Questions tagged [credit]
for questions that relate to all forms of credit.
1
vote
0answers
17 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
105 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
114 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
votes
1answer
306 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
633 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
505 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
vote
4answers
346 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
228 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
76 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 ...
0
votes
0answers
15 views
Form 1116 Part II column U does not calculate
Entered tax paid in foreign currency in column P, but form does not allow me to enter US dollar equivalent in column U. Supposedly this will be calculated automatically, but can't see how it could ...
1
vote
3answers
230 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
123 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,...
1
vote
1answer
145 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.
...
6
votes
2answers
407 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 it ...
0
votes
0answers
15 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
votes
1answer
79 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
votes
1answer
139 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
130 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
42 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
172 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
90 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 ...
6
votes
3answers
1k views
A woman on FB offering to pay my debts. Scam?
On thanksgiving day a woman 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 I ...
4
votes
0answers
176 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
183 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
91 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
196 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
228 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
105 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
232 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
68 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
150 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
287 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
583 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 ...
85
votes
18answers
73k 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 ...
3
votes
3answers
355 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
54 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
179 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 ...
4
votes
5answers
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 ...
2
votes
2answers
272 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
418 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
179 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
2k 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
68 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
165 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 ...
