for questions that relate to all forms of credit.

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13
votes
5answers
3k views

Is it true that it's better to have bad credit than no credit?

There's a popular saying: It's better to have bad credit than no credit. Is this true?
7
votes
7answers
35k 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 ...
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 ...
4
votes
1answer
759 views

Can I get a mobile phone contract if I am unemployed?

Can I get a mobile phone contract if I am unemployed?
8
votes
2answers
238 views

Can you calculate the ROI on your credit score?

I've heard it said from people who work in the industry that your credit rating isn't a measure of your ability to pay, but rather a measure of how profitable a customer you are. I've also heard ...
9
votes
4answers
386 views

What's a Letter of Credit? Are funds held in my bank for the amount in question?

Can someone easily cash one? Is it used for business only, or is there an advantage to consumers using them as well?
6
votes
3answers
190 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
137 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 ...