Questions tagged [credit]

for questions that relate to all forms of credit.

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14 votes
2 answers
9k views

I found out I was the primary on a car loan and not the co-signer

I found out 6 years after I thought I co-signed for a car that I was actually the primary. The notes were paid at first, my daughter ended up doing a voluntary repo. What can I do?
Shauna's user avatar
  • 165
3 votes
3 answers
923 views

To pay for something with installments, or not?

Let's say I want to buy something for 5000 and in my country we have 80% inflation yearly. Would it make sense to pay 5000 now, or pay in monthly instalments over 12 months for 5600? (that's the ...
Turgut Kalfaoglu's user avatar
-4 votes
1 answer
176 views

Can a credit company add 1000 to your account for not paying off your balance on time? [closed]

Can a credit company add 1000. to your account and say it's because you didn't pay the original balance on time?
Renea Simmons's user avatar
6 votes
2 answers
3k views

Why do secured bonds have less default risk than unsecured bonds?

Why do secured bonds have less default risk than unsecured bonds? Secured bonds are backed by specific assets of an issuer while Unsecured bonds are backed by all assets of the issuer - so shouldn't ...
sai_varshittha's user avatar
2 votes
1 answer
2k views

My girlfriend helped me buy a car - Who is responsible if she takes it back?

My original car was totaled, and I couldn't get a car on my own due to bad credit. The dealership approved me at a high rate with money down. When I get my trust fund, I can buy one. My girlfriend ...
Mike's user avatar
  • 21
5 votes
2 answers
736 views

What does "investing in credit" mean?

I have seen saying such as "invest in credit/be long credit", what does it actually mean? For example, I can buy high yield etf which is essentially a basket of low rated corporate bonds. ...
Medan's user avatar
  • 509
1 vote
1 answer
151 views

Why can't you see your credit score at all times?

I've just seen over the years that you can check your credit score now and then and sometimes it might lower it a small amount just to check. Why isn't credit some transparent function of various ...
Julius H.'s user avatar
  • 141
0 votes
0 answers
62 views

CDs Credit Deposit in Europe?

i am getting interested to Credit Deposit CD as i think are very low risk and give you an distribution for every maturity that can be also 3 months. I am looking at CDs because are very liquid , ...
DevLeo's user avatar
  • 75
0 votes
1 answer
425 views

accidentally opened up a line of credit - what can i do?

So I was trying to update my address on my PayPal Credit Card and apparently I opened up a new line of PayPal Credit instead. Like apparently the PayPal Credit Card and PayPal Credit are two ...
neubert's user avatar
  • 3,811
-1 votes
1 answer
185 views

Late payments due to online banking not working

Last year I opened a new bank account and got a credit card with the same bank. Online banking hasn’t been working since the beginning, so I cannot pay my credit card balance online, check the ...
NearIR's user avatar
  • 99
0 votes
1 answer
137 views

Does having multiple credit cards (over 5) hurt your credit score, or will it build your credit score?

After my divorce I found that I had no credit. So, I began building my credit and am doing quite well with it. I started with a secured card with a low limit (under 1K) several years ago. When my ...
Christa Lodico's user avatar
0 votes
1 answer
140 views

F1 visa and credit card debt

I am currently in the US on an F1 visa and I have over 4000$ credit card debt (4 maxed out credit cards). I make on time payments each month and should pay it all within a year. Can I leave the US and ...
Liyak 's user avatar
0 votes
0 answers
65 views

Credit Card Charges for Foreign Purchases

I used my Mastercard when purchasing on vacation in Canada. When I received my credit card bill, I did see the Foreign Fee attached, which was fine. However, in my most recent activity, I found the ...
Janet R. Haley's user avatar
1 vote
3 answers
208 views

Opening first credit card and car financing

I just graduated and I'm about to start a new job in the US in September. I haven't had a credit card before and I would like to finance a car, which is $34k. My monthly salary after taxes will be $5k ...
use80085's user avatar
1 vote
1 answer
178 views

Can a bank take money out of my account without asking, to collect old outdated debt?

Almost 2 decades ago I had identity theft and they maxed out my card. I lived with it (and terrible credit) and could not discharge it or pay it off. Some years ago this all fell off my record and is ...
user7211's user avatar
0 votes
2 answers
585 views

Extension of Credit meaning

I'm reading some finance literature and often when it refers to loan it instead uses these term: extending credit extension of credit credit extension When I google define "credit extension&...
woky's user avatar
  • 113
0 votes
0 answers
463 views

I paid R3999 for registration R4,799.05 for IMF now R3,768 for C.O.T is this not a scam? They will need another money after this? [duplicate]

I apply for a loan I pay 3999 for registration after IMF of R4,799.05 now I must pay R3 768 for C.O.T and they say I will get the money back is this not a scam?
Lindiwe 's user avatar
0 votes
1 answer
81 views

How do I increase my credit utilization without decreasing my credit score?

I have a Discover card with a limit of around $2000 ("Discover It"), which is very low. As a result, I end up putting my biggest purchases on debit, or use an alternative form of payment (eg....
Roddy of the Frozen Peas's user avatar
3 votes
1 answer
1k views

CareCredit Co-signer Triples Credit Line, Maxes it out & tanks my score

Long story short-two years ago my dog was bitten by a copper head. My credit was not great then as I had no cards or any payment history of note. The vet bill estimate was way outside what I had so ...
J. Canon's user avatar
-2 votes
2 answers
3k views

Can I trust Zelle to credit my account for added charges?

I listed a dress for $300 on FB Marketplace. The buyer uses Zelle so I set up an account because D said that was the only way she sent funds. She said she sent Zelle the money. So I get an email ...
Barbara Christman's user avatar
8 votes
4 answers
4k views

What could prevent a bank from lending to me to buy commercial real estate?

If I want to take out loans to buy real estate with the intention of renting it to cover the interest on the loans, what are the red flags that might prevent a bank from extending a loan to me? ...
Five Bagger's user avatar
  • 9,775
2 votes
2 answers
136 views

What's the fastest and most cost effective way to build credit as a newly arrived immigrant with a good income?

What's the fastest and most cost effective way to build credit as a newly arrived immigrant with a good income? Context: I'm emigrating to the US under an L1 visa and will have a good salary in a big ...
marianov's user avatar
  • 121
0 votes
3 answers
60 views

Maximum credit exposure to Over the counter straddle

A trader purchases a six month over-the-counter straddle on stock A for a 1 Million premium from a counterparty. The maximum credit exposure over the life of the trade is: 1)less than 1 Million. 2)...
Win_odd Dhamnekar's user avatar
1 vote
1 answer
556 views

Why is direct deposit required for credit builder accounts?

It seems all credit builder accounts (e.g., Chime, Varo Believe) require direct deposit. Why should it make a difference on how the money is put into the account?
DAV's user avatar
  • 119
0 votes
1 answer
102 views

Financial and/or credit risk management

A portfolio consists of two (long) assets £100 million each. The probability of default over the next year is 10% for the first asset, 20% for the second asset, and the joint probability of default is ...
Win_odd Dhamnekar's user avatar
4 votes
2 answers
1k views

IRS says Senior is entitled to credit, but only if they receive his 2020 return

My Uncle does taxes by hand and does not use tax person. He filed 2020 and sent check for amount $123.45, the amount he owes. iRS cashed this check few days after he mailed 2020 return (back in Apr ...
Marium's user avatar
  • 361
3 votes
3 answers
214 views

What's the difference between a soft and hard credit check?

I understand that hard credit checks negatively impact a person's credit score. Why would it work this way, because it's seen as a negative thing to be applying for credit cards too often? Even then ...
user110101's user avatar
1 vote
1 answer
177 views

Why didn’t my credit score fully recover after paying off a collections account?

My credit score went down 58 points due to a medical collection account that got reported. I ended up paying the account in full and submitting a request for it to be removed from my credit report. ...
Timothy Fisher's user avatar
1 vote
1 answer
165 views

Is the holiday season an unwise time to apply for credit?

Given the rise in consumer spending during the holidays, do lenders mitigate the increased demand for credit by offering lower credit limits than usual, or having stricter criteria for approval?
stateazure's user avatar
1 vote
1 answer
72 views

is it ok to pay off a larger transaction early BEFORE it posts or extracts it from the account?

to be on the safe side..is it ok to pay off a larger transaction early BEFORE it posts or extracts it from the account? i have a good score and this cc is the only one that affects it. it is a ...
Ry Paul's user avatar
  • 11
1 vote
1 answer
118 views

Is a Service Like Extra Credit or Experian Boost for Building Credit Score Worth It?

I am looking to build my credit score to have a better chance of qualifying for a home loan. I've seen a few credit building tools out there but am wondering if anyone has used Experian Boost or Extra ...
JoseR's user avatar
  • 11
1 vote
1 answer
149 views

Does overpaying credit card to pay a much larger sum than your credit limit to get cashback negatively impact credit score?

I am an immigrant and the concept of credit cards is fairly new to me, I understand it enough and know that using more than 30% percent of your credit card can hamper or negatively impact my credit ...
ohmycredit's user avatar
1 vote
0 answers
78 views

What are some of the factors that affect loan pricing?

In an interview for a bank, I was asked about some of the factors that could affect loan pricing. They asked me which of the following factor should not affect loan pricing: credit rating of sponsors;...
Ian's user avatar
  • 11
1 vote
1 answer
65 views

What does payments/credits section on an invoice represent

I have seen several invoices with a 'payments/credits' section in the invoice totals column. It was most often a negative value subtracting from the total invoice amount. I am from Croatia and the ...
Michael Munta's user avatar
0 votes
1 answer
198 views

Did a refund just give me a bonus to my credit score?

I check credit karma notifications and I got one that my credit score just went up 3 points. Funny because the only transaction I had this month so far was an accident. I was on a free trial ...
Doctor Reality's user avatar
2 votes
1 answer
167 views

How can Genisys afford to pay 4.07% APY on checking accounts?

They do say “Must enroll in eStatements and use your Genisys Debit Mastercard® at least ten times per month for purchases of $5.00 or more, excluding ATMs, to earn 4.07%APY.” And that ”Balances ...
Cotton Headed Ninnymuggins's user avatar
1 vote
2 answers
212 views

How will closing my credit card affect my credit?

When I was a teen, my mom opened a credit card with Capital One and added me as an authorized user. I used this credit card for pretty much everything, but when I went to get a loan for a home years ...
backcab's user avatar
  • 183
0 votes
2 answers
143 views

Can I use my brokerage accounts and trading as my job evidence?

I live in the US and have some brokerage accounts and I have income from trading online. I also don't have another job. Can I use my income and trading history when I want to apply for a loan or ...
user avatar
0 votes
1 answer
149 views

How does Credit Karma have access to my information

How does credit karma get access to my information? When I sign up and give them my personal details, whom do they get my credit info from (such as open credit cards, credit scores,etc.)?
rahs's user avatar
  • 353
23 votes
6 answers
13k views

Mom made me cosign a car with her because her credit is bad and now the account has gotten charged off

My mom made me co-sign a car with her when I was young because her credit was bad and she really needed a car. She stopped paying for the car and now it has been charged off. I am worried about not ...
concerned-young-adult's user avatar
2 votes
3 answers
240 views

I pay off my balances every month, never late, but my credit score is not going up-any advice?

I have never been late with a payment. Using my credit cards mthly and paying off the balances every month. However, my score has not gone up in more than two years. I am over forty and own a home.
Aatreyee Eitland's user avatar
0 votes
4 answers
346 views

Is the 30% of credit rule per month?

I have heard that it is best for your credit to use under 30% of the credit available to you. Does this mean per month or at a time? The difference: A. Per month = For a $2,500 credit limit in total ...
Burt's user avatar
  • 103
1 vote
2 answers
888 views

Wrong last name on my credit card

I just ordered a Credit card and it has my former last name on it instead of my new last name. Can I still use it or do I have to get a new one?
sara L keller's user avatar
1 vote
1 answer
77 views

Investment with Valuation and Credit Line with 10% Equity

Before I ask my question, I would like to tell that I am not from a Business background and therefore this might sound like a stupid question to most. Recently, I watched a film based on Steve Jobs ...
Abdul Jabbar's user avatar
1 vote
3 answers
199 views

Which is worse for credit score: Bank closure for inactivity, or consumer closure, of a credit card?

Even if a zero-balance credit card is not used, the account age and available credit limit help a person's credit score. If the person decides they no longer wish to use the card (e.g. due to a ...
WBT's user avatar
  • 2,905
-1 votes
2 answers
242 views

AMEX made my dad wait 77 minutes to approve his credit card purchase [closed]

I would like to help out my dad. I apologize since I have no idea about credit cards. So my dad has lots of money, no financial problems whatsoever. He has an AMEX credit card with no pre-set spending ...
Jamie David's user avatar
1 vote
2 answers
256 views

Can a retailer charge me sales tax after being charged?

I made a large online purchase at a large retailer and I noticed sales tax was not charged when checking out. When I checked my email confirmation, tax also said $0. A few hours later, their customer ...
Rachel's user avatar
  • 11
13 votes
8 answers
5k views

How badly will my credit score be affected if I don't pay back a small margin debt?

I recently started trading stocks and was trading on ameritrade. I went in with just a little money to play around with and try and learn about it, but I forgot to turn off margin trading apparently. ...
Chris's user avatar
  • 131
-1 votes
2 answers
526 views

What formula would I use to calculate the percent of an APR if I knew the payment, principal, and interest?

I'm writing a blog article about potential scenarios in which I might lend someone money and explain how interests work. In my example, I am lending someone $400 and agreed to pay back $100. With no ...
HeavenlyHarmony's user avatar
3 votes
0 answers
79 views

Best possible outcome from paying a charged-off account

I had an auto loan from 2011. All but about 1,800 USD was paid off. Various financial challenges and a dose of me sticking my head firmly in the sand led to the account being charged off. I handled ...
Andrew's user avatar
  • 131

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