Questions tagged [credit]

for questions that relate to all forms of credit.

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1
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1answer
35 views

What does payments/credits section on an invoice represent

I have seen several invoices with a 'payments/credits' section in the invoice totals column. It was most often a negative value subtracting from the total invoice amount. I am from Croatia and the ...
0
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1answer
186 views

Did a refund just give me a bonus to my credit score?

I check credit karma notifications and I got one that my credit score just went up 3 points. Funny because the only transaction I had this month so far was an accident. I was on a free trial ...
2
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1answer
135 views

How can Genisys afford to pay 4.07% APY on checking accounts?

They do say “Must enroll in eStatements and use your Genisys Debit Mastercard® at least ten times per month for purchases of $5.00 or more, excluding ATMs, to earn 4.07%APY.” And that ”Balances ...
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2answers
111 views

How will closing my credit card affect my credit?

When I was a teen, my mom opened a credit card with Capital One and added me as an authorized user. I used this credit card for pretty much everything, but when I went to get a loan for a home years ...
0
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2answers
135 views

Can I use my brokerage accounts and trading as my job evidence?

I live in the US and have some brokerage accounts and I have income from trading online. I also don't have another job. Can I use my income and trading history when I want to apply for a loan or ...
0
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1answer
125 views

How does Credit Karma have access to my information

How does credit karma get access to my information? When I sign up and give them my personal details, whom do they get my credit info from (such as open credit cards, credit scores,etc.)?
15
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1answer
610 views

How was someone able to open an account?

A while back I was surprised to see a collections account go onto my credit report for an unpaid amount of a few hundred dollars. I immediately believed it to be a mistake since I had never heard of ...
89
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18answers
98k 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 ...
7
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2answers
16k views

How long after new employment before applying for a new credit card?

I am a recent grad and new employee. I currently only have a $500 student Visa credit card with my current bank branch (2 years). I began my employment at the end of January (just over 2 months ago) ...
1
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3answers
168 views

Credit Card Approval

Is there a formula banks and other creditors use for new credit card approval? Other than credit score of course. For example for a business credit card I imagine it would be something considering ...
2
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1answer
284 views

When to apply for a new credit card?

I am a graduate student living in US. It is now 10 month since I have had a secure credit card from Bank of America with a $300 credit line and APR 20.24%. Recently, BOA increased my credit line to $...
23
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6answers
12k views

Mom made me cosign a car with her because her credit is bad and now the account has gotten charged off

My mom made me co-sign a car with her when I was young because her credit was bad and she really needed a car. She stopped paying for the car and now it has been charged off. I am worried about not ...
2
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2answers
231 views

What should I expect when applying for credit?

EDIT: It has been suggested that this question is a duplicate of Personal loan while unemployed?. In fact it is not a duplicate of that question, because I'm not asking about getting a personal loan ...
2
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3answers
225 views

I pay off my balances every month, never late, but my credit score is not going up-any advice?

I have never been late with a payment. Using my credit cards mthly and paying off the balances every month. However, my score has not gone up in more than two years. I am over forty and own a home.
0
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4answers
246 views

Is the 30% of credit rule per month?

I have heard that it is best for your credit to use under 30% of the credit available to you. Does this mean per month or at a time? The difference: A. Per month = For a $2,500 credit limit in total ...
1
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2answers
169 views

Wrong last name on my credit card

I just ordered a Credit card and it has my former last name on it instead of my new last name. Can I still use it or do I have to get a new one?
1
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1answer
46 views

Investment with Valuation and Credit Line with 10% Equity

Before I ask my question, I would like to tell that I am not from a Business background and therefore this might sound like a stupid question to most. Recently, I watched a film based on Steve Jobs ...
1
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3answers
132 views

Which is worse for credit score: Bank closure for inactivity, or consumer closure, of a credit card?

Even if a zero-balance credit card is not used, the account age and available credit limit help a person's credit score. If the person decides they no longer wish to use the card (e.g. due to a ...
9
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4answers
5k 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 ...
13
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8answers
5k views

How badly will my credit score be affected if I don't pay back a small margin debt?

I recently started trading stocks and was trading on ameritrade. I went in with just a little money to play around with and try and learn about it, but I forgot to turn off margin trading apparently. ...
0
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2answers
812 views

How much of my credit line should I be using?

I'm 18, and I recently applied for a Credit Card at Bank of America. I applied for the BankAmerica card Cash Rewards Platinum Plus Visa. I got approved for a credit line of $700. I was wondering how ...
-1
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2answers
222 views

AMEX made my dad wait 77 minutes to approve his credit card purchase [closed]

I would like to help out my dad. I apologize since I have no idea about credit cards. So my dad has lots of money, no financial problems whatsoever. He has an AMEX credit card with no pre-set spending ...
1
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2answers
163 views

Can a retailer charge me sales tax after being charged?

I made a large online purchase at a large retailer and I noticed sales tax was not charged when checking out. When I checked my email confirmation, tax also said $0. A few hours later, their customer ...
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2answers
116 views

What formula would I use to calculate the percent of an APR if I knew the payment, principal, and interest?

I'm writing a blog article about potential scenarios in which I might lend someone money and explain how interests work. In my example, I am lending someone $400 and agreed to pay back $100. With no ...
0
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0answers
24 views

Can i connect with 2 brokers for refinance who work in same mortgagae company?

I am in contact with 2 brokers who work/belong to same mortgage company. I am comparing the rates of both the brokers and both brokers work in same refinance company. Is it unethical? Can they ...
19
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5answers
4k views

Why don't more people run up their credit cards and skip the country?

If I total up the amount available on my unsecured line of credit and the limits on my credit cards, it comes to over $100,000. This amount of money would last a long, long time in somewhere like ...
30
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5answers
10k views

Paid off $5,000 credit card 7 weeks ago but the money never came out of my checking account

I paid off my credit card that had a balance of over $5,000. I sent a one time payment for the total amount, about $5,100 to be exact and my credit card company received the payment and reflected it ...
3
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0answers
77 views

Best possible outcome from paying a charged-off account

I had an auto loan from 2011. All but about 1,800 USD was paid off. Various financial challenges and a dose of me sticking my head firmly in the sand led to the account being charged off. I handled ...
8
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4answers
4k views

Achieving ideal credit card utilization above 0%

So everyone is aware of the general rule that you should keep credit card utilization below 30% of your credit limit. It's also a good idea to keep this utilization above 0%. It's very easy to stay ...
4
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4answers
2k views

Can credit card be used as a debit card by making payments into credit card before even using it?

I am planning to use Halifax clarity credit card abroad when I travel to Europe. The credit card offers good rates while using abroad with no transaction charge or non sterling transaction charge (...
1
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3answers
150 views

What prevents a person from paying one credit card bill with another credit card (indefinitely)?

Let's assume that I have two credit cards and get a massive bill for the first one. When I need to pay it, I just use the second card. When the bill for the second one comes, I use the first. I can ...
-1
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3answers
133 views

Paying more than your monthly credit card balance?

When is it a good idea to pay more than your monthly credit card balance? When does that help, when is that not worth doing / doesn't do anything? Why is that a good idea? Does that help your credit ...
17
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7answers
6k views

Open many credit cards while I am young?

I just turned 19 years old and want to start planning for a future of good credit. Should I open many credit cards now so that in 10 years I will have a good history with many agencies, or is it ...
4
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3answers
696 views

How to properly use a credit card

I am a first time owner of my own credit card. I got it with the purpose of building my credit to be able to receive loans for cars/house and things of that sort. I have amassed some student debt, but ...
1
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0answers
43 views

Does mobile phone account negatively affect credit score?

I generally try and keep my credit utilization on my credit cards as low as possible, by having a high limit, and making payments frequently to keep the balance low. I was looking on my Equifax ...
1
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3answers
154 views

Will linking SSN with checking account help build up credit score?

Background: I’m an international student who is currently on F1 OPT. I only have a checking account with a debit card at USbank. I use the debit card very often with no overdraft history. I just ...
64
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4answers
26k views

Is this person wanting to pay my credit card trying to defraud me?

A friend of mine is in another state wanting to pay my credit card. He says he needs my credit card number, name on card, username, password, and card limit. Is he trying to defraud me? Or does he ...
1
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3answers
284 views

Am I less likely to get approved for credit during the COVID-19 pandemic?

I've been thinking about applying for a new credit card or two, as I've been building up credit for awhile and basically all my hard pulls have fallen off of my credit report. Given that COVID-19 is ...
4
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2answers
222 views

Authorized user on parents credit card, will it affect credit?

My sister just applied for a credit card and got denied. Shes never had a loan, always paid her current credit card in full every month, and should have essentially perfect credit (though maybe not ...
1
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5answers
282 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 ...
1
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1answer
79 views

Creditworthiness of counterparty

Based on historical evidence, a B-rated counter party is approximately 16 times more likely to default over a 1-year time period than a BBB-rated counter party. Over a 10-year time period, a B-rated ...
1
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2answers
2k views

Car is under my girlfriend's name, can I refinance it?

Last year I needed to buy a car, but my credit was bad, so my girlfriend at the time let me use her credit to buy it. Now almost 2 years later I have to buy a different car so I can take out of the ...
3
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1answer
631 views

About to pay off car loan, how to maintain credit score?

I will soon be finishing paying off my car loan (yay!). This will be paid off with what is a normal monthly payment, not a large sum I'm throwing at the loan, so stretching the loan out longer (if I ...
1
vote
1answer
192 views

Car Dealership says I have no credit history, but I do?

My fiance and I went to Chrysler Dodge Jeep dealership to lease a car, nothing fancy just a Jeep under 30k. During an appointment we were told that I have absolutely no credit history, which is very ...
1
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6answers
3k views

What is the best credit card for someone with no credit history

A little background, I've never had a credit card and I'm seriously due for a credit check as I've never had one. I've applied to numerous credit cards and I've been declined every time. I hold a ...
0
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2answers
100 views

Credit­-default swaps

Can someone explain in laymen terms what exactly are credit-default swaps? And how do hedge funds made a killing on them during the market crash in March? (I am assuming these are debts that parties ...
0
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1answer
161 views

Where can I find out details about the actual network on which SWIFT banking works?

What I'm primarily interested in: finding out whether Bank A in Country X has a direct SWIFT connection to Bank B in Country Y, or does it compulsorily have to go through Bank C in some country? I've ...
9
votes
4answers
511 views

Are there advantages to getting a "secured" credit card, if you have poor credit?

I've heard about "secured" credit cards - where you basically pre-pay the amount of your "credit card" limit - surely your use of this type of card is evident on your credit report, and the advantage ...
0
votes
4answers
690 views

Credit score dropped 73 points after applying for a new card?

Why did my credit score drop from a 762 to a 689? According to creditkarma I got hit with: JPMCB-Card Service: Opening a new account can temporarily lower your score because it adds a hard inquiry ...
0
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3answers
274 views

How exactly does paying your credit card balance in full increase your credit score?

Does anyone know how a credit score increase is calculated based on paying off credit card balance(s)? In addition, is it cumulative balance or just the balance at the end of a billing term? For ...

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