Questions tagged [credit-history]

for questions related to credit worthiness history, related tags credit-score, credit-rating and credit-report

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1
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3answers
212 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 ...
7
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8answers
7k views

Credit score and financing new car

Little bit about my situation- Bought a car with cash about 5 years ago, at the time it was a year old. That car is now a total loss and I’m receiving about 5k for it from my insurance. I’m now in ...
8
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1answer
206 views

Medical bill sent straight to collection agency

I was very surprised to receive a letter from a collection agency regarding a medical bill incurred during my wife's pregnancy last year. We never received any correspondence via mail, e-mail, or ...
3
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1answer
65 views

first credit card for H1B worker

I see a question Looking to get my first credit card but that seem to focus on students. I have a friend, who just came on H1B with zero credit history. The bank that has the regular account for him/...
2
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1answer
103 views

Does it make sense to open a lot of no-fee credit cards to reduce credit utilization?

Within a week of starting to my new job, I am planning to open a lot of (5, maybe more) no-fee credit cards in order to lower my credit utilization. I am not planning to use any of these new cards at ...
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1answer
95 views

Can I dispute an accidental submission of a credit application?

Can I dispute an accidental submission of a credit application? I left some information out, and a family member submitted a credit card application with out my consent. I was going to apply for a ...
5
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2answers
91 views

Does opening a checking account cause a hard credit pull?

I was going to open a new bank account, particularly the Wells Fargo promotion that puts $400 in your account if you meet some direct deposit requirements. I called and asked if they will do a "hard" ...
-1
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5answers
222 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 ...
7
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2answers
177 views

How to monitor for identity theft of minor child

It's important to monitor your own credit for signs of identity theft and for errors, because recovery can be time consuming and expensive. What steps should parents take to monitor their minor ...
1
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1answer
179 views

How can I understand historical changes in my credit score?

In October 2018, my wife's transunion credit score blipped down from a consistent 780 to a consistent 680. When I called to complain, Transunion noted that one of her credit cards seems to lag behind ...
6
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0answers
147 views

Credit Freeze for Minor Child

I was told that identity theft of a minor's credit is a very sought after goal for thieves. Is it true that credit agencies will offer lines of credit to individuals who are not yet 18? Is there any ...
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2answers
121 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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0answers
144 views

Single late mortgage payment is hurting me a lot

I'm from the US and I've recently applied for HELOC refinancing at a much lower rate (-2.00%), but underwriter has decided to deny the application due to a single late mortgage payment made in Jan ...
0
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2answers
97 views

How to appeal or remove the credit check taken on a Lender?

I was working with a car dealer to purchase a car. I realized that , Dealer ran the credit check and applied for a lender which i wasn't aware. I was hoping to get loan from LenderA. But dealer was ...
0
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1answer
140 views

Please help me increase my credit score. Take a look

Its been a journey paying off old debts and getting some creditors to wipe the slate clean. Below is my current situation. Any tips/recommendations on which way to go? 2 accounts are closed.
10
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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 ...
0
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1answer
94 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) ...
4
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1answer
225 views

Is it actually necessary to notify the big three USA credit reporting agencies, on a death?

Typical advice is to notify Experian (888-397-3742), Equifax (800-685-1111) and TransUnion (800-888-4213) on the death of an individual. However, is this really needed? The banks seem pretty good ...
2
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1answer
99 views

Is there a way to authorize release of credit check for a landlord, without revealing actual social security number?

I'm staring at an Apartment Owners Association of California form, for a rental application. I'm perfectly willing to have my credit checked, regarding a rental property. But I'm nervous about giving ...
2
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0answers
35 views

Should I remove a closed account in my credit history?

In my country, after a credit account (e.g. credit card, loan, mortgage) is closed, I have the option to request for this account to be removed from my credit history provided that there were no late ...
5
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2answers
497 views

How to build a credit history, for a 78 year old with none? Turned down for secured card

I helped a 78 year old neighbor apply for a secured credit card but he was turned down for having "no credit history". He has had no credit cards for 30-40 years, no credit accounts, nothing. On ...
1
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1answer
963 views

Does paying off my credit balance before the due date for a lower utilization rate hurt my score?

Last month I opened a cash rewards credit card with Bank of America. I am worried about my credit score, as my first closing date was the end of September. I paid off the balance that I used a ...
0
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2answers
484 views

Is it a reasonable request for $1,000 credit limit increase?

I currently have the Barclay Apple Rewards credit card which I received on 06/2018 with a $1,000 credit limit. I used it to finance the purchase of a $950 iPad for school. I was given 12 months to ...
4
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3answers
303 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. ...
3
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2answers
354 views

Effect on credit score of paying everything in one shot

Will paying everything at one shot help your credit score more then paying it quickly but over a few months?  To me, the former suggests a lottery winning or inheritance while the latter suggests ...
1
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2answers
172 views

Does the maximum amount ever owed affect credit score?

I have heard some people say that one of the factors lenders consider is the maximum amount that you have ever owed at one time. This appears on your credit report as the "highest balance" (1,2) or "...
1
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1answer
101 views

Is it a good idea to make a lump-sum payment to pay off a personal loan, even if I want to build credit history?

I have recently received some money that I could use to repay my personal loan, however I am not sure if doing that, is a better idea than continuing paying the loan normally, with instalments taken ...
2
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0answers
79 views

Is it possible to tell if someone is a U.S citizen or not just by looking at their credit report? [duplicate]

I am not sure if this question fits this stack exchange, but I could not any other that seemed more appropriate. Here it goes. Say person A is a U.S citizen with 3 years of credit history. Person B ...
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2answers
140 views

How do I find out what is the minimum credit rating for a grad school loan (or undergrad) without a cosigner?

I'm in the US, and I'm trying to make a decision about my educational strategy. I have a basic idea of what I can do for unsecured undergrad bank loan, and what credit rating I would need. How can I ...
1
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1answer
276 views

Dispute credit history hurt unknowingly by parents

This is question is about my friend's current situation that I found out about and now my dad and I are trying to help him. Background: My friend (22) had to go to the hospital (I believe he was 18+ ...
7
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3answers
307 views

What is the most financially appropriate approach to flipping and selling this home?

A few years ago, I purchased a home at $142,000 that has 12 bedrooms, 4 full bathrooms, a workroom, a basement with cement flooring, and an attic. In my divorce, it was awarded to me, as my ex was ...
0
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1answer
87 views

Understanding credit-score fluctuations [closed]

Recently an old credit account that I've had sitting idle was closed due to inactivity. I get credit-score updates from the issuer (who still maintains the credit account that I actually use), and ...
2
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4answers
221 views

No credit history. How to improve rating?

My partner and I are hoping to get a mortgage and buy a house in the next few years. A potential problem is that I have essentially no credit history and thus I have a low credit rating. (My partner ...
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1answer
170 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 ...
1
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3answers
102 views

Credit after a car loan

I just passed year two of my car loan and I'm planning to use my tax refund to pay it down. This will most likely shorten the loan a year. I'm thinking about how I can keep my credit score and such ...
4
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2answers
181 views

Student loans and credit score

A friend of mine hasn't been paying his student loans off in years now and obviously his credit has suffered. This friend is convinced that if he waits out 7 years of the loan it is taken off his ...
1
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0answers
50 views

Regarding leasing removal

I am living in shared accommodation. I am a student and not working yet so I don't have a SSN. But due to some reason I want to move out from apartment and my name is also on the lease, so I need all ...
25
votes
6answers
7k views

Should I, as a young person, get a credit card with “bad” conditions?

I'm a twenty year old in Russia, not enrolled in education, working full-time officially for a software development company. I'm earning a taxed steady income that can be considered decent, yet when I ...
3
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3answers
207 views

When / how is credit card interest charged? [duplicate]

I'm currently a student in college in the United States. I have a scholarship, and I work, so I'm in the fortunate position of earning more money than I'm spending. I have a credit card, but pretty ...
1
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0answers
45 views

Does business credit score transfer over when you incorporate from a sole proprietorship?

I have a newly registered sole-proprietorship in Canada that I am trying to build credit for. If later down the line I decide to incorporate my business, will the business credit score from my sole-...
2
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2answers
764 views

Authorized user on Lowe’s credit card (only credit history besides phone bill) how will this affect me when applying for an auto loan?

I’m 18 with a credit score of ~719. My grandfather added me on his Lowe’s credit card ($8,000 limit). He’s had this credit card for over two years and it shows up on my credit report as if I’ve had it ...
1
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1answer
88 views

Affect of Credit card Utilization rate on Credit scores (for Balance Transfer)

Scenario 1: Two Credit cards have 50% utilization rate each Interest savings are moderate Convenience factor - medium Scenario 2: One card has 90% utilization rate. Interest savings are higher as ...
1
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1answer
100 views

Does opening credit cards at different banks impact credit score?

I have been building credit with a card for about 6 years while I went through school. My credit score is decent so I'm looking into opening another card to take advantage of cash back deals and ...
0
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3answers
118 views

Best way to build a credit history for a graduate student in the US

I'm a first year graduate student in the US, and I'm considering several options to start building credit history. 1) Apply for a local credit union secured credit card (without annual fee) 2) Apply ...
2
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4answers
387 views

How to build up credit fast?

I live in the United States, am around 22 years of age, and recently graduated college with around $12,000 in student loans. I have had a full time job for around 4 months that pays around $55,000 a ...
1
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2answers
138 views

Credit Report debt expiration limit: original creditor vs. Collection

I am confused about how the statute of limitations with regards to debt applies to what is reported on an actual credit report from the 3 credit reporting agencies in the United States. Researching ...
2
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3answers
301 views

Is it ok to have multiple life time free credit cards?

I am currently having two life time free credit cards. These cards do not charge any annual fees. And another bank is offering me such credit card. I was thinking if I should go for it as its rare ...
6
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2answers
4k views

Credit freeze in UK

I've read a lot that in US people can protect themselves from identity theft by applying credit freeze on their credit history, is there similar option in UK?
1
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2answers
224 views

What is the potential downside to freezing additional credit reporting agencies?

I have had a credit freeze on the big 3 credit reporting agencies for many years, and now I'm hearing about a 4th, Innovis (since the latest Equifax breach). Is there a down-side to freezing Innovis ...
9
votes
1answer
147 views

Credit freeze and affect on perception as credit risk

In light of the Equifax hack I keep reading that people should apply a credit freeze on themselves at the 3 main bureaus. However, someone told me that their mortgage consultant said that placing a ...