Tagged Questions
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?
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) ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
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 ...
4
votes
6answers
1k views
Is it better to spread debt out on multiple credit cards or consolidate it to just a few?
Is it better to spread out my credit card debt so that each of my cards is at around 30% of my limit or is it better to consolidate it all to just one or two cards even if these end up being at close ...
5
votes
4answers
237 views
Can I cancel a credit card without negatively affecting my credit?
Some background: I have no debt, have never carried a balance on the card, and have never used more than 10-15% of the credit limit per month. I'd much prefer to pay with debit/cash, but I got the ...
8
votes
4answers
154 views
What effect will credit card churning for frequent flyer miles have on my credit score?
We've all heard about the people who have tons of credit cards - getting new ones for the sign-up bonus (25 to 50 thousand miles, typically), either never using them or charging minimal amounts and ...
12
votes
11answers
2k views
Should I pay off the credit cards now or do the monthly payments thing?
I have 3 credit cards with a total balance of about $36k. Two of the cards are at 2% and the last one is at 0%. With the current payment structure, I'll be debt free in 25 months.
I recently came ...
3
votes
2answers
203 views
Calculating the most optimal way to pay off credit cards
I have 3 credit cards which I am slowly paying them off.
Card# Balance Monthly Interest Months to pay of Minimum
Payment at current rate Payment
1 ...
5
votes
2answers
169 views
Personal financial implications of joining or not joining a class action lawsuit
I received a very random piece of mail inviting me to join the "Settlement Class" for a class action suit again the now defunct (and part of BOA) MBNA bank due to bad practices involving raising ...
5
votes
4answers
956 views
Why activate credit cards? What is the purpose of credit card activation?
A number of credit card companies - almost all of them - ask to "activate" credit cards when sent to me. Usually it involves calling the phone on the sticker and typing in whole or partial card ...
5
votes
7answers
11k views
Should I pay off my credit card online immediately or wait for the bill?
I'm a college student and I just got my first credit card (through Chase). The only reason I got the card is to try and build my credit score. I also have a checking account with Chase, and they let ...
6
votes
3answers
181 views
Are there advantages to getting a “secured” credit card, if you have poor credit?
I've heard about "secured" credit cards - where you basically pre-pay the amount of your "credit card" limit - surely your use of this type of card is evident on your credit report, and the advantage ...
4
votes
3answers
125 views
How old must you be to apply for a bank credit card, store credit, or cash advance loan?
I am the parent to one child and one young teen, and I don't want either of them to be able to apply for credit (and potentially soil their credit ratings) before they are mature enough to take on ...
