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Questions tagged [credit]

for questions that relate to all forms of credit.

2
votes
1answer
128 views

What happens if I don't pay utility bill even after repeated customer service interaction to stop the service?

It's a slightly long story. I live in an apartment building in MN (US). There was a mistake when I moved in and eventually the gas utility for the building remained in my name. Usually it is supposed ...
9
votes
4answers
1k views

Should I max out my first credit card in order to build credit if I can pay the balance immediately?

I was just approved for my first credit card. I will be making a large purchase soon which will exceed my credit limit. I could split the purchase between cash/debit card and my new credit card or ...
2
votes
3answers
123 views

Will reissuing my credit card to get a new number every year or even more frequently hurt my credit or effective me negatively?

I recently had to have my card reissued because I noticed a charge on my account I did not make. Then I realized I had this card for like 4 years and credit card numbers are static. Why shouldn't I ...
2
votes
0answers
71 views

credit freeze for a minor through Experian

The Experian site does not answer my questions and there is no way to speak to a human at Experian that I can find. I am hoping the fine folks here might have experience/knowledge on this. I already ...
1
vote
1answer
39 views

What's the correct way to show a credit or discount on an invoice or order summary? [closed]

Is there a standardized way to express discounts or credits in an order summary? Example... Sub total: $20 Discount: -$10 Total: $10 I've seen discounts expressed as -$10, $-10, ($10), and +$...
1
vote
1answer
118 views

Car is under my girlfriends name, can i refinance it?

Last year i needed to buy a car, but my credit was bad atm, so my girlfriend at the time let me use her credit to buy it. Now almost 2 years later i have to buy a diferent car so i can take out of the ...
1
vote
3answers
52 views

Do joint credit cards contribute to established credit when applying for new credit?

If I wanted to take out a personal loan or open a new credit card, would a joint credit card contribute to showing I have established credit? For example: Lets say I have a $1k limit personal credit ...
3
votes
1answer
645 views

Lady on FB offering to pay my debts. Scam?

On thanksgiving day some lady posted in a facebook group that her father had just passed away (left her money) and in good deed because it was thanksgiving she was offering to pay people’s debts. Well ...
3
votes
0answers
114 views

Why does Mastercard allow Santander (Germany) to issue a Maestro card with a revolving credit?

Maestro is a debit card product by Mastercard. So far I have only seen or heard of cards which are one of the following: Linked to a checking account at the same bank that issued the card Linked to ...
1
vote
2answers
168 views

How should I go about getting my next car?

A few months ago I bought my first ever financed car (I'm 19). It's the only credit history I have as of now. I bought a 2015 Chevy Spark with a 28% front loaded interest rate. So, regardless of ...
-1
votes
1answer
81 views

Credit Utilization and Score. Early re-payment

I feel like this may result in the same unanswered question but I'm gonna ask it anyway just in case we can get a definitive answer. Does paying off your credit card (before a statement is generated) ...
2
votes
1answer
168 views

Paying off student loans in anticipation of home purchase

I graduated college in May and have been working full time since. I have $19,000 in student loan debt, all subsidized/no interest yet, that goes into repayment soon. I am also getting married next ...
4
votes
2answers
205 views

Why a company would prefer selling shares rather than borrowing money?

I hope this question doesn't sound stupid as I don't have much economic knowledge. If I understand it right, the point of selling shares is that a company can finance itself. But usually small ...
8
votes
4answers
3k views

401(k) loan and job transfer

Background I took a 401(k) loan to facilitate a move across state (My wife is a newly graduated physician who took a residency offer near our new home). I up and switched jobs in the same career ...
3
votes
1answer
103 views

How many open credit card accounts do issuers like to see when someone applies for a new credit card?

How many open credit card accounts do issuers like to see (according to some formula or rulebook) when someone applies for a new credit card? Specifically when each card is in good standing and paid ...
26
votes
5answers
10k views

Why do credit card issuers offer a grace period?

I am wondering why most credit card issuers offer a grace period after the statement date, provided they're not obliged to? Is it required by law (I'm 99.99% sure it's not but just in case)? Does ...
21
votes
4answers
10k views

HELOC debt is 2x my mortgage, help [duplicate]

My home equity line of credit (HELOC) amount owed has now grown to where it is approximately double the amount remaining on my mortgage and the interest payments are killing me. I have no other debt. ...
2
votes
2answers
217 views

Is it beneficial to keep switching a small credit card balance back and forth between two cards?

I have two credit cards that I don’t really use and was wondering if there’s any cons to putting a small balance of $50 on one and keep paying it at the end of the month with the other card without ...
-1
votes
1answer
66 views

How to enter cash back from credit card payment in account? [closed]

If you purchase petrol and pay by credit card, when some charge are reversed, then your card is credited. How does one enter this statement for accounting purposes?
0
votes
3answers
139 views

Considering leverage [closed]

I started investing two years ago. Currently my situation is as follows: I earn 1700 € per month and manage to save 1200. To be Conservative and as rents are going up in my country, we can assume ...
4
votes
3answers
268 views

Can you hurt a nonexistent credit score?

I am a student, I just started my sophomore year. I have always been very financially responsible. Now, I want to start building my credit, so I did my research and applied for a student credit card. ...
1
vote
7answers
515 views

Buying a brand new luxury car

I read this and this questions - although not all of the answers. My question is fairly similar to the first linked question although I have different circumstances. Context I am a 29-year old ...
84
votes
18answers
70k views

By 18 years of age, I want a brand new car that's $43,668

I'm from Arizona and I will be 18 in 4 months. I make about $1,200 a month from my job. I have $600 in my bank account and I don't plan to spend any of it until I'm 18. I'm looking to get a ...
2
votes
3answers
285 views

Why would a lender raise interest rates if you are in danger of not being able to pay your loan?

This is a follow-up to this question. It is established that lenders charge higher interest rates to customers less likely to be able to repay their loan in full, but this increased rate shouldn't ...
0
votes
2answers
134 views

Monitoring of how the credit cards are paid off?

I'm in the process of getting a mortgage but my DTI ratio is like 40% and I am trying to just pay off the credit cards so it isn't so high (that way I will only have student loans and car payment with ...
2
votes
1answer
49 views

How to Aggregate APR

I currently have several different credit accounts with balances that need to be paid off, and I am considering consolidating these accounts into a single loan account. These accounts each have ...
1
vote
1answer
177 views

How to get a really tiny loan when self-employed? [closed]

I am newly self-employed and need a pinch of money to resolve some current loans. I need only 100 to 200 dollars on short notice -- has to be deposited to bank so a credit card cannot help. I have no ...
3
votes
3answers
2k views

I cosigned for my son. He took off in the car before it was fully financed. I want my name completely off the car

I cosigned for my son. He took off in the car before it was fully financed. I want my name off the car. We signed paperwork stating we agreed on a 60 month term through a bank but then found out the ...
0
votes
0answers
28 views

Implied credit spread convertible bonds with negative yield

I’m trying to understand what happens to the credit spread of a convertible bond when yields of the convertible are negative. I’ve heard there is an implied credit spread as spreads can’t really be ...
0
votes
0answers
24 views

Credit Valuation Adjustments (CVA) and how they work?

I am new to finance but have developed a deep love for the subject. One area of finance that I can't wrap my mind around is CVA. I understand the Definition but I can't seem to put that into a ...
2
votes
2answers
238 views

Is it rational that agencies downgrade your credit rating if you close a card?

Multiple sources say that if you have several credit cards with balances, and you pay down one of them, your credit rating will take a hit if you close that card. Now I know what the stated reason is ...
0
votes
2answers
414 views

Can U.S. car dealerships pull your entire credit report or just your FICO score?

In the U.S. can car dealerships pull your entire credit report, or just your score if you go into them to apply for a loan? Of all the research I've done, it sounds like its just your FICO score that ...
1
vote
1answer
173 views

How does this credit scoring work?

I live in the UK, where credit referencing agencies are seen by many (myself included) as the devil. They hold a lot of life-critical information about me but they don't want to share that info, not ...
-1
votes
1answer
837 views

Using credit on the day of closing date [duplicate]

Would it not affect my credit score if I use my credit card on the day of my closing date or a day prior the closing date?
1
vote
1answer
67 views

Question about credit card [duplicate]

My credit card due date is May 4th and the closing date is May 7th. I have paid statement balance in full today, so it's early than the due date. But I would like to continue purchase through this ...
-1
votes
1answer
163 views

How to transfer credit history to another bank?

I am planing to make first credit card (BOA secured credit card). Also, I want get UA explorer card later (I understand it is need high credit score). I am trying to build credit history by this BOA ...
2
votes
2answers
74 views

What should be kept for college expense tracking

Parent of a Freshman - looking at AOTC for 2017 taxes and planning for 2018, haven't gotten good advice on how to prepare for this year's taxes, getting an extension, and looking for a list of ...
1
vote
2answers
81 views

Rebuilding my credit

I am trying to rebuild my credit following a bankruptcy. I have attained a secured credit card. Is it best to pay any balance before I receive a statement? Or should I wait until I receive the ...
2
votes
1answer
282 views

Should I make small monthly purchases on ALL six of my credit cards and then pay off in full each month?

I am trying to rebuild my credit. I know it’s critical to establish a history of responsible credit usage. I’ve been diligently making small purchases on two of my three major credit cards every month,...
4
votes
1answer
245 views

Leasing a car with good income, but very young

I am 19, but I'm employed as a software engineer, making six figures. I want to lease a very expensive sports car, but I'm not sure if my age will stop me from doing this. I've had three credit cards,...
3
votes
1answer
430 views

How do I make payments, or how should I make payments, on a credit card?

I just got my first credit card, and I'm not sure if I understand how it works. Here is my understanding. If it is relevant, I am an American. I buy something with my credit card. Then, after I have ...
3
votes
0answers
100 views

Who to contact to understand my credit score?

When I was a kid, all the way until I was about 18, I was very ill. I would often have to go to the doctor or hospital and get treatments and scanned, etc. I have multiple debts that occurred when I ...
2
votes
1answer
154 views

Should I apply for another credit card?

I'm in a spot where my credit score has tanked over the last several years. I'm puzzled by the fact that I keep getting credit card offers. I am currently paying a credit card down. I have no open ...
3
votes
2answers
233 views

Opening Credit Cards to capture the Intro bonus [duplicate]

The past few years, I have been opening a new credit card that offers a intro bonus (usually $200 - $300 after spending $500 or $1000 within the first 3 - 4 months) and also 0% purchase APR for 12 ...
16
votes
5answers
3k views

Credit advice in preparation for buying a house a year from now?

I plan on buying a home about a year from now. I'm 25, have never owned a home before, but I have a credit score that hovers around 780, so I've got that going for me. However, I do not plan on co-...
1
vote
1answer
125 views

What can I do to get credit issuers to tell me exactly why I was not approved?

Whenever I apply for a credit card or credit line on the internet, I am often given the message that I was not approved, and that I would get a letter via snail mail as to why I was denied. But, when ...
2
votes
1answer
276 views

Why was I offered 6.45% APR on my first credit card?

I decided to get my first credit card last week so that I can increase my credit rating. I was kinda surprised to find out that for some reason they offered me a permanent rate of 6.45% APR. Here is ...
1
vote
4answers
244 views

Am I hurting my credit in the long run by not using my card?

for starters, I'm a 23 year old in the USA. So when I lived at home, I took out a loan to buy a car, which my parents cosigned on, this was my primary credit-building exercise. I ended up paying that ...
1
vote
1answer
60 views

Will I be able to get an FHA home loan if I opt for a voluntary repossession on my current auto loan?

What i'm asking is will my credit go down that much and if I decide to voluntary repo? I'm currently at 650. If I can't get a FHA loan what are my options for buying a home with a repo on my credit ...
3
votes
1answer
197 views

How can I refinance this loan?

To make a long story short I made a huge mistake, I financed a used 2006 vehicle in October of 2017 at 26.13% interest the price was $20,000 as the vehicle stands it currently values at $15,000 ...