for questions that relate to all forms of credit.
0
votes
3answers
130 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
244 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
376 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
68k 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
267 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
131 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
46 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
173 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
1k 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
22 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
20 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
233 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
1answer
252 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
167 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
278 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
64 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
157 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
67 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
78 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
275 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
240 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
426 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
98 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
149 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
227 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
120 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
263 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
223 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
59 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
190 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 ...
2
votes
7answers
2k views
Credit score goes down substantially after paying off student loan
My credit score was about 800, according to my bank, which gives it to me for free on their website. I still had several years on my student loan, but I paid it off a few months ago. A couple of ...
6
votes
1answer
2k views
Can I get cashback for buying gift cards on Amazon?
I have an Amazon Prime Rewards Visa Signature Card that gets me 5% cashback on purchases made through Amazon.
Is it possible to reap that reward on gift card purchases?
31
votes
5answers
5k views
Preapproved for mortgage loan but won't tell me interest rates
First Time Home Buyer/Shopper
Spent about 30 minutes on the phone with Quicken Loans (Rocket Mortgage). I provided all of the expected information when running a credit check and painting a financial ...
3
votes
2answers
126 views
How do car dealerships benefit from $0 down bad credit car sales?
This might be a better fit on the economics SE, but having browsed both I feel the body of knowledge here is more applicable.
For as long as I've heard car ads on the radio or TV I feel like I've ...
2
votes
1answer
98 views
Replied to a Craigslist Spammer [closed]
So I did just about the dumbest thing today - I was looking for apartments on Craigslist (I’ve always stayed away but a friend of mine just got one from there) and reply to one ad with my email. They ...
4
votes
5answers
454 views
Ways to build credit for my child now
TLDR
What ways can I help my child to build their credit now?
EDIT 2
This edit is more details for those seriously curious why I am doing this (there have been a couple more notes on the question). ...
1
vote
1answer
91 views
Do credit card balance transfer offers dry up during economic downturns? (USA)
I have great credit and occasionally take advantage of low-fee, 0% interest balance transfers offers on existing or new credit cards, always reading the fine print and paying it off without paying a ...
8
votes
1answer
193 views
Old collection keeps resurfacing on my credit
[This question is very similar to Credit Report debt expiration limit: original creditor vs. Collection, but I'm solely concerned with the 7-year FCRA rule and my ability / legal right, or lack ...
26
votes
6answers
5k views
Transferring balances left over prepaid credit cards
How can one transfer small balances, leftovers, on prepaid credit cards?
I actually have 6 or 7 prepaid Visa or Mastercard cards left with balances between $1 and $4. I would like to get rid of them. ...
1
vote
1answer
119 views
Tax implications of virtual currency that cannot be exchanged for money
Backstory:
Over the past two years, I've been in an ongoing battle with a phone provider over a promotion they failed to honor in a reasonable amount of time. I had posted a few questions on the Law ...
0
votes
1answer
62 views
Approximation of equity value for company in default [closed]
I want to come up with an estimate for where the share price of a company may end up in a bankruptcy/event of default. What is a commonly-used rule of thumb for this? I know it will vary greatly from ...
-1
votes
1answer
192 views
Will I be turned down for a car loan?
To make a long story short I was working at the same place since I was 18 the past 3 years, and left on good terms two months ago and now I'm self employed. I'm making much more now than I was at my ...
4
votes
2answers
158 views
Could Paying Off Car Loans Early be Bad For Credit?
I am 22, I have had a couple of car loans that were both supposed to be 5 year loans. The first loan I started in November of 2015. I ended up paying off the loan in 9 months. After I paid it off, I ...
1
vote
4answers
214 views
Credit card closed. Effect on credit score (USA)
So this just happened to me recently and I'm worried. I've been between jobs and making heavy use of my single credit card recently. The card was set up by my bank to make automatic payments of the ...
4
votes
1answer
121 views
Will I carry a balance if I make an early payment?
I'm new to credit cards and wish to understand how the following scenario will play out.
Initial balance £0
September 6th to October 5th I run up £1000 on the card. Statement arrives for £1000 to ...
0
votes
2answers
248 views
Pay off Credit Card Debt
$60K credit card debt (sick child had to quit job)
Should I look at pulling this from my IRA, 401K, or a loan against the mortgage?
Income is too low to keep up payments and I am hoping to prevent ...
12
votes
3answers
774 views
Impact of RMD on credit worthiness
I was surprised after I retired when I could not get an increase in the credit limit on a credit card I'd held in good standing for many years. After I retired, the only income that qualified for a ...
0
votes
2answers
211 views
How to remove a late payment from my credit report?
My boyfriend had horrible credit, so we bought a living room set with my credit, but when we broke up he decided to stop paying on it (even though he kept the couches) and I didn't realize till 90 ...
5
votes
1answer
558 views
Why are there 3 credit bureaus?
I was wondering why there is a need for 3 different companies to monitor our credit in the united states. It seems to me like it triples the chance of something going wrong like Equifax's breach.
