 Bankrupt girlfriend? |
| My girlfriend just told me that she's a discharged bankrupt!! I'm 28, she's 26, we've been together for 7 years, and she went bankrupt when she was 22!!!! It was stupid credit ... |
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 Just thought I'd give it a try? |
Hi, this is George Zimmer founder & CEO of the Men's Warehouse, just by change would anyone have a few million dollars to lend me??
I have the craziest business scheme, I'd let ... |
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 Harassing phone calls- Do I have any recourse? |
| My husband and I moved to a new state 4 months ago. Since our phone number was activated, we have received an increasing number of phone calls from debtors and collections agencies asking for two ... |
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 How did your credit get ruined? |
| I was 19 when my was destroyed. I needed an emergency surgery and didn't have insurance. The "doctors" couldn't figure out what caused the pain, but told me I have endometreosis ... |
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 What is the best way to start building your credit. I'm 18.? |
| I just turned 18 in June. I was told the only way to start was by getting a department store card and then moving on to bigger things. Well, I applied for a JC Penny Card and was not approved because ... |
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 Why can't I get a credit card? |
| I see people all the time who have 25,000 in debt for school loans or people who get pre-approved credit cards in the mail on a daily basis who have NO business having them. I am a 25 year old male, ... |
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 I have no credit history. Should I get a credit card? |
| As the question states, I have no credit history. There is no way I can get someone to co sign for a loan for me. I was just wondering if this was the best way for me to get a credit history if I use ... |
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 I got a letter from Capital One...I think they are suing? |
| I defaulted on my Capital One Card less than a year ago. I recently moved, had the post office forward my mail but unfortunately a letter from Capital One went to my old address at my parent's ... |
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 Do Credit Unions carry out credict checks?? |
| Hi just wondering if anyone knows if Credit Unions carry out credit checks. I doubt very much that they do as they are supposed to be there to help people. I applied for a loan on Saturday and i ... |
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 Payday loans yes or no.? |
| Well it's almost christmas. If you were short on cash for christmas, say around $500.00 would you consider a payday loan yes or no and why?... |
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 I need help with my debts? |
I HAVE LOTS OF DEBTS THAT I WANT TO GET RID OF BUT I DON'T KNOW WHERE OR WHO TO ASK FOR HELP!!! SHOULD I GET A DEBT CONSULTANT???
Additional Details
no i don't own a house and ... |
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 How do I get my credit score? |
| I went to annualcreditreport.com and did my credit report, but how do i get my score? Can I get it for free?... |
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 Finding a home loan when my credit is bad, where can I turn??? |
| My credit is bad because last year my husband became ill with liver cancer. We have been trying to get back on our feet. we can afford a mortgage but no one will give us one because of our credit. T... |
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 Has anyone ever heard of this credit card? |
| I recieved an email credit card offer for an Imagine Gold MasterCard...issued from 1st Bank of Delaware...has anyone ever heard of this card and if so can you please let me know..... |
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Miranda | Anyone out there frustrated about their credit rating? |
Heres the deal: Im 20 years old, I have had credit history for about 3 years I have done excellent with making my payments and also paying off my credit, however I only have an Average rating and Its tough to get approved for anything.... grrr |
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cybernewsmaster
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Establishing a great credit rating can be challenging. But there are some steps you can take to significantly improve your rating if you know what to do (and what not to do).
For example, don't open up a bunch of low-limit credit cards. Each time someone does a credit check on you, it may affect your actual score (lowering it)...
I'm not a financial advisor, but I did get some great tips from a reputable one. I really recommend you talk to someone you or your family has already dealt with, like a mortgage broker or loans officer, or even someone at your bank... |
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echo
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Probably your biggest problem is because you have only had credit for 3 years.
Which is a very short credit history. Usually creditors like to see somewhere around 7 year history.
Find someone who has a lengthy credit history and see if they will add you as an AU on a card or two.
Be sure that the card(s) you are added to have excellent history with no lates, no overages and a low utilization.
Another thing that lowers your scores are inquiries. When you apply for credit and they pull a hard on you, that will negatively affect your score for roughly 6 months or more. If you have recently applied for "numerous" cards, I would suggest letting the inq's age, for around 6 months, before applying again.
If you have old late(s) on one or more of your accounts, try writing a letter to the company(s) asking if they will remove the late(s). Mention the reasons why you were late and that you have had kept up the payments since then. (probably will not work if the lates are a year or less old)
You might try the card selector recommendations on Bank of America or on Orchard Bank sites. When you do that, they pull softs on your reports (which does not affect your scores) unless you actually apply for a recommended card, then they will pull a hard. Just keep in mind that if you apply from the recommendation that you get, getting a card is "not" guaranteed.
If nothing else, try for a secured card from BoA or Orchard. Secured cards from BoA usually unsecure after 9 to 12 months (if you have a good history since you open it) |
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pinkdiva
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im self imployed had a joint card with hubby
finally after 20years i got my own card call the bank and ask them to increase your credit limit even if it's abit at a time it may help |
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n K
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well sometime credit rating don't follow their own rules grrr |
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shoe shoe
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Yeah I'm extremely frustrated with mine. I used my credit all through college and it's still hard to get approved for stuff. |
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tweety
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How much credit have you had? At 20, you obviously haven't had a very long credit history... 3 years might seem like a long time to you, but it is not that long when you're a bank looking at a loan application.
There is more to being approved for a loan than having a good credit history... for a consumer, the three things a lender looks at are basically 1) your credit score/history 2) Your employment history (which will give an indication of your ability to pay back the new loan) and 3) The "loan to value" ratio... the LTV is basically the requested loan amount divided by the dollar value of the collateral. The higher the LTV, the higher the risk the bank is taking in lending the money. For example, you want to buy a car, and the sales price is $10,000. You can put $2,500 down, so you'll need to borrow $7,500... That $7,500 loan amount divided by $10,000, the value of the car, comes to .75 or 75%.
If you only put $2,000 down, then the LTV would be 80%, since you would be borrowing $8,000.
I should also point out that even if you pay your credit card bill in full every month, it will not necessarily be reported with a zero balance to the credit bureaus. Credit cards are basically reported by creditors once/month, and whatever your balance is THAT DAY, that's what gets reported to the credit bureaus. So if, for example, you have a $500 limit, and every month you charge $450, but pay the bill in full when it comes, it might still get reported to the bureau with a $450. balance.... so a bank is going to look at that and say "she's got a $500 limit and she's almost maxed out"... not only a bank, but the credit bureaus will look at it the same way, and that's why your credit score will probably be on the low side.
You didn't say what kind of job you have or what kind of loan you're applying for, so it's difficult to give a specific answer as to why you're having trouble getting approved.. I would guess that it might be for a car loan, but I could be wrong... if you're buying a car in order to have transportation, your request will actually be looked upon more 'kindly' by a bank than if you're trying to buy the latest, greatest vehicle with only a small down-payment.
Anyway, good luck to you,and hang in there...you'll have plenty of credit before you know it...but use it wisely!!!! |
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CATSRULE/DOGSDROOL
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yes |
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Tameka M
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i know how you feel it seems that everything is based upon your credit jobs relationships just about everything. i think that if you keep up with your credit report and stay on the people that you have accounts with and make sure that they are reporting when they should you will be ok and try to double up on your payments from time to time that will help sometime.these words from some one who has had to learn the hard way. |
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M S
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make sure you check all the little things on your report to make sure they are accurate it only takes one late or not a minimum payment on a report to wipe out years of hard work |
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jennlupe
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I know how you feel. I have not had any credit problems since my divorce 8 years ago. All my credit is paid ahead or on time. I don't have any credit cards, but do have a vehicle loan and house payment. Always on time or months ahead. Yet I find myself constantly checking my credit, My credit score is average. I have often found discrepancy's and people checking my credit without my permission. When I got my vehicle I had to pay a higher interest rate because my score was low even though My other payments are always on time or early. Then I have a relative who lies to creditors, has repos and bankruptcy's, and gets the best of financing . I often wonder if the system is fair for us honest people. How 'bout you? |
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Anim8tor
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Well, if you are talking about your fico score it is based on more than just credit cards. It's based on your types of debt, length of credit, length of employment, years at address, etc. Everything little thing has a weight to it. It is a real balancing act and I don't usually like to promote certain products over another but the best source of information is probably Suze Orman. She's got great common sense advise for anyone trying to build or repair their credit and the best thing is that she's accessible. She has programs on PBS and her books are in virtually all libraries. |
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