Questions tagged [credit-history]

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

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49 votes
12 answers
10k views

Is it ever a good idea to close credit cards?

I have a bunch of credit cards with no balance, while others have fairly high balances. I'd like to close the 0 balance cards, but I know that will reduce my overall balance and hurt my credit rating, ...
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  • 625
8 votes
3 answers
4k views

How bad would maxing out my credit card once a year affect my score

I just got approved for a $1500 cash secured credit card from Wells Fargo. This means I have no credit history whatsoever, and am going to use this card to establish one. With fall semester at ...
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20 votes
3 answers
3k views

Should I really pay off my entire credit card balance each month or should I maintain some balance?

I've heard two conflicting things: One is that you should pay your entire credit every month, and the other that you should maintain roughly %30, %50 (it varies by who you ask) of your available ...
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  • 411
66 votes
11 answers
32k views

Should I open a credit card when I turn 18 just to start a credit score?

I spend about $20-30 a week on my debit card, with periodic $200-300 purchases every few months. I've thought about getting a credit card the moment I turn 18 and using it to buy everything, then ...
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  • 825
21 votes
4 answers
7k views

How to recover from credit score hit from paying off loan?

My credit score recently took a dip after I paid off my student loans recently. When I look at the credit report via mint it shows a "not bad" rating for number of accounts opened. ("not bad" is the ...
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23 votes
3 answers
704 views

Global credit record: Would my good credit history apply internationally?

Does my credit record apply internationally? For example, if I have a good credit record in Australia, with a car / house loan and a credit card or two, can my good credit rating be seen by banks and ...
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  • 353
15 votes
2 answers
750 views

Should I keep recently opened Credit Cards that I don't use?

After investigating these questions (1 and 2) I am still in doubt in what to do with my current situation. I have many credit cards because over the years I have been given better deals on them. So I ...
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  • 5,815
9 votes
5 answers
7k views

Ways to establish credit history for international student

I am a student on a F1 Visa in the US. Being a non US Citizen and on a student Visa, I am unauthorized to work off campus, and so I am restricted to work upto 20 hours a week on a hourly wage and ...
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8 votes
2 answers
1k views

Will paying off an old $8 collection hurt my credit?

Let me explain a little more. I was the victim of a car accident and medical bills went through the roof. I had about $16k racked up, then my settlement finally kicked in 3 years later and paid it all ...
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12 votes
3 answers
5k views

Is it common practice for credit card company to demand to see your income tax forms?

I recently applied for a credit card that my wife has. I was responding to a great offer that I believe this credit card company sent me based on my good credit score and so on. When I applied online, ...
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  • 355
8 votes
3 answers
3k views

How to build a U.S. credit history as a worker on a visa?

I am 30 and looking serious at moving to the United States to take a lucrative (career wise) job. Assuming I get the job offer and accept it, how can I go about getting credit in the US? I am from ...
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6 votes
1 answer
4k views

My credit score has been erased. What happened?

In 2006, I bought my first car with a loan. In 2008, facing a number of emergencies, I took out a credit card and maxed it out. I worked hard not to miss a single payment on either and to pay off the ...
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5 votes
4 answers
1k views

Will paying off my car early hinder my ability to build credit?

I don't have much credit because I am young but I did recently purchase a car which I am paying 9% on. This seems ridiculously high to me and I was thinking about pulling out some of my stocks to pay ...
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15 votes
8 answers
1k views

Relocated to USA. How to get credit card without existing credit history / score?

I recently relocated to USA and have no Credit Score. Is Secure Credit Card is the only option for me to start building my credit score? Also please recommend which other credit cards are available ...
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  • 253
5 votes
1 answer
7k views

Credit freezes aren't available in Canada. What options are available to protect against identity theft?

It looks like credit freezes aren't possible in Canada. Despite this, there is some evidence that identity theft is a bona fide problem in Canada: RCMP states that in 2009 there were 11,095 identity ...
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  • 421
7 votes
2 answers
304 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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  • 1,291
20 votes
4 answers
7k views

What can I realistically do to raise my credit score?

I have a crappy credit score. My situation in a nutshell: In the divorce, the ex got the home, which was then foreclosed on. My name was still on the mortgage. That was in 2009 or so. I attempted ...
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  • 3,767
12 votes
1 answer
777 views

Myth, or not: If using a secured card to build credit, paying off in part each month has more benefit than paying in full?

Does paying off a secured credit card in full each month not allow me to build a credit history? I'm asking because reading about regular credit cards indicates that paying in full helps build a good ...
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1 vote
1 answer
200 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 ...
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  • 253
10 votes
1 answer
449 views

Might it make sense not to look into debt that is in collections?

I happened to glance at my credit report and one of the agencies shows that I have a debt of just over $100 in collections. It appears to be from an emergency room in a previous state (I moved about 6 ...
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  • 14.9k
10 votes
2 answers
162 views

How to approach eliminating a record in my credit history that is hurting my score

I have a record in my credit history that shows a delinquency from 4/2005 that was paid off but was also marked as a "charge off." As of January 2011, this record no longer shows up in my file for ...
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9 votes
3 answers
5k views

Why do lenders do a hard pull when they can do a soft pull instead or are these different reports?

After I was done with my month long credit card applications to establish a credit history, I read and discussed more on how to build a good credit history. During my conversations, I spoke with a ...
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9 votes
3 answers
4k views

Why was my credit card just cancelled?

I have had a credit card with Bank of America for many years. I also have a long-standing card with another bank, a Sears card, and a newer card (< 2 years old), for a total of 4 credit card ...
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  • 965
6 votes
1 answer
18k views

Can a company run a credit check on me without my permission?

I understand that sometimes when dealing with companies over the phone or over the counter, they need to run a credit check. I would have thought that as a courtesy they would at least tell you this ...
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  • 403
6 votes
3 answers
961 views

Is it a good idea to get a mortgage when buying a house, for credit reasons?

I'm thinking about buying my first house, and I'm wondering whether I should get a mortgage from a bank or not. This is mostly because I've heard that getting a mortgage is critical part of building ...
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4 votes
4 answers
11k views

Should I pay off my car loan within first year or wait until at least one year has passed?

I have the capability of paying off my car loan of around $15,000 by end of June next year, however this loan started this month. I have heard loans/accounts kept open for more than a year are on ...
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4 votes
2 answers
299 views

Who checks my credit history when I apply for a credit card?

I'm guessing this may be how it works: Card company > Some Company > Me I can get a credit card from my bank or some company. Do those guys review my history? Or does the card company? Perhaps "Some ...
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  • 357
4 votes
4 answers
550 views

Is there any reason to turn down a pre-qualified credit card offer?

I am frequently assailed by unsolicited letters from various credit card companies informing me that I am pre-qualified for credit cards with various goodies such as no annual fee or 0% APR for around ...
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4 votes
3 answers
649 views

What proactive measures can be taken before or when a lender closes your credit card?

A blogger and contributor here recommended Digital Federal Credit Union (DCU) as a possible lender in my search for cash secured credit cards to establish my credit history, and I got approved for one ...
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2 votes
1 answer
924 views

Paying off all your credit cards but one before statement generation date : helpful?

Some people advocate paying off all your credit cards but one before statement generation date, and maintain a utilization of no more than 9% on that card Here is my understanding and information I ...
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2 votes
2 answers
481 views

Opening 5 credit cards at once with no history to ruin, is it a good idea?

I have no credit. I'm a student, who has never had a credit card short of a secured card I had a few years ago that I was poorly advised to close, and now I'm trying to build credit. Conventional ...
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2 votes
3 answers
414 views

Looking to get my first credit card

I have no prior credit history. Does anyone know of a credit card company that doesn't require much (if any) deposit money down and has a high approval rate for first time credit card holders?
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1 vote
2 answers
256 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 ...
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  • 11
1 vote
2 answers
194 views

How to improve the late payment score on credit report

I have a question regarding payment history. I am trying to help a friend improve his credit score. My biggest challenge is that my friend has more than 20% in late payments. My question is how to ...
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0 votes
3 answers
160 views

Is it better to wait until one credit card shows up on my report before applying for any others?

How should you schedule applying for new credit cards if your goal is to not alarm prospective creditors while getting high initial credit limits? For example if approved for a new credit card should ...
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  • 11