Questions tagged [credit]
for questions that relate to all forms of credit.
515
questions
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?
- 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 ...
-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?
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 ...
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 ...
- 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. ...
- 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 ...
- 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 , ...
- 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 ...
- 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 ...
- 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 ...
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 ...
- 1
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 ...
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 ...
- 13
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 ...
- 11
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&...
- 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?
- 21
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....
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 ...
- 31
-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 ...
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?
...
- 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 ...
- 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)...
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?
- 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 ...
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 ...
- 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 ...
- 69
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.
...
- 145
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?
- 71
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 ...
- 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 ...
- 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 ...
- 13
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;...
- 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 ...
- 113
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 ...
- 304
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 ...
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 ...
- 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 ...
user109157
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.)?
- 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 ...
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.
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 ...
- 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?
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 ...
- 183
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 ...
- 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 ...
- 17
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 ...
- 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.
...
- 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 ...
- 282
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 ...
- 131