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The bank considers a few items when approving a mortgage: Your credit history. A great history/score helps, and bad one hurts. It can show up in the rate, or even may be the determining factor if the financial numbers are close. Your income. If you have no other debts this number is used to determine the maximum amount you can afford. For a mortgage they ...


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If you change your cards, you will most likely reset the credit age for that account. This has happened to me twice. Once the credit card company offered to upgrade my card and I accepted. The other time, the card changed provider bank without asking me. Both times they reset my credit age. In the first case, I asked about this and the person I talked to at ...


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Based on the situation you describe, I do not think there is an advantage to waiting a year. The act of closing an account affects your score because important inputs include (1) how much unused credit you have available (2) how many accounts you have open (3) the average time-length of your open accounts. All of these are of high importance and will be ...


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Your credit score is going to go down when you start using credit again. You say you don't care if your accounts get closed but this does matter. The problem is part of your credit rating is the age of your credit. When you open new accounts you now have a very low credit age and that's not good. You would be better served to keep a few cards alive. You ...


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Possible award of $500. I wouldn't count on getting any money BUT if there was I would rather bet it would be on the lower side. Yes - if you pursed this, AMEX could cancel your card on the ground that such involvment is equal to you not agreeing on Table of Payments, regulations etc.


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If the property is jointly owned, technically you can mortgage your undivided one-half interest, but I doubt that any bank would be willing to do that. If you didn't pay, foreclosure would be much more complicated.


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Which credit card would you recommend to apply to? If you don't want to try a Discover card, then get a secured (Visa or MasterCard) credit card. That's where you open a savings account with the card-issuing bank in an amount equal to the credit limit on the account. Typically it's between $300 and $1000. Typically after one year, you can apply for a ...


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Your "credit score" is a generic, indicative figure based on a credit reference agency's idea of what they think are good indicators for creditworthiness. Each of the CRA's will have their own algorithms for generating this score, so it will vary. These scores are not used by credit providers - they will have their own scoring criteria that varies from ...


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