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 ...

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2
votes
1answer
187 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 ...
1
vote
0answers
67 views

Does being on the board of a bankruptcy-declaring company affect my credit rating?

If I am on the managing board of a company which declares bankruptcy, will it affect my personal credit rating? I am particularly interested in Western Australia.
2
votes
0answers
46 views

Better to get loan from finance company or bank considering the drop of credit score?

I want to know if there's a difference between getting personal loan from a finance company or a bank, considering the drop of credit score/grade (assume all other aspects are exactly the same)? I've ...
1
vote
1answer
58 views

How is Average Length of Credit determined by the Credit Agencies?

Say I get 10 credit cards in one day and hold them for 10 years. My Average Length of Credit is 10 years. Say at that point I open and close a credit card in 0.1 year. Is my Average Length of Credit ...
0
votes
1answer
52 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 ...
-1
votes
1answer
188 views

Urgent advice on used car purchase nightmare

I purchased a used vehicle almost 2 years ago and it was breaking down so i decided to turn it in. I was pre-approved through my credit union for $20,000 at 100%. My current loan is upside down by ...
3
votes
1answer
88 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 ...
2
votes
4answers
518 views

Should I pay half a large balance this month before I get my CC statement?

I have a CC with $6k limit. I normally spend between $0 and $1k on it and pay the balance in full every month. This month I have $4k on it. If I wait until I get a statement to pay it off, will the ...
1
vote
1answer
138 views

Can everybody affect your credit score?

I have been screwed over paying too much for my public transport a few times. The last 3 weeks they have auto topupped me with a disabled credit card, so now it evens out. I use a UK Blue Oyster Card ...
8
votes
1answer
146 views

Is credit score an international thing?

I have moved from the Netherlands to the United Kingdom and credit score is a big thing here, while afaik there is no such thing in the Netherlands. Will a positive or negative credit score in the ...
1
vote
0answers
43 views

What mix of credit lines and loans is optimal for my credit score?

Mint.com just told me my credit score. It says in the advice section: Try to have a good mix of credit lines open. Creditors like to see that you have both loans and credit cards. If you're low ...
0
votes
0answers
16 views

Knowing the bad credit (for loans) in Austria (KSV and similar)

In Italy there is a good service (to be payed about 30€) which access to the information owned by this databases though an easy interface. http://www.mistercredit.it/ Of course you can also have the ...
3
votes
3answers
135 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 ...
2
votes
2answers
106 views

Will not using a credit card affect my credit score?

I'm keep receiving the messages such as: We notice you aren't using your X Card. Call X for a PIN, ... Or X for a new card. So the question is, how Credit Card inactivity impacts my credit ...
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
1answer
70 views

Raising My Credit Score as a Student

I'm still a student, and I: 1) Have been lucky enough to get a scholarship through my schooling and do not have student loans. 2) I currently live in a city without the need for a car (and actually, ...
1
vote
1answer
71 views

Does your total credit limit or debt affect how much new credit you will receive?

Say a friend of mine owns 10 credit cards with a total credit limit of $100,000 with total CC debt of $10,000. Does the total credit limit affect how much new credit will be approved? Does CC debt ...
5
votes
2answers
202 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 ...
4
votes
2answers
116 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 ...
0
votes
1answer
79 views

Unpaid medical bill - Collection Notice

I do not have any debt in the past 10 years in US. I have good credit score 715+. This has been the case from the beginning. Of late, I had a minor medical emergency and my insurance paid some amount ...
8
votes
1answer
302 views

Capital One Free Credit Report - Effect on Credit Score

I have a Capital One credit card. As part of their online services, they offer free credit score requests. I recently began using that service, up to twice or thrice per month. Capital One ...
0
votes
0answers
54 views

Is there a downside to applying for several credit cards for rewards?

Qantas offers several bonuses (mostly frequent flyer points) for applying for some credit card programs and spending X amount within Y months with that card. Most of these cards have annual fees. I ...
1
vote
4answers
133 views

Will canceling one of my CapOne credit cards hurt my credit score?

I have 2 CapOne credit cards, they show up as 1 account with both their credit limits combined on my credit report. My question is; Could I cancel one of those cards and apply for a better rewards ...
4
votes
1answer
785 views

Can a company run a credit check on me without my permission?

I understand that sometimes when dealing with companies over the phone or over the counter, they need to run a credit check. I would have thought that as a courtesy they would at least tell you this ...
4
votes
4answers
155 views

22 year old with about $3300 in collections, should I pay it all at once or in payments to improve credit score?

I have got about about $3300 in collection. $1400 is from getting evicted about $400 is from a time I over drafted a checking account and the rest is medical bills. Now I also have a auto loan for ...
3
votes
1answer
316 views

Amex Backdating

Reading recently online I have discovered many people talking about Amex "Backdating". Apparently when you open a new card with American Express, they report the age of the account as the same age ...
3
votes
2answers
57 views

Equifax credit report insurance quotations

I have just ordered a credit report from equifax. The credit report shows up all healthy except for a large number of (genuine) 'insurance quotations'. These are car insurance quotations that I have ...
1
vote
0answers
64 views

How long will defect remain in credit history?

I have read this question/answer that suggests that it takes 7 years for items to clear from a credit file. Is this the same in the UK? And in the meantime, if I have late payments showing on my ...
1
vote
1answer
63 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 ...
10
votes
1answer
135 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 ...
6
votes
5answers
340 views

Why is a US credit score based on credit utilization?

As a European citizen I am somewhat puzzled by how American credit scores work. The US is one of the few, possibly the only country where such a strong focus is put on the utilization history of ...
3
votes
2answers
179 views

Does paying bills or shopping with a credit card build credit better?

Okay, so the only reason I got a credit card was to build credit; Right now I use my credit card 3 times per month to buy gas, then I pay it off as soon as the bill is due. Would it make any ...
3
votes
2answers
144 views

Does it make sense to check your credit score before applying for a first credit card?

Should someone that has never had a credit card before check his/her credit score before applying?
10
votes
2answers
340 views

Using a secured credit card to build a credit score for a new permanent resident

I am a new permanent resident in the US (originally from the Netherlands) and married to an American citizen. I am not used to the credit score system as they use it in the US, so this is all new to ...
6
votes
2answers
360 views

How do I deal with a clinic billing mistake that was sent to collections?

Recently I created a CreditKarma.com account so that I can keep and eye on my credit. Upon logging in, I noticed I have a pretty low score (not that surprising since I just opened my first credit ...
4
votes
2answers
112 views

How does a FICO score start out?

Right now I have 0 credit since I've never had a credit card before, I recently applied for a credit card and got approved so I can start building my credit. I hear that 500-600 is considered very ...
2
votes
1answer
99 views

How much will 3 hard inquiries effect my credit score?

I recently started to build credit, I applied for a CapitalOne card and got approved, about a month earlier I saw the option for Bill-me-Later on eBay, so I had checked if I was eligible, but I ...
3
votes
3answers
335 views

If I want a Credit Card offered through a different Credit Union should I slowly transition my banking to that CU?

The first bank, and subsequent credit card, I got was while in College. Its a small Credit Union that I only bank with now through Shared Branches. It works for me though and my credit score is ...
3
votes
2answers
118 views

Old Cancelled Cards

I was living abroad during the credit crisis, and a few of my credit cards were cancelled for non-use during the crunch to tighten credit. As a result, I have one older account and several newer ...
1
vote
1answer
111 views

Does using savings to pay off debt in bulk look bad on one's credit report?

I have my house deposit, which is pretty much exactly the amount of debt I am in. If I pay off all my debt in one hit, will it look bad on my credit report, or if a bank looks at it and thinks a ...
0
votes
2answers
101 views

Paying for things on credit and immediately paying them off: any help for credit rating?

So I have a big purchase that I have saved up for; I have all the money I need for it. I also have just about zero credit history; I have never had need for it. I recently got my first credit card ...
3
votes
1answer
163 views

Keeping your statement balance below ~30% of your credit limit

I read Little Advisor's article How does that thing with the credit cards work, again? According to the article, you should always keep your balance below 30% of your credit limit. However, I just ...
0
votes
1answer
105 views

How can I correct a mistake on my Credit Score?

I recently just looked at my credit score to try to figure out why I may have been rejected for a credit card. While it is not bad (between 700-725) it is not awesome either. When going through an ...
1
vote
6answers
418 views

What is the best use of “spare” money?

Here are some cliff notes about me: 30 years old immigrant (came to the US late 2009), so no established credit (got a $900 credit card with my bank finally last year) No spouse, no children. Just ...
0
votes
0answers
24 views

What loan options are there for minors? [duplicate]

I'm not yet 18, but I have been studying business for quite a while, paper trading, investments, etc. at this point, I'd like to try my hand at building some credit and making some money, but I am ...
7
votes
2answers
775 views

I am under 18 years old, in the US, my parents have terrible credit, how can I take out a loan?

I am under 18, currently shopping for a car. Like many people, I don't have enough money sitting in my bank account to purchase a good car, around $6,000 to $10,000. However, credit checks have ...
2
votes
2answers
141 views

How will my credit score be affected by a large purchase that raises my utilization if I pay it in full?

My Fiance and I realized that we need to start looking for homes and need to be pre-approved for a home loan. My fiance has better credit then I do, but mine is in good standing. We want to make ...
1
vote
1answer
283 views

Credit score getting lower - but I'm doing everything right?

My credit score has dropped considerably in the past year from ~700 - ~600. This is my first credit card so far, and have only used mainly debit in the past. Thing is, I'm not sure why it's ...
2
votes
3answers
469 views

Do lenders usually do multiple credit inquiries only a month apart?

I am in the process of applying for a home mortgage for the first time and something happened that I found a bit odd. Here's the sequence of events: Before talking to any lenders, I get my credit ...
2
votes
2answers
220 views

Any problem if I continuously spend my credit card more than normal people?

I continuously use my credit card for my friends' expenses. Normally I could spend 20~30K USD each month to get more points/cash back. I don't have large credit limits so in most time I'll put cash ...