...
3
votes
1answer
301 views

Are “credit freezes” possible in Canada?

It seems to be generally-accepted that "freezing credit" is preferred to credit monitoring. Freezing your credit seems simple: Freezing your credit is as simple as contacting each of the credit ...