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Questions tagged [credit]

for questions that relate to all forms of credit.

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2
votes
2answers
84 views

Credit bureau - Credit freeze vs Fraud Alert

I suspect my passport information along with other personal information was leaked on a website. I have already setup Credit Freeze, would Fraud Alert be also necessary? What are the benefits and ...
2
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1answer
181 views

Is selling tradelines safe?

I recently learned about selling tradelines. As far as I understand it users with credit cards with long credit histories and large limits sell authorized user positions to people looking to improve ...
23
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5answers
13k views

Sugar daddy wants me to apply for a credit card so he can link me to his company account. Suspicious or am I being paranoid? [duplicate]

So basically, I was really desperate when I met this guy. I'm 18. He says he's in Canada right now, and will be back on the 23rd. When he isn't talking about money, he's been really upfront, honest, ...
3
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2answers
391 views

How can I regain my credit history after having legally changed my name?

In 2015, I opened a CreditKarma account to monitor my credit even though I had no credit history at the time. In 2017, I successfully applied for a secured credit card with a low credit limit based ...
3
votes
2answers
164 views

How can checking credit to open a new account have no impact on your credit score?

The advice I've typically seen is more like this advice “Hard inquiries,” also called “hard pulls,” are the kind that can cost you points. They happen when someone pulls your credit for the purpose ...
1
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1answer
126 views

18 year old building credit

I'm 18 and currently my credit score was 524, only because theres an overdue bill of $500 from when I was a minor in my derogatory marks. I have disputed it through credit karma for Tranunion and it ...
3
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1answer
123 views

Can an individual report data to a credit bureau

What process do credit card companies and financial institutions go through to have the ability to report payments to credit bureaus? Ex. I have money I want to loan to someone. I run a credit ...
1
vote
2answers
169 views

Is it safe to give credit card first 6 numbers+ last 4 over email? [duplicate]

A company that I had previously had a subscription with and cancelled continues to charge me, so I contact their support team and they say that their system shows me to be cancelled. They have asked ...
2
votes
1answer
185 views

Will Freezing My Credit Score Help Me Hide My Current Address?

I grew up in an abusive household and don't speak to my parents. Recently they found out where I live - very far away from them - and showed up unannounced at my door. I understand my credit report ...
1
vote
1answer
196 views

Buying a house with credit line and getting a mortgage later

We are considering buying a house for about $150-160 thousand. We recently moved, and my wife has been on maternity leave benefits for a year now. So, proof of income is basically non-existent. We ...
3
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3answers
246 views

is high credit score an asset? [duplicate]

A quick definition of asset is a useful or valuable thing, person, or quality. Can a high credit score be thought as an asset ? I am not asking what can I do with my credit score, I am simply asking,...
-1
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1answer
176 views

How soon can I close Amazon rewards credit card after opening?

I got the card today for the $70 sign up 'Gift Card', only have 2 other credit cards with $5,000+ limits with $0 balance on both and want to know when I can close the Amazon account. I only spent ....
28
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5answers
7k views

What can I actually do with a high credit score?

I recently checked my credit score via two of my credit card providers. It seems to be hovering between 790 and 815. One service brands the score it provides as a FICO score and the other specifically ...
1
vote
1answer
130 views

"Discover® Identity Alerts (is there a downside to this free service)

I got the offer today. Other companies have made similar offers. Is there a downside to this kind of thing? Are they getting some sort of access that they will somehow market some junk to me? Here's ...
33
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5answers
22k views

Is it appropriate for a prospective landlord to ask me for my credit report?

Context I'm looking at renting a house. The application the realtor sent me specifies: Below is what is needed to submit an application on [Address] and a few lines below specifies: Credit ...
0
votes
1answer
108 views

When does credit card utilization matter?

I'm learning more about credit before I get a credit card, and I read that it's advised to never use more than 30% of your credit card's limit. Let's say someone has a $2000 credit line and he spends ...
2
votes
2answers
198 views

What should I expect when applying for credit?

EDIT: It has been suggested that this question is a duplicate of Personal loan while unemployed?. In fact it is not a duplicate of that question, because I'm not asking about getting a personal loan ...
1
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2answers
104 views

Accounting for VAT (and expenditure) on credit purchase

I'm VAT-registered. Suppose I buy something related to the business on credit (3% for 24 months) for £3000 (£2,500 ex-VAT plus £500 VAT). (These amounts are totally made up.) The payments are £128.94/...
4
votes
1answer
364 views

Bad credit, 50k cash, how do I buy a house?

Due to a personal circumstance, I was unable to pay my bills for about 6 months and it took my credit score from a 720 to 520 (repo, charge-offs, and collections). I now have about 50k in the bank, ...
2
votes
3answers
277 views

Can you build credit history without getting a credit cards or taking on debt?

As far as I know I have no credit history as I have never had a loan or credit card. I buy things using a debit card tied to my credit union bank account and prefer not to have a credit card at all. I ...
2
votes
2answers
180 views

if I/some credit card keep applying how low the score can get

This seems a hypothetical question. Suppose a person has a already low credit score( I suppose it can not be less than 300) . Question1: And if that person apply for 2 different credit cards at ...
0
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4answers
189 views

received a credit to the card used to purchase a trip —how do I access that amount into my own checking account

I received a credit to a credit card account I used to purchase a airline ticket. Trip was cancelled and the refund went into that credit card account and there is a zero balance, but a $560 credit ...
2
votes
0answers
82 views

Zelle accidentally sent me a “transaction credit”

The amount is the same that is deposited into my account for my full time job so I contacted my employers already as well. Now sure if Zelle can take the money back?
1
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1answer
109 views

Inappropriate credit report hard inquries

I'm an international student in the US. Three weeks ago I decided to buy a used car. I found a great option at an official manufacturer dealership. I wanted to buy it fully for cash. After a little ...
0
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2answers
144 views

checking credit report for disabled adult child

I am the legal guardian of my disabled 26 year old son. I want to check his credit report to make sure noone is using his identity. how can I do this?
3
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2answers
171 views

Negotiating with a collections agency to remove a valid, small debt from credit report

I just found out that my wife had a debt from a doctor related to our recent pregnancy go to collections. I found out because credit monitoring picked it up - I haven't heard from a collections ...
6
votes
6answers
1k views

Importance of Building Credit Score?

For some background, I am in my early 20's about to graduate college. I have steady full-time employment that allows me to live within my means while building my savings. Right now, an emergency fund ...
24
votes
8answers
10k views

Asking bank to reduce APR instead of increasing credit limit

My credit card just notified me that they raised my credit limit (unsolicited). This would do well to my utilization and thus improve my credit scores overall. However, my overall utilization across ...
-1
votes
5answers
229 views

Getting an auto credit history without buying a car

I’ve graduated college and got myself a pretty solid engineering job. And think it’s time for a new car. I’m looking at some of the nicer cars in the $100k range. The problem is I’ve never had a ...
1
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0answers
29 views

Do I need to file taxes or can I file taxes educational credit refund purpose with 1098T?

I did not work at all but I received a 1098T for my online school. The 1098T has $12,070.04 on box 1 and $2,529.53 on box 5. I will like to know if I should file taxes with the 1098T only to get ...
2
votes
1answer
118 views

Are there any particular ways to use a secured credit card best? [duplicate]

I am using a secured credit card to build back my credit. Is there a particularly good way to do this? I know that a secured credit card will allow me to increase my credit score. But I'm not sure ...
1
vote
2answers
136 views

Impact on credit score of opening and closing accounts

I'm planning on buying a house sometime in the Winter of 2020 to spring 2021. Currently, my credit score is about 770 and I have the following open credit lines: A 2.5 year old $25,000 Prosper loan ...
-1
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1answer
1k views

Credit card debt someone want to pay off for me

I am in credit card debt approximately $20,000. I am on a fixed income there is no way I can pay the payments. I recently met someone on a dating site. We have been talking for three weeks. She claims ...
5
votes
1answer
738 views

Should I take advantage of “interest-free” credit when buying something? [duplicate]

If I buy something like a smartphone or a new PC, when you have these choice: Pay all the cost at the moment. Pay it in 6/12/18 months (with loan but without any interest rate and any extra cost). ...
5
votes
3answers
537 views

Mortgage Pre-approval / Loan - Apply Alone or with Fiancée?

My fiancee and I are interested in buying our first house and are beginning to go through the process. We'd like to put 20% down to avoid PMI and are thinking ideally a 20-year mortgage. Between my ...
1
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4answers
360 views

Family of 4 (1 adult, 3 kids) dealing with eviction. How to find a new place to live?

About 4 years ago I was evicted from our apartment in California. I have been staying with family but this is no longer an option. I have been trying to get a place for us but keep getting denied due ...
1
vote
2answers
390 views

Which one is better: Paying a non-refundable deposit of $175 vs a refundable deposit of $1330

The apartment community has given me two options based on the credit risk. I need to pay them a refundable deposit of $1330/- at the time of move-in. It is completely refundable at the time of move-...
2
votes
1answer
81 views

When should an immigrant to the US be able to freeze their credit?

I know someone who's been in the US for about three years. He came legally and is in the process of becoming a citizen. He has a bank account, a shared checking account with a family member, but no ...
1
vote
3answers
239 views

Large credit score drop

I use Mogo to review my credit score every month. I just moved to Canada so it took a while to even kickstart my rating, however, Mogos history shows. Dec (2 months after I got my credit card) - ...
0
votes
1answer
136 views

Do I have too much available credit?

For some background, I'm a recent graduate doing mostly freelance work while teaching English on the side in France. My freelance work grosses me about $25,000/year, and my job in France is about $8,...
3
votes
1answer
238 views

In what ways does getting married to someone with poor credit affect someone with good credit?

Two middle class individuals, Jim and Jane, are dating. Jim has a 715-730 credit score, as reported by Credit Karma, and has no problems (late payments, bankruptcies, etc) for the last 7-10 years. ...
8
votes
4answers
829 views

Is it okay to under-report my income when applying for a credit card?

I want to apply for a store-branded credit card that offers extra rewards for purchases made at that specific store. I have no intention of using this credit card elsewhere, I intend to pay it off in ...
0
votes
0answers
17 views

Can Credit Default Swap have a variable premium as the risk of default go down?

If the risk of underlying entity goes up, then shouldn't the premium for CDS go up as well? are CDS premium always fixed by default?
0
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1answer
89 views

Why would someone sell credit default swaps for companies with high chance of defaulting?

Similarly, why would anyone buy credit default swaps for companies with low chance of defaulting?
2
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1answer
152 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 ...
10
votes
4answers
2k 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
137 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 ...
1
vote
1answer
94 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
519 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 ...
0
votes
3answers
102 views

Do “authorized user” credit cards contribute to establishing credit in the eyes of a credit card issuer?

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 ...