A credit score is a weighted number computed to determine your credit worthiness, and is relevant when arranging for credit or a loan. This tag is to be used for questions related to understanding how things would impact your credit score. Related tags are credit-history, credit-rating and ...

learn more… | top users | synonyms (1)

0
votes
0answers
31 views

Advice for applying for new credit with no history to lose

I have had a credit history for all of 7 months, and so I only recently (hypothetically) got a credit score. Now I would like to add a small loan and some better sources of credit to my wallet, and ...
6
votes
2answers
939 views

Is the Amazon credit card reported to the credit agencies?

Is the Amazon Store credit card reported to the credit agencies? I'd like to know if a good payment history with this card will affect credit score or not.
0
votes
0answers
25 views

Credit rating in Germany

A multitude of questions address the issue of credit ratings and FICO scores in the US and other countries. I am however specifically asking how credit scores (SCHUFA) work in Germany. From various ...
3
votes
4answers
198 views

Achieving ideal credit card utilization above 0%

So everyone is aware of the general rule that you should keep credit card utilization below 30% of your credit limit. It's also a good idea to keep this utilization above 0%. It's very easy to stay ...
3
votes
2answers
861 views

Paying Credit Card statement amount in full on due date and using it in the same day

I have this question. I paid my Credit Card statement amount yesterday in full (which I always do), on due date. Its an online transfer. Immediately after an hour (before the transaction is even ...
0
votes
1answer
29 views

Do the credit bureaus have 14 or 30 days mortgage rate shopping window ?

I got prequalified 15 days ago. Now, I am planning to get prequalified with other lenders to compare the rates, and get a better deal with my mortgage APR rate. However, I'm worried that the credit ...
0
votes
2answers
52 views

How can I find out the credit rating of a company

I have shares in RIOCAN (REI.UN.TO) and I am wondering if it is possible to lookup the credit rating of this company? I only found this one but it seems like an old one, I cannot tell the date: ...
2
votes
2answers
96 views

Can I use prepaid cards to minimize damage of credit fraud

I'm interested in using prepaid cards as a way to minimize the damage that I might sustain if (for instance) a major retail company is hacked and my credit card information is stolen. Does the ...
4
votes
5answers
1k views

Can I preemptively pay my credit card bill before a charge is posted?

Today, I paid a $1000 bill with a credit card that has a $1500 credit limit. (Note, I have changed the numbers slightly here, but the ratios are roughly correct.) The bill has not yet been posted to ...
2
votes
2answers
105 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
74 views

How can a Canadian establish US credit score

I don't have a SSN or US address. I would like to start establishing a credit score in US. What are my options? What is the fastest way?
2
votes
2answers
98 views

Soft Inquiry vs Hard Inquiry

For the following scenarios, I was informed that there'll be a soft inquiry involved Opening a Checking account at a credit union Requesting a Credit limit increase on a Credit card Signing up for ...
0
votes
2answers
63 views

Can you dispute a negative credit reporting?

I have an above average credit rating and am very responsible with any payments that need to be made. After moving out of my last apartment, I paid all of the rent and never received another bill for ...
1
vote
1answer
77 views

Credit increase hurt loan chances?

Objectives: Continue to purchase 1-2 rental properties a year Keep enough revolving credit for large emergency's Continue to pay off credit balance each month in order to avoid interest charges. ...
0
votes
0answers
53 views

Car loan - Hard inquiry and credit score hit

I recently purchased a new car. Total outdoor price is 20K. I paid 6K and financed the rest. Before I walked into the dealership, I had a preapproved loan from the only bank I applied. It was around ...
3
votes
1answer
678 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
109 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
37 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 ...
0
votes
3answers
114 views

Soft Loan using a 0% APR credit Card

I am getting a new Student Credit Card . It has as 0% Intro APR for 18 months. The credit card company is ready to loan me money, which I can repay in 18 months at 0% APR. With this loan money I ...
10
votes
6answers
2k views

Is there a catch in applying for a credit card with the first year free, then cancelling before paying for the 2nd year?

There are a lot of cards with very tempting bonuses and rewards which include the first year annual fee waived. The thing is, I want to take advantage of the specific benefits and then bail out when ...
2
votes
3answers
80 views

How to build a U.S. credit history as a worker on a visa?

I am 30 and looking serious at moving to the United States to take a lucrative (career wise) job. Assuming I get the job offer and accept it, how can I go about getting credit in the US? I am from ...
2
votes
3answers
212 views

Differing Credit Scores [duplicate]

I have gotten into checking my credit scores recently. I have it setup to check once a month on mint, and I also check it about once a week on credit Karma. Today I noticed a discrepency. On my ...
2
votes
1answer
105 views

Auto Loan just to improve already excellent credit

My credit score is pretty close to 800 (around 780 IIRC). I'd like to do what I can to push it over the line. Loan diversity looks to be the best option. I'll be buying a car soon, and could pay ...
0
votes
0answers
22 views

How to troubleshoot identity verification issue when requesting credit report?

I have a long credit history (slightly more than 2 years) and so far I have no success in requesting my free credit report. There is a small caveat, I am successfully able to verify my identity at one ...
3
votes
5answers
231 views

Do “Instant Approved” credit card inquires appear on credit report?

I have a very good credit score (just shy of excellent) and I wanted to purchase a fairly pricey item on Amazon. They have a couple of decent credit card offers, one with Chase that gives you $70 ...
1
vote
3answers
744 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 ...
3
votes
2answers
89 views

How can I judge loan availability?

I want to apply for home loan ( I am from India ). But I did not know If I am qualified for loan or not. Previous history is that I already have a home loan for a property through my family. That ...
0
votes
3answers
141 views

Equifax credit score discrepancy in 1 month, why?

I just went to Citi Bank's website (which gives free FICO scores from Equifax for users of some credit cards) and I realized that the score I saw there was a whopping ~50 points higher than the number ...
1
vote
1answer
60 views

Does it affect our credit score if we refinance one mortgage and apply for a new one within a short span?

We're considering moving from our current home by purchasing a new one prior to selling the old one. However, we refinanced the loan on our current home less than a full year ago (approx 9 months ...
0
votes
1answer
120 views

Defaulting on early termination charges out of a phone contract

I was wondering what the consequences are: is your credit history ruined, or merely dinged? Is the blow recoverable? Can the carrier try to get the money back in court? I assume you'll wind up ...
0
votes
5answers
209 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 ...
3
votes
2answers
107 views

Should I try to get an old late credit card payment removed?

I have a Capital One credit card that had a "$40 Maximum Delinquency of 30 days in 2011". It was paid after 30 days in 2011 and was a simple mistake from an annual auto renew charge for a website ...
2
votes
1answer
64 views

Will being added as an authorized CC user help or hurt in the short term?

I have a Fico score of 700. My spouse has a Fico score of 780. We are applying for a new home mortgage during the next couple of months. If I get added as an authorized user to one of her credit card ...
2
votes
0answers
74 views

How soon (after your first credit card statement ever) do you get a credit file/history in Canada?

How many days after your first credit card statement EVER does one get a credit report on file with one of the two Canadian bureaus? I'm trying to develop Canadian credit on my first credit card and I ...
3
votes
5answers
275 views

How to increase my credit score

I have a bank account in UK since 9 months ago, and just have a debit card, didn't buy anything with credit before. I have a pay monthly mobile sim card, Today I went to buy a new mobile with pay ...
1
vote
1answer
79 views

Paying off debts

My debt got sold off to a 3rd party. Do I get in contact with the original lender to pay the debt off? The other debts were with an ISP I once used. But think it has been classed as default. Found ...
3
votes
1answer
107 views

Should I update my address tied to an old bank account if I'm planning to move again in a couple of months?

I have just realised an old bank account of mine (overdrawn, making irregular payments to counter the interest while I focus on higher priority debts) still has my old address. It's been three years ...
1
vote
1answer
103 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 ...
5
votes
7answers
1k views

Value of credit score if you never plan to borrow again?

What is the value of a good credit score if the person is so financially independent (AKA wealthy) to the extent of not ever needing to borrow money again in the form of a mortgage, car loan or credit ...
0
votes
1answer
97 views

When is credit card utilization calculated?

I'm confused on how and when credit card utilization is calculated for one's credit score. Is the credit card utilization percentage calculated based on the maximum balance you had in a given month? ...
1
vote
1answer
326 views

What impact does trading in a car have on your credit score?

The situation: The term length of your auto financing is 36 months. You decide to trade your vehicle in after 12 months of ownership. You trade in your current vehicle and take out another loan for a ...
6
votes
1answer
290 views

Shopping around for loans without detrimentally effecting credit rating/chance of getting said loan?

I've found myself stuck in a quandary. I put a deposit down on a car and I'm trying to obtain a personal loan based on this. The problem is that I'm finding that despite passing all initial checks ...
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 ...
0
votes
1answer
90 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 ...
4
votes
6answers
494 views

Pay for a cheap car or take out a loan?

I have $2,000 in total in my savings account for a car but I am starting a better paying job in three months and I will need a car to get to it. At the moment, I am biking to my current job. I am just ...
1
vote
1answer
56 views

HAMP enrollment and side effects

I am in the process of getting enrolled in the Home Affordable Modification Program through my bank to lower my mortgage payment, which is high because I got my house back in 2007 and haven't ...
2
votes
3answers
168 views

Does APR also depends on credit score?

I know that a good credit score means access to higher credit limits, but how the APR is affected? While I always pay off the whole balance on my credit card, but I am interested in lower APR, because ...
4
votes
2answers
131 views

Building credit history as a young foreigner

I moved to the US for college, and have decided to stay in the Bay Area. As soon as I found my first internship, I applied for a credit card. Currently, I have 3 credit cards, and the oldest card is ...
0
votes
2answers
415 views

FICO score provided by discover card legit?

Recently Discover Card has started putting a FICO score on my statements. I was wondering how accurate this score is. Is it an approximation or accurate? What would be other ways (free/paid) to ...
3
votes
1answer
131 views

Is it safe to use credit Karma?

Is that safe to share my credit information with credit Karma, to have my credit score? How they use this information?