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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13
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5answers
4k views

Can it really hurt your credit to pay off things in collections?

I have 4 items in collections according to my credit reports - 2 medical bills totaling $1700, and unpaid traffic ticket for $200, and an old utility bill for $185. I have one credit card that I've ...
6
votes
4answers
182 views

What's a good next step in rebuilding my credit rating?

Here's a summary of my current position: Current credit rating of 600/610 (I think. I'm positive it was in the lower 600's 4 months ago) I've had a card for a year, $500 limit, no late payments, ...
8
votes
2answers
5k views

Will upgrading my credit card affect my credit history length?

Background: I recently graduated from college. I have had a student credit card (Visa) with Wells Fargo since 2008 and it is my only credit card. Obviously, I do not want the history of this card to ...
8
votes
4answers
161 views

I just applied for a credit card. Will I be able to see my credit score number with a decision?

Will I be able to see the actual credit score number the credit card company uses? Or will it just be an accept/reject letter?
6
votes
3answers
473 views

What should my credit limit be?

I have two credit cards (through the same bank). The first I got at age 18, and the 2nd I applied for while in grad school for better rewards. I use credit cards (primarily the more recent one) for ...
5
votes
2answers
140 views

Paid off oldest CC keep it open or close it?

Here is some context, I’m trying to rebuild my credit. I own a House, I’m financing a car and I have 14 credit cards, 4 of the 14 have been paid off within the past 2 months and have a $0 balance the ...
5
votes
3answers
880 views

How can I get my incompetent utility company to remove late payments on my credit report?

My FICO score dropped 100 points after my incompetent utility company posted false late payments. It had been 780 prior to the late payments. I have a legitimate case but they are so bureaucratic and ...
13
votes
8answers
4k views

What's the average credit limit?

For a number of reasons, I recently asked my credit card company for a credit limit increase. I was hoping they'd propose a new limit to me, but they instead the reverse happened: they asked how much ...
9
votes
2answers
99 views

How to approach eliminating a record in my credit history that is hurting my score

I have a record in my credit history that shows a delinquency from 4/2005 that was paid off but was also marked as a "charge off." As of January 2011, this record no longer shows up in my file for ...
3
votes
1answer
314 views

Does reopening a Chapter 7 bankruptcy to reaffirm a mortgage change the date of discharge for reporting to credit bureaus?

I am considering reopening my Bankruptcy Chapter 7 that was discharged last year for the purpose of reaffirming my mortgage for the purpose of boosting my FICO score by adding a mortgage to my mix of ...
3
votes
2answers
442 views

How badly does a collection account sent to the credit bureau hurt my credit score?

I'm a college graduate, home owner, and I have a decent credit score. I just received a letter from a collection agency claiming I owe upwards of $700 on a delinquent debt from an apartment I lived in ...
3
votes
3answers
2k views

Adding myself as a co-holder of my parent's credit card will build my credit history?

I have been in the U.S. since 2007 as a student, and only recently realized the importance of buliding my credit history. My belief is that a credit card is the way to start building a credit ...
14
votes
2answers
2k views

How will going from 75% Credit Utilization to 0% Credit Utilization affect my credit score?

I currently have a 75% credit utilization, which I know is not favorable on about 35,000 revolving credit. I am getting my year end bonus and plan on using that to completely pay off all of my credit ...
2
votes
1answer
318 views

Why is my credit score now being ranked on a scale of 501 to 990?

Over the years, I've run several credit reports on myself inching my way closer to 750 then 800 on a FICO scale. Then, using TrueCredit to analyze my report, as I always have, I suddenly notice I'm ...
4
votes
4answers
220 views

Should I accept a credit card settlement?

I have pretty awful credit rating (570 last I checked) as a result of a foreclosure and a massive amount of credit card debt. One of the credit cards (BofA) to who I owe 17k has offered a settlement ...
2
votes
3answers
4k views

Will paying off a loan early hurt my credit?

I recently purchased a vehicle and took out an Auto loan from the local credit union. I have run into some extra cash and can actually pay off the car completely. I have a very little credit ...
4
votes
2answers
200 views

Should I try to optimize my credit score before applying for a loan?

I am considering shopping for a house somewhere this year, which of course would involve shopping for a mortgage. And mortgage rates depend on the credit score. My credit history is clean from ...
7
votes
4answers
5k views

Are credit histories/scores international?

I'm starting work in the US, and I'm wondering if my credit history will transfer. If not, is there a way for me to gain an "international" credit history, or equivalent, in expectation of other ...
5
votes
3answers
118 views

Is there a way to get a helpful person at a credit agency?

This question applies to anyone with a need to sort out a credit report issue, but I'll give the background in my particular case. My credit is fine with all three agencies, but only one of the three ...
2
votes
4answers
164 views

How would skipping a bill affect my credit history?

Just out of curiosity, approximately how much would my credit score go down if I don't pay a $500 hospital bill?
10
votes
4answers
234 views

Is there value in using a credit card for the sake of using it?

We've recently (last 6 months or so) paid off several of our cards completely, and are working to pay down our last, highest utilized card. We don't generally need to charge much and can pay in ...
2
votes
7answers
273 views

What's the fuss about Credit Score / History?

I have seen a number of questions about improving or checking your credit score / history. I think a Wiki would be a good idea to deal with these questions. My feeling is there that you shouldn't ...
16
votes
3answers
707 views

Should I really pay off my entire credit card balance each month or should I maintain some balance?

I've heard two conflicting things: One is that you should pay your entire credit every month, and the other that you should maintain roughly %30, %50 (it varies by who you ask) of your available ...
9
votes
1answer
210 views

How does applying for credit affect your credit score?

How does applying for credit affect your credit score? I was answering a question about getting a loan and realized I don't have detailed information on how applying for credit (even if you do not ...
8
votes
4answers
173 views

Will replacing a credit card with a better one hurt my FICO score?

I have a credit card from 1st Financial Bank. I got it when I was 18 years old, and have kept up with it 100%. After the recent US legislation on credit cards, they have started hiking various fees. ...
7
votes
5answers
121 views

Are the “debt reduction” company useful?

My Chase Credit Card vary their payment date each month by a day or two each month, claiming that it is "related to different number of days each month." So naturally, it is easy to throw me off as ...
1
vote
0answers
128 views

How can I find out my credit-score? [duplicate]

Possible Duplicate: How can I check my credit score? I just recently graduated college and am looking to start building credit. How can I find out what my credit-score is, and how that will ...
5
votes
3answers
788 views

How do “past due” utility bills affect credit rating?

I received a utility bill which is clearly in error. It claims that a previous payment is "past due", when the bill claiming this is dated before the due date on the supposedly past due payment it ...
6
votes
2answers
431 views

Do things really fall off a person's credit in seven years?

I'm looking to start repairing my wife's credit on which she has several credit cards from before we were married. These debts are reaching the 7 year window where I've heard things "fall off" your ...
3
votes
3answers
674 views

Why is my credit card not showing on my credit report?

I have just got my credit report. All seems fine, but I have noticed that there is no mention of my credit card on the report. I only have one and it is with the same bank current account. I was a ...
4
votes
2answers
122 views

Who checks my credit history when I apply for a credit card?

I'm guessing this may be how it works: Card company > Some Company > Me I can get a credit card from my bank or some company. Do those guys review my history? Or does the card company? Perhaps "Some ...
7
votes
1answer
240 views

How does a no-limit charge card affect your credit score?

I have been reading recently about how credit scores are calculated, and it seems that the ratio of available credit to used credit (ie, debt) plays a large role. I am curious how a charge card ...
4
votes
4answers
130 views

Should I apply for more credit cards in order to improve my credit score?

Is it true that you can increase your score by applying for more cards? Do you need to be active on those cards for that to work? Thanks a lot.
12
votes
8answers
480 views

Relocated to USA. How to get credit card without existing credit history / score?

I recently relocated to USA and have no Credit Score. Is Secure Credit Card is the only option for me to start building my credit score? Also please recommend which other credit cards are available ...
9
votes
2answers
193 views

Does losing your credit card damage your credit rating?

Obviously, losing your credit card is bad for plenty of reasons. But say you lose it, report the loss, and get a new card without anyone else having used it in the meantime - no charges need to be ...
6
votes
4answers
2k views

Is my credit score of 766 lower than it should be?

I'm a 25-year-old recent college graduate in the US with a full-time job. My credit score is 766, grade C, 43rd percentile (VantageScore formula, not FICO). My TransUnion report lists the following ...
15
votes
3answers
276 views

Global credit record: Would my good credit history apply internationally?

Does my credit record apply internationally? For example, if I have a good credit record in Australia, with a car / house loan and a credit card or two, can my good credit rating be seen by banks and ...
9
votes
3answers
3k views

Will Cancelling Department Store Credit Cards Improve My Credit Score?

I have about 5 department store credit cards that I never use. If I cancel those accounts, will my score improve? Even a little? Again, these aren't credit cards. They're store cards (like Home Depot, ...
9
votes
2answers
256 views

What is the optimal ratio of used credit to credit limit for your credit score?

I have been told to never go over 50% of my credit limit on any credit card even if I pay always off in full for each statement, in order not to hurt my credit score. Is this true? What is the ratio ...
4
votes
4answers
177 views

How can I check my credit score?

I've seen the commercials for freecreditreport.com, but commercials with singing pirates make me uneasy; maybe they'll steal all my booty (personal information). What are the different ways to check ...
15
votes
4answers
2k views

Is a high credit limit on a credit card bad?

I've had a credit card for a long time, and every so often they've sent letters telling me they're increasing my available credit. Does it negatively affect my credit score to have a high limit, one ...
4
votes
4answers
1k views

Ways to improve my stagnant credit score

My credit score has been stuck at 695 for about four months. That's a vast improvement from the 500 or so it was four years ago, so I've come a long way. I have two credit cards with balances on ...
8
votes
5answers
368 views

How many credit cards do I need? Should I open another just for the cash back feature?

I just got a mailer from Discover offering a new card, with 5% back on some items and 1% back on everything else. However, I already have a Visa which I have had for a few years. Does it make any ...
6
votes
2answers
433 views

Does closing a normal bank account affect my credit like closing a credit line?

I have a checking account that I once opened to divide money into different piles. I have since stopped doing that and want to close the checking account. I still have other checking accounts with ...
7
votes
4answers
2k views

What impact does overpaying credit card bill have on credit score?

Lets say I got monthly credit card bill for $100 but when I go to bank account online to pay I see that my current credit card spendings are already $150. Should I pay $100 or $150?
7
votes
4answers
128 views

Should I have accepted the offer to double my credit?

I recently received an "invite" from my credit card company with a limited time offer to double my current credit limit. That's right, double! I didn't reply, and they later followed up with an ...
5
votes
2answers
154 views

When Is Using Too Much Credit Bad?

I currently have a secured credit card with $300 secured. I thought this would be a good approach to establish credit, so I started using it with the intention of fully paying it off after closing ...
8
votes
3answers
239 views

Why Am I Having Such A Hard Time Getting a Credit Report?

I have always heard about evil credit card companies preying on vunerable college students. I find that quite interesting, considering I've found it impossible to get a credit card! Even more ...
13
votes
3answers
506 views

Should I keep a credit card open to maintain my credit score?

I have a credit card that was opened when I first got ot of college, and was my first credit card. Since then, I have switched to cards with rewards, figuring that since I pay it in full each month, ...
12
votes
3answers
803 views

I just moved to the United States. What should I do to develop a good credit rating, fast?

I just moved to the US for working purposes, and found out that for a lot of stuff you buy, you need to have a good credit rating (or pay more, or make a security deposit, etc). I found out also that ...