Skip to main content

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.

Filter by
Sorted by
Tagged with
0 votes
3 answers
527 views

Shopping for a car resulted in many hard inquiries within a short time frame. How to fix?

I was shopping around for a car, and in the process I was shopping for car loans. I finally bought a car within a couple weeks, but it resulted in many hard inquiries on my credit report (at least for ...
trusktr's user avatar
  • 155
1 vote
2 answers
213 views

Questions about my credit score and how my debt/payments affect it

I've been out of college for a couple years and i'm quickly paying off my student loans. I have some loans and other bills I pay every month. I'll provide as many details as I can in order to get as ...
cet51's user avatar
  • 125
0 votes
2 answers
53 views

When I shop for a direct lender, will the credit checks that they may do be bad for my credit rating? [duplicate]

Is it bad for my credit rating each time a possible lender does a credit check on me? I need to shop for a direct lender in order to get the best rate for a first mortgage on a property I want to buy,...
Doug Null's user avatar
  • 676
0 votes
1 answer
256 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.
a10ciod's user avatar
  • 119
4 votes
1 answer
361 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. ...
Nicholas's user avatar
  • 2,871
1 vote
1 answer
106 views

Will it adversely affect my credit score if I put off on buying a home?

Recently, my wife and I have been looking into buying a home - I have very good credit, only a small number of outstanding debts ($7,000 car loan, $1300/mo rent, and credit cards I pay off every month)...
Zibbobz's user avatar
  • 4,374
2 votes
1 answer
140 views

Closed credit card from compromise hurt credit score

My credit card was compromised, and the only reason I had the credit card was to improve my credit score. I chose to close the account (since someone was able to use it), but I forgot how ...
Jeremy Trpka's user avatar
8 votes
2 answers
313 views

Who actually decides whether a credit check is soft or hard?

Many web sites explain the different effects of hard and soft credit inquiries, but none of them actually explain how the process works, so they're not useful for figuring out how borderline cases are ...
tparker's user avatar
  • 848
0 votes
1 answer
179 views

Does closing BOA Savings account hurt my credit score?

I have following accounts at BOA. a Savings Account a Checking Account (where my salary is crediting every 15 days) a Visa Credit Card a MasterCard Credit Card Lately I found that I am not using my ...
Sasidhar Vanga's user avatar
5 votes
1 answer
381 views

Can my neighbours affect my credit report and/or credit score?

My wife and I live in a single building (in London, England) which contains three flats/apartments. We rent our flat privately (private tenants, renting from a private landlord) and the other two ...
SnookerFan's user avatar
44 votes
5 answers
15k views

Going house hunting next week and my credit score just dropped by 100+ points

My wife and I (usually) have excellent credit. TransUninion had me at 790 and other agencies well into the 800s. Our lenders have already prequalified us for our home, and sent the ratings they got ...
MrDuk's user avatar
  • 1,371
4 votes
2 answers
238 views

Credit Union Merged Credit Card transferred to new bank Credit Score Drops 30 points

I live in the USA. I was a member of a small credit union which has merged with a much larger one. I kept a credit card with the small credit union because my interest rate was only 5.75% When the ...
MCP_infiltrator's user avatar
2 votes
3 answers
356 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 ...
red888's user avatar
  • 133
1 vote
1 answer
118 views

Affect on credit score if I apply for a card just to get a one time discount

I currently have decent credit, but not exceptional due to limited use of credit. I have two credit cards, one used regularly (and payed off every month) and a backup credit card. I've run into ...
dsollen's user avatar
  • 1,196
2 votes
2 answers
390 views

Why has my credit score stopped moving?

I receive monthly credit card scores from my bank. After trending upwards, both scores have stopped moving. The bank score is a nice round number with 2 zeros and hasn't changed in 3 months. It seems ...
chessofnerd's user avatar
3 votes
5 answers
2k views

What should I do when my friend doesn't pay back a loan I gave him? [closed]

I lent money to my friend for his wedding through my credit card. It was around $5,000. He said that he would pay me back within 1 month. It has been almost 5 months. Every time on his salary date I ...
Ali Khan's user avatar
3 votes
1 answer
183 views

If I pay my car loan off will my credit drop?

I've been thinking lately about paying my car off. I owe less than 6k. The payment each month does not really hurt me and I was going to just keep it for on time payments to help my credit and my ...
Angelus's user avatar
  • 31
0 votes
1 answer
179 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) ...
simonw16's user avatar
  • 101
0 votes
1 answer
111 views

Investing loan amount taken primarily to increase credit rating?

I had been facing very big issue of bad credit score of mine. I was not able take any credit cards and I was constantly kept applying for new credit from different sources. It took my credit score ...
Talk is Cheap Show me Code's user avatar
3 votes
1 answer
233 views

Puzzled by (a) credit score and (b) abrupt jump in credit score

About six months ago, my credit score abruptly jumped from the low 300s to the high 700s. The only two things that changed in my financial life were: (1) I became listed as a joint trustee on my ...
ab2's user avatar
  • 1,900
18 votes
6 answers
21k views

What does it take to get a 0 credit score

I'm not sure if a 0 credit score is the same thing as having 'no credit history'. I'm wondering how long it would take a credit score to drop to 0 (something Dave Ramsey says happens eventually after ...
Erica Grant's user avatar
5 votes
2 answers
763 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 ...
Bryce's user avatar
  • 2,560
0 votes
3 answers
174 views

Auto loan finance for building credit

I recently moved to the USA and I have no credit history. I want to buy a car that costs $18,300. My down payment will be $12,000 and I will finance the balance at 15.4% (extremely high!) over 36 ...
ilansch's user avatar
  • 101
2 votes
1 answer
3k 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 ...
Justin's user avatar
  • 23
3 votes
1 answer
109 views

UK app that counts rent payments towards credit score [closed]

I live in the UK. A few months ago, I saw in the tube an add for a app that allowed users to count their rent payments towards their credit scores. I wasn't interested at that time, but now I want ...
mayk93's user avatar
  • 131
2 votes
1 answer
883 views

How can I save myself after falling for an alarm scam?

Last week my wife let in an alarm salesman that she had spoken to earlier in the day and asked me to sit down with him. I have no internet at home so he showed me a set of good reviews on his phone ...
LordMartlet's user avatar
0 votes
2 answers
838 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 ...
Cinematic Man's user avatar
62 votes
6 answers
13k views

Wife is cosigned on a credit card with her parents — real assets are also shared. How to protect my credit?

A few years ago I got a credit monitoring app and started watching my credit score (high 700s). It's been climbing slowly and sends me an alert when I apply for new credit — like when I bought a car ...
anonibon's user avatar
  • 541
5 votes
3 answers
523 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. ...
Missyinvisible's user avatar
3 votes
2 answers
529 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 ...
WGroleau's user avatar
  • 1,031
1 vote
1 answer
193 views

I have a very good credit score from my previous country. Can I use that in the US?

I have a lot of question, which I have googled but did not really found a good answer that fit with my situation. So I have moved to the US as a student. I (think)have a high score credit back in my ...
TeeTee's user avatar
  • 11
1 vote
2 answers
210 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 "...
sondra.kinsey's user avatar
26 votes
9 answers
16k views

Is it legal to invent "artificial" bills to build credit?

EDIT: This question was based on a misunderstanding of how credit is built. However, the concept of moving money on a credit card without spending anything still has other potential benefits (such as ...
Lord Farquaad's user avatar
0 votes
1 answer
166 views

Negative balance effect credit score

I have an saving account in Oriental Bank. I am not using this account for last 1.5 year. Currently the balance is negative. I am staying in Bihar since last two year. It is not possible to go ...
Sanjeev Jha's user avatar
0 votes
1 answer
214 views

Closing a New Credit Card for Credit Score

I have 4 credit cards, and 3 of them are about 4 years old and 1 of them is less than a year old. I noticed that my FICO-8 went down by around 20 points since I got the new card and it hasn't gone up ...
blueseal's user avatar
  • 101
2 votes
1 answer
417 views

My credit limit was raised without my asking, will this affect my credit rating?

I am a resident of Scotland, and have a credit card issued by my bank in my name only. I recently received a letter stating: Your credit limit is increasing We have good news for you. We wanted to ...
bertieb's user avatar
  • 687
0 votes
4 answers
280 views

Will this affect my credit

If I pay my credit card minimum balance a day before the due date but then use it again that day , does that affect my credit ?
Julie's user avatar
  • 1
1 vote
1 answer
135 views

Understanding credit score

Probably a fairly generic question, but here it is. First, a very small background: I recently graduated in Europe and found a job in the US. I got the visa and everything, so now I finally moved ...
powder's user avatar
  • 111
1 vote
1 answer
59 views

Low percent vs moderate percent credit card limit effect on credit score

I was wondering if spending more (50-89%) or less (1-25%) of credit limit increases or decreases credit score depending on the amount spent on the credit card. I have recently turned 18 and became ...
Slightly Higher Average User's user avatar
0 votes
2 answers
98 views

Can credit score be sponsored?

I vaguely know that a good credit score is very important in the US (we do not have such concept in France for individuals). I was wondering whether such credit score can be boosted through some kind ...
WoJ's user avatar
  • 1,210
3 votes
2 answers
210 views

What is the most efficient way to dispute an invalid collection on a credit report?

I had a surgery and a ton of medical issues. All but one thing went through insurance. The healthcare provider for that one thing went straight to collections. I contacted them, and my insurance ...
user441767's user avatar
2 votes
2 answers
360 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 ...
Bennett's user avatar
  • 513
0 votes
2 answers
508 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 ...
hotmeatballsoup's user avatar
1 vote
1 answer
212 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 ...
Jalapeno's user avatar
  • 999
1 vote
2 answers
254 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 ...
jamesson's user avatar
  • 111
5 votes
1 answer
2k views

Can I remove a cosigner from a car loan? Will it affect my credit?

I will be moving from NY to California for a job that starts 3 months from now. I flew to California to finance a car from a dealership, but since I had not found an apartment yet, I had no california ...
Calicar's user avatar
  • 51
0 votes
1 answer
887 views

Roughly how long should I ideally wait to apply for a large car loan after increasing my credit card limit?

Back in March, I elected to increase my existing line of credit limit up to $2,000, which came with a reduction in interest (from 12.5% to 8.5%). Now, I'm in line to buy a car that I really want, but ...
Makoto's user avatar
  • 123
-1 votes
1 answer
3k 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?
kelly's user avatar
  • 1
2 votes
1 answer
205 views

How long should someone wait to apply for a secured credit card after having been deliquent on a loan payment?

Someone failed to make payments on a college loan for an extensive period (8-10 months). Their credit score has, as a result, dropped to 550-575. They have since paid off their overdue balance and ...
David Gay's user avatar
  • 173
1 vote
3 answers
272 views

How to know which credit report / score will be consulted?

Question When you apply for a loan or a credit card, in the US, one credit report is pulled from one of the three "major" company: Equifax, Transunion, or Experian. Is there a way to tell which one ...
Clément's user avatar
  • 113

1
3 4
5
6 7
18