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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3
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1answer
92 views

If I take out a cash advance, how exactly do I get charged and does it hurt my credit?

I'm in a situation where I need $2500 (USD) in cash (for a money order/cashier's cheque). I'm considering taking out a cash advance on my new US credit card. My credit card agreement says the "APR" ...
1
vote
0answers
34 views

Default on credit report

I was wondering if anyone could help me with a situation that is giving me a lot of trouble at the minute? Back in 2011, I took a credit card with Vanquis Bank. Being young and silly, I didn't really ...
4
votes
1answer
115 views

Will moving my debt from one credit card to another affect my credit score?

I have a card that is 50% used with 7% interest. The max credit limit on the card is $10,000, and I used $5000. I have another card that is $14,000 and I have $2900 used, but the interest is 14.9%. I ...
2
votes
2answers
96 views

Credit score dropped because my balance decreased

I paid $25 on one card, which decreased the balance to $0. I immediately lost 13 points on my Equifax report from paying this $25 balance according to MyFICO. Why? I use the card regularly, but I ...
0
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0answers
84 views

How Often Should I Chase a Credit Card Signup Bonus?

I put as much of my spending on credit cards as I can, to collect the cashback rewards. I see a lot of credit card offers that have a signup bonus--I've taken advantage of several of these offers in ...
0
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2answers
62 views

What is a good plan for checking credit score/report monthly?

I would like to monitor my credit score/report on a monthly basis (to make sure nobody is opening credit cards in my name or other fraudulent activities). I remember hearing that too many requests ...
2
votes
2answers
68 views

Are auto loan monthly payments a fixed amount or a percentage of the principle remaining?

Are auto loan monthly payments a fixed amount or a percentage of the principle remaining? That is on a 20k loan at 2% interest for 60mo, can I pay off 19,900 of it (the first month) and still make a ...
1
vote
1answer
66 views

How many new addresses are “bad” on a credit report

I've heard that moving around a lot and changing addresses broadcasts instability on credit reports, and anecdotally, on credit scores too. Can anyone quantify this for me, thanks. ie. How much is ...
3
votes
2answers
161 views

Can someone intentionally hurt your credit score?

I know that if someone does a "hard" view of your credit score, it will lower by a bit. So what is stopping a malicious person/organization from illegally viewing your score a thousand times just to ...
1
vote
0answers
33 views

Preserving DTI ratio between mortgage pre-approval and closing

I am in the process of buying a house in the US. I have had an offer accepted and have pre-approval from a lender for a conventional/conforming loan at the maximum debt to income (DTI) that they are ...
0
votes
1answer
55 views

A credit report is a soft inquiry. Is a “credit score report” a hard inquiry?

On Experian's website (and, I imagine, the other two bureau sites) we have the option to obtain a credit report and a credit score report. The credit report is the report that we can get through ...
1
vote
1answer
62 views

How can certain credit card payment patterns affect my credit score?

My bank allows me to pay off any portion of balance at any time, even if I have not received my statement for those purchases yet. I'm wondering if the frequency, amount, or way that I pay off my ...
0
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0answers
76 views

How can I significantly increase my credit score using cash?

I would like to improve my credit score^ by throwing money at it rather than by waiting several more years for a ding to disappear from it. I've read several good questions and answers here about ...
51
votes
11answers
7k views

Should I open a credit card when I turn 18 just to start a credit score?

I spend about $20-30 a week on my debit card, with periodic $200-300 purchases every few months. I've thought about getting a credit card the moment I turn 18 and using it to buy everything, then ...
0
votes
0answers
49 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
1k 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
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0answers
42 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
272 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
1k 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
39 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
71 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
3answers
157 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
2k 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 ...
3
votes
2answers
244 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
115 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
126 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
77 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
83 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
138 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
760 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
133 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
40 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
130 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
115 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
228 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
109 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
25 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
357 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
4k 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
93 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
200 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
62 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
130 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
259 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
121 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
77 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
89 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
295 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
85 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 ...