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Questions tagged [credit-score]

A credit score is a weighted number computed to determine your credit worthiness, and is relevant when arranging for credit or a loan. This tag is to be used for questions related to understanding how things would impact your credit score. Related tags are credit-history, credit-rating and credit-report.

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How much data does Zelle collect?

I know Early Warning Services LLC sees all payments made through Zelle. But do they also collect data on other transactions and accounts with your bank? What are all the privacy/security implications, ...
Cam's user avatar
  • 9
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1 answer
91 views

How much does having an installment loan in your credit history matter vs simply having a good credit score?

Let's say you want to buy a starter home (at a reasonable budget for your income level) and have an excellent credit score of ~800, but you have zero history of taking an installment loan (student, ...
Donuts's user avatar
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5 votes
1 answer
353 views

Will paying off a defaulted loan from 20 years ago affect my credit?

I defaulted on a loan 20+ years ago, which has since fallen off my credit report. My credit score today is excellent. If I were to pay the balance being asked for by the current debt owner/collector (...
user11122233341's user avatar
0 votes
1 answer
120 views

How to maintain high credit score while opening too many credit cards?

Multiple credit cards have new user promo offers ($100 off first payment or similar). I wish to take full advantage of these offers, and open about 4 new credit cards within the next year. However, I ...
whoisit's user avatar
  • 103
2 votes
2 answers
310 views

Co-signer or Buyer that is the question [duplicate]

My stepmother asked me to co-sign on a brand new car. I did it because I felt obligated. When we got to the dealership they said her credit was so messed up to get the car I had to be the primary and ...
Tatiana Loving's user avatar
4 votes
1 answer
397 views

How can I open a student bank account when I am getting rejected for not having enough credit history?

I am presently a university student in the United Kingdom. I attempted to establish a student bank account through HSBC, but my application was declined due to a poor credit score. After some online ...
top ROOKIE's user avatar
1 vote
1 answer
124 views

Building credit history later in life

I am trying to build credit so in the future I could get a loan if needed probably a car loan. I’m 39 years old.I have never had a mortgage,credit card, or any type of loan in my name just household ...
Danyelle P.'s user avatar
0 votes
1 answer
48 views

Impact of payment plan loans on credit score

Many online payment networks now allow instant installment plans for small retail purchases. Normally, the purchase would be a one time payment. These products transparently convert it to a payment ...
gomennathan's user avatar
0 votes
2 answers
104 views

Credit score drop

I went into Regions Bank and opened a c.d. , a small one. After leaving I checked my credit score and it had fell by 75 points. I have been working on it for about 3 years and had it up to 725. This ...
Tonytheknife's user avatar
0 votes
1 answer
765 views

How does paying off pending credit card charges effect credit score?

I pay off my credit cards online almost daily. Usually while charges are still pending so my account almost always shows a zero balance. I have a great credit score but I'd love to reach the 850 mark. ...
PETE SWINGLINE's user avatar
0 votes
2 answers
273 views

Improving my credit score by getting my own card vs being added as an authorized user on a better card

Does getting added as an authorized user on my relative's higher tier credit card (with an annual fee and better benefits) have a different impact on my credit score when compared to getting my own ...
rahul Saha's user avatar
0 votes
2 answers
185 views

How to obtain FICO score (not credit report, not any other score)

I'd like to obtain my FICO score. By what means can I obtain that? I am willing to consider methods that require me to pay for it. I am aware that I can use CreditKarma to look at TransUnion and ...
Robert Dodier's user avatar
16 votes
4 answers
8k views

Why am I being declined for credit card offers?

I tried applying for a new credit card, as the only one I had strangely jumped from 2% to 35% APR unexpectedly, without any reason I could tell, and customer service was unhelpful. I plan to cut the ...
Village's user avatar
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10 votes
3 answers
6k views

How do I raise my credit score from 720 to 800?

My FICO 8 score is 721 and my VantageScore 3.0 is 735. I have opened 2 accounts in the past 2 years: An AMEX Gold card in October 2022 $30k loan in May 2022 to purchase a vehicle I also have a 30 ...
will's user avatar
  • 203
1 vote
1 answer
121 views

Why does the debt-to-income ratio not affect credit?

Lenders obviously care about the debt-to-income ratio, since it can influence whether one gets a mortgage or other types of loans. This makes sense: taking on new credit is more of a risk for people ...
Obie 2.0's user avatar
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4 votes
0 answers
95 views

Consequences of small bank debt in EU as citizen of another country

I have a bank account in France that I created when I lived there about 10-8 years ago. A year ago this account started charging a monthly fee that didn't exist before, and then I started trying to ...
gsmafra's user avatar
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1 answer
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Salary doubled on credit app - what could happen?

I recently applied for credit for a loan for a solar system. I submitted the form on the solar companies website. They sent it to some loan company who sent me their credit application doc to sign ...
Hannover Fist's user avatar
1 vote
1 answer
166 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 ...
Julius Hamilton's user avatar
2 votes
1 answer
176 views

Best Billing Date selection for multiple Credit card utilization

I have 2 credit cards. This card has a billing date of 20th of a month and payment date of 7/8th of month. What is the ideal billing date for the second credit card? Should I keep the billing dates ...
fatalcoder524's user avatar
0 votes
1 answer
568 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 ...
neubert's user avatar
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1 vote
2 answers
75 views

What is effect of full settlement on credit report

Suppose one has delinquency on credit cards that show R9 on the credit report. If he settles the credit card company with full payment, the credit report will show the status of settlement of full ...
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0 votes
1 answer
164 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 ...
Christa Lodico's user avatar
1 vote
1 answer
742 views

Is it possible to add a child to a UK credit card?

Many parties suggest that parents should add their baby child to their credit card so that the child can build a credit score as soon as possible. Unfortunately, these all seem to be USA sources, and ...
James Geddes's user avatar
0 votes
1 answer
252 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 ...
Liyak 's user avatar
9 votes
2 answers
3k views

Does a late mortgage payments hurt credit score if it was made within the grace period?

I'm a first time homeowner (USA) and just started making mortgage payments. My loan was sold to a different servicer within the first month of the loan, so I only made one payment to the first ...
MikeyC's user avatar
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15 votes
1 answer
4k views

Is there a strong correlation between credit score and mortgage rate in the US?

This is probably a naive question, but I've heard many conflicting answers so I figured it'd be worth asking here. Let's say I'm looking to buy a house in the US (e.g. worth $500k), and I'm getting a ...
PeaBrane's user avatar
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1 vote
1 answer
86 views

Do the HDFC credit card reward points calculated on billed amount or the amount spent using the card

I read that paying credit card bills before bill generation can help regulate credit utilization ratio and thereby improving credit score. But are the reward points computed on the total unpaid amount ...
Nagabhushan S N's user avatar
-2 votes
1 answer
124 views

How credit score is improved after debts are paid off

Here is a scenario for the credit score improvement I am interested in. Suppose a person can not pay the credit card debts for over 6 months. This is very bad for his credit score because unpaid cards ...
user avatar
0 votes
1 answer
79 views

How much does high credit utilization impact my credit score?

Prior information of the credit card in question: Maximum Available Credit limit: र100,000 Available Credit limit: र30,000 --- (Virtually set by me using bank's portal based on my spending habits on ...
atb00ker's user avatar
  • 101
0 votes
1 answer
148 views

Which is worse for credit score: requesting the closure of a retail card or letting it close due to inactivity?

I applied and was approved for a TD Retail Card Services store credit card about two weeks ago but ultimately did not use it for my purchase. The card is currently sitting at $0 balance, and I do not ...
vafotok883's user avatar
1 vote
3 answers
571 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 ...
use80085's user avatar
1 vote
1 answer
154 views

UK: Building credit failed until now

I moved to the UK a bit more than a year ago. Until now, I have been using my payment cards and bank accounts I brought from abroad which a) worked fine and b) I did not have a lot of choice as I was ...
TorstenS's user avatar
  • 200
0 votes
3 answers
419 views

I didn't use my credit card for one month and my credit score dropped 22 points. Will it be fixed in the next snapshot?

I only use my credit card to buy gas. I couldn't use it last month because the gas station's credit card system wasn't working. My FICO Score 9 dropped from 842 to 820 in this month's snapshot. I ...
Timmy's user avatar
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-3 votes
1 answer
159 views

Is there a way to have your credit score respect 0% APR? [closed]

I handle my credit like this: Pay for everything possible with 0% APR accounts. Put at least an identical amount into an interest-bearing account. Pay off the card when I want to maximize my credit ...
Jessy's user avatar
  • 111
-1 votes
2 answers
271 views

What will happen to a tiny debt if I ignore it?

I received a medical bill of $150.00 and I made a payment of $149.99 (just as an experiment) so technically I own the clinic $0.01. I am curious what will happen to this tiny debt. It will cost them ...
Zuriel's user avatar
  • 1,571
0 votes
1 answer
363 views

FICO Classic (04) Credit Score calculation

A mortgage lender has pulled a FICO Classic (04) TransUnion score and it's a 100 points less than any other model I was able to track down (Experian-Vantage, Equifax, etc). Experian tells me the ...
ono's user avatar
  • 121
3 votes
1 answer
245 views

Can debt collections show up on my credit report if the collectors haven't contacted me first?

Can debt collectors report to credit bureaus when they haven't contacted me yet?
JobHunter69's user avatar
1 vote
2 answers
90 views

How does a balance on my credit card affect my credit score?

How my score will change if I go from having no balance to one that uses less than 20% of my available credit? Will it be a drop of just a few points or 20+?
JTP - Apologise to Monica's user avatar
1 vote
1 answer
81 views

Are there publicly available data to demonstrate the predictive power of credit scores?

Credit reference agencies assign and distribute a credit score for individuals based on their financial behavior. The implication is that this score has predictive power, such that an individual with ...
User65535's user avatar
  • 440
1 vote
2 answers
297 views

My credit utilization went down from 19% to 2%. Why did my credit score go down?

According to multiple different credit score trackers, between last month and this month, the only change on my credit report was a significant decrease in my credit utilization (from 19% to 2%), ...
Ed Marty's user avatar
  • 177
10 votes
5 answers
6k views

Does paying off all credit accounts worsen your score?

I am 60. I have a mortgage that's nearly paid off. I have also paid off all my cards, and my oldest cards were closed from lack of utilization. In order to protect my age of credit, do I need to not ...
D J Sims's user avatar
2 votes
2 answers
4k views

I paid off a car loan early, but it was reported on my credit score as "closed" bringing it down. Shouldn't paying off that debt increase my score?

I paid on it for at least 3 to 4 years. It was reported as a "closed account" instead of paid off in good standing. I called the creditor and customer service ultimately send me a letter ...
teacher T's user avatar
13 votes
3 answers
3k views

What happens to your credit score on prolonged absences from the US?

What happens to your personal credit score when you live overseas for over a decade while only maintaining a checking account and a credit card(used only on the short trips back to US), but no ...
Vectorizer's user avatar
1 vote
1 answer
192 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. ...
Timothy Fisher's user avatar
1 vote
1 answer
137 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 ...
JoseR's user avatar
  • 11
1 vote
1 answer
156 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 ...
ohmycredit's user avatar
0 votes
1 answer
182 views

Credit score lower after paying debts

Please can someone explain me why does even lower my credit score: Increase in my credit limit lower my balance on the same credit card from ~$400 to ~$1 ( 1%) Check the image below. Thanks in ...
hubert's user avatar
  • 101
3 votes
4 answers
236 views

What's the minimum utilisation rate on a credit card that lets you build credit?

I don't need credit, but I want to keep my credit score as high as possible, for when I might want a mortgage or come across a credit card with nice rewards. I got a credit card with a borrowing limit ...
Mike's user avatar
  • 165
1 vote
2 answers
141 views

Will using 0% intro APR crashes my credit score?

If I get a new credit card with $5000 credit line and 0% intro APR for the first year, and use all the credit limit at the beginning, will this drops my credit score? If I pay back this money like $...
user avatar
0 votes
1 answer
71 views

Timing the payment of a credit card to maintain a maximized credit score [duplicate]

I monitor my credit score using Credit Karma and the only item that impacts it from month to month is my credit card utilization percentage. I pay my credit card in full every month. The credit card ...
Guy's user avatar
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