for questions that relate to all forms of credit.
7
votes
2answers
140 views
No Late Fee Credit Cards - What is the gotcha?
For weeks now I've been seeing ads for the Citi Simplicity card and Discover IT Card all over (be it on the NYC subways, TV, magazines, etc.) which boast a couple of features but I'm very curious ...
3
votes
3answers
53 views
Does a cash advance hurt your credit or (official) reputation in any way?
Does a cash advance hurt your credit or (official) reputation in any way? Does it appear in records at all, and would it be frowned upon if it did? What if the cash advance were taken at a casino?
...
1
vote
3answers
79 views
Building Credit with Credit Card
I recently got my first credit card (although I have had a debit card for a long time). It has a $1200 limit. In order to maximize my credit building, which of the following is the best method (or, ...
3
votes
2answers
124 views
Getting my first Credit Card
What should I look for when getting a credit card?
My background:
Small IT Business(just me)
College Kid
Currently just have a Debit Card with a Credit Union. (should I go with a bank?)
What I ...
2
votes
1answer
46 views
How to pay comingled personal and business credit card charges for small corporation
If I used my personal credit card for a business expense, may I pay that portion of the credit card bill with a business account check?
1
vote
1answer
41 views
Can a foreigner filing US taxes as resident claim Lifetime Learning credit?
Since I am married to a US citizen, I can make an election to file my taxes as a resident.
Both me and my wife are graduate students and have been paying tuitions for 2012.
If we file MFJ, can both ...
7
votes
2answers
187 views
How long after new employment before applying for a new credit card?
I am a recent grad and new employee. I currently only have a $500 student Visa credit card with my current bank branch (2 years).
I began my employment at the end of January (just over 2 months ago) ...
13
votes
4answers
207 views
How can a person with bad credit climb out of it?
My ex-wife has always had issues managing money (mostly spending out of control and endless get rich quick scams) - which is partially why we divorced. As a result, she's had home foreclosure, ...
6
votes
2answers
228 views
Sign up for credit card only for rewards and benefits, then cut it up - pros? cons?
First off, I know red flags go up when credit cards are mentioned, so as a disclaimer, I am responsible with credit, prompt with payments, and I have a good solid credit score (says credit.com today).
...
1
vote
1answer
75 views
How can I get approved for a store credit card?
How is a person supposed to get approved for a store credit card if they have insufficient credit history?
I just received a secured Visa card, but am wondering how long it will take to establish a ...
4
votes
2answers
390 views
How can I build up my credit history when I have nearly none
I am trying to build up my credit, but I'm not sure how to. Currently, I only have 2 minor things on my report. Both are not necessary good. I owe $75 to a company(which I plan on paying now that I ...
6
votes
2answers
140 views
How is your credit score related to credit utilization?
A few questions:
Is it better to use your card and pay off the bill completely every month? [I prefer building the credit score over paying interest]
How is credit utiltization calculated? Is it ...
1
vote
3answers
75 views
Credit Card Approval
Is there a formula banks and other creditors use for new credit card approval? Other than credit score of course. For example for a business credit card I imagine it would be something considering ...
6
votes
2answers
481 views
How do I fix my credit score when I have bad things in my credit history?
I am trying to improve my credit score and have been looking for companies to take charge of this effort. But I found them to all be shady at best so I have taken the task upon myself.
I have not yet ...
8
votes
2answers
194 views
Do margins on a brokerage account affect your credit score?
If you have the ability to trade on margin, will this improve your credit history/score? If you refuse to pay the margin and lack the funds to pay for the money borrowed, I understand that it can ...
11
votes
3answers
643 views
How can banks afford to offer credit card rewards?
I understand Visa and MasterCard make money on transaction fees, but how much (if any) of those fees do banks see? Do banks make money on people who pay their bills on time, or are reward programs ...
-6
votes
1answer
70 views
Meaning of “credit”
From Wikipedia - Credit (Finance):
Credit is the trust which allows one party to provide resources to
another party where that second party does not reimburse the first
party immediately ...
4
votes
6answers
449 views
Is NO credit history the same as BAD credit history?
I found the following article which said
If you don’t use a card at all, you have no credit history. That’s
almost the same as bad credit history.
1) Do they mean the same?
2) If YES, why?
...
2
votes
2answers
74 views
Short-Term Credit for College Payments
I'm in somewhat of an odd situation w.r.t. my college tuition payments. My school bills me half of the annual tuition amount before every semester. However, my college funds are in an annunity that ...
13
votes
3answers
337 views
When applying for some jobs, why do they check your credit?
Why is it that some jobs check your credit score? Is this normal? Is it even legal?
5
votes
3answers
694 views
Is it a good idea to ask for a credit limit increase on a new credit card?
I just opened a credit card like a month ago. I have another credit card that I've been using for about a year now. But I was wondering if it is a bad idea that I raise credit on the new credit card ...
4
votes
2answers
167 views
How would a collection against me affect my credit
I went to a new city two weeks ago and rented a 2011 Civic in the meantime. On the last week of the rental, someone hit my car in the front bumper in a parking lot.
The damage was a 2 by 3 inch dent ...
18
votes
8answers
700 views
Optimal way to use a credit card to build better credit?
I have a credit card with a $700 limit and I am curious how to optimize credit gain with it. Right now, I use it once a month (usually on something small like a drink from a convenience store or ...
8
votes
2answers
211 views
Can I do something so $36 doesn't trash my credit?
I had a credit card that I rarely used a year ago. I don't remember exactly what circumstance came up to where I used it one day, but I did, to buy something for $36.
Most of my bills are set to ...
3
votes
1answer
2k views
What are some good options for getting a short-term personal loan?
What good short-term personal loan options are there, for someone who will soon have ability to pay them off? (I'm looking for names of institutions, like "X lending company", Wells Fargo, etc.)
I'm ...
6
votes
3answers
562 views
What does high credit utilization really mean?
I've heard and read that high utilization of credit hurts, but what does that mean exactly? Does that mean high utilization month-to-month, or simply high utilization at all, even when paid off in ...
4
votes
3answers
2k views
Does paying off loans increase or decrease your credit score?
It's a pretty simple question, but I've read a lot of conflicting information on this. From my basic understanding of credit, I know that it's good to have lots of long-standing accounts. That's why ...
1
vote
1answer
99 views
Why can I refinance my recent car loan at a lower rate than I had received originally?
I just purchased a new car a month ago at 3.2% APR. This was the best rate I could get at the time.
I currently have an offer from a bank to refinance at 2.25% APR. For a $25k auto loan, this ...
0
votes
1answer
67 views
Changing credit address to apartment address [duplicate]
Possible Duplicate:
What kind of an impact does moving have on your credit (score)?
I recently moved out of my parents house into an apartment in the city, and I've noticed it's way easier ...
0
votes
1answer
155 views
Online transaction - Money taken out late
I recently made a transaction online using my UK current account Debit Card (maestro). Essentially I deposited money into my online account, which can the be used to play games.
The website informed ...
6
votes
6answers
678 views
Is it better to buy a computer on my credit card, or on credit from the computer store?
I am interested on buying a computer (approximate cost USD 600).
I can pay for it either with my credit card, or apply for credit in the computer store.
What are the advantages of using one form ...
3
votes
1answer
98 views
Can I attach my Canadian credit profile to my American credit profile?
I'm a dual citizen of the United States and Canada. I have a social insurance number (Canada) and social security number (US). I have a great credit profile attached to the SIN, but no credit profile ...
1
vote
1answer
67 views
contact information for Experian fraud
Someone managed to get my credit card # and ordered a credit card report from Experian. I've called the credit card company + have a new card with a different number on the way, but I need to talk to ...
2
votes
1answer
195 views
My credit score went through the roof. Why?
3 months ago, my credit score took a massive dip. The consensus was that this happened because I no longer had any credit cards and thus no revolving debt.
So I went out and got myself a new ...
10
votes
4answers
371 views
Did my salesman damage my credit? What can I do?
I am in the process of purchasing a new truck. A few months ago I put a $500 security deposit down on a truck. I was told that the truck was at a neighboring dealership and that it would take 2-5 days ...
5
votes
1answer
109 views
Will “rate shopping” affect my credit score?
I'm thinking of buying a car but I have a low credit score (649). I have a bank account that I've been using for the past five years so I thought I would apply at that bank first, get a quote and then ...
9
votes
3answers
263 views
Payment Dispute, Is it worth it?
3 years ago I cancelled my T-Mobile account. I was charged a $250 cancellation fee, plus the amount due at the time, totaling $376.53. Recently I was contacted by a creditor saying I owed T-Mobile ...
0
votes
1answer
114 views
The meaning of “annual salary”
Let's say you're having a three-month job every year, and during those three months, your annual salary is $12*. (i.e. It's not an hourly job, but a full-time job -- you earn $3 during those three ...
4
votes
2answers
101 views
Should I refinance my mortgage now if I'm planning on taking another one soon?
I'm considering refinancing my current mortgage, which would probably lower my payments by ~$100/month. However, I'm also planning on buying a second house in the next few months, which means I'll be ...
3
votes
2answers
111 views
Ask for credit decrease
My wife and I are having problems budgeting with our credit cards. We are trying to use our debit card, but while we can focus for a short period we have problems getting the discipline to keep the ...
2
votes
4answers
588 views
Should I pay off my car loan within first year or wait until at least one year has passed?
I have the capability of paying off my car loan of around $15,000 by end of June next year, however this loan started this month.
I have heard loans/accounts kept open for more than a year are on ...
4
votes
3answers
700 views
If something is coming into my account will it be debit or credit in my account?
I have made a small balance sheet on google docs for my monthly expenses and income. If something comes into my account, would that be a credit or a debit in my account? If I got 500 from somewhere, ...
0
votes
1answer
31 views
F-1 alien on OPT in the US transitioning into H1-B; do I have a road to credit?
I came to the United States on an F-1 Student Visa, and despite trying here and there, I haven't been approved for any credit in America.
I have a fairly sizeable amount of credit under my name (and ...
4
votes
3answers
127 views
Average Mortgage Rate vs What I would get
So average mortgage rates are lower and lower. I.e. X-year mortgage rates are 4%.
Lets assume I have a greater than average credit score and credit history, greater than average net worth, greater ...
1
vote
3answers
101 views
Is having a job almost mandatory for getting unsecured credit cards or line of credit?
I noticed that all applications for unsecured credit cards ask for your income details as well as any recurring payments like rent or alimony etc that you pay.
This does not seem, to me, to be a very ...
6
votes
4answers
239 views
I keep getting denied for high utilization
The last 2-3 years, I have been using a student credit card, and have not had a job. I am a student, and I do freelance work. Before college, my mother gave me a credit card underneath her account to ...
10
votes
2answers
298 views
Can a company have a credit rating better than that of the country where it is located?
Inspired by this question.
In one personal finance book I read that if a company is located in a country with credit rating X it can't have credit rating better (lower - i.e. further from AAA level) ...
6
votes
5answers
307 views
Why so much noise about USA's credit rating being lowered?
S&P lowered USA's credit rating from AAA (cool) to AA+ (a bit less cool). Suddenly, I hear about it everywhere: shares prices are down, oil prices change, news digests say "the new financial ...
8
votes
4answers
186 views
I want to buy a house in a few years, what should I do now to improve my bad credit?
I have bad credit, score is in the mid 500s, and I have been paying off old debt accounts. There are still a few left to pay, but what I want to know is what will raise my credit score, how much can ...
7
votes
3answers
134 views
What type of credit or loan to get for job relocation?
I have never had a credit card. The only loans I've had have been student and car loans. Both of those I always paid on time; both are paid off.
I have accepted a job offer and am now looking to ...
