 How do you get a car loan if you have no credit, but bad credit? |
One of the things car dealers look for is established credit, if you do not have it they offer the first time buyers package.
Only I don't qualify because even though I have no credit,... |
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 What are some ways (that won't cost money) to moderately improve your credit score? |
Additional Details
I heard you can improve your credit by selecting the 'credit option' versus the 'debit option' when using your bank card. Is this true?... |
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 What makes a good credit card? |
| i am interested in getting a visa card but unsure how to find something ideal for a ... |
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 Is net shopping through credit card safe? |
| I want to purchase some items from US. But i am worried .... |
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 We've been approved for a home despite our low credit score? |
| We have mostly medical bills on there. What are some of the things that could stop the closing dead in its tracks. We're building our home and I am just not excited at all fearing that the ... |
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 BAD CREDIT AND NEED credit card? |
| I WAS WONDERING IF ANYONE KNOWS OF A CREDIT CARD COMPANY THAT WILL ISSUE YOU A CREDIT LIMIT WITH NOT SO GOOD CREDIT. LIKE BANKRUPTCY, REPO ETC..THE MONEY IS NOT THE PROBLEM BUT I HAVE BANKRUPTCY OVER ... |
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 Does it look bad when I request my own credit report? |
| A woman reviewing my credit at a credit union today said that it generally looks bad if my report has been accessed 6 times in one year by credit card companies or lenders. When I access it myself...... |
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 I am trying to clean up my credit. I was wondering what is the fastest way to get rid of it? |
| I have 5 credit accounts: $183, $1,027, $1,551, $4,300, $6,400. I just started working a little bit over a year now as soon as I got out of college. Is there anyone I could talk to about getting any ... |
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 What would you do if...? |
| Someone you know or someone thats related to you got a hold of your ssn and used it to get credit cards with your name on it cause they're money hungry? I'm having this problem and I don�... |
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 Why can't Americans pay their bills on time? |
| The current credit crunch crisis stems from the fact from the American people's inability to pay their mortages on time. Why is this the case?... |
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 What do you do if someone gives you a check and the check came back NSF and there account is closed? |
| I received a check and I had deposit it and it came back NSF and I cant get in touch with the people and there accout is now closed, what do I do?... |
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 I am a small business manager. A debtor owes $250 and moved out of state. He owns no real estate.My options? |
| BTW, in my business, all the income is in small "bites"-- $25, $35, etc. so I'd rather not just let $250 just slide. The debt is 2 years old (and not bc we didn't try to collect). ... |
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 How much do Credit Repair companies charge? |
Any idea how much it costs to have a credit repair company try and fix your credit report
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I know that credit repair is mostly a scam, but I'm curious about the ... |
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 Fiancée's Parents Taking advantage of and ruining her credit? |
| My fiancée's parents have used her credit for the past couple of years for cable, internet, and other utilities. She spoke to her mom about it and her mom supposedly canceled the dish account. T... |
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 Is now a smart time to pay off credit card debt or save? |
| I'm just curious. I should be coming into a little money sometime soon and I didn't know if it would be more wise to pay off debt or to save, seeings as the economy is being flushed down ... |
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damaster360 | As despised a credit card is, why do people like them so much? |
itunes accounts needs them. paypal needs them. ebay needs them. and almost all of internet shopping vendors (read:scam websites) requires you to have a credit card account. but what i see, the general consensus of yahoo answers doesn't like credit cards. so if people hates them so much why do the sellers still want you to have it? are they paid by credit card companies to do that? and even if they are, don't they get 80% of their money from us, the customers? enlighten me on this one please.
Additional Details
@ creoquemierdero, you can add me to the first category. but your answer didn't help me at all though. thanks for nothing on that one. |
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Rigo
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Companies like making money off the interest.
Consumers like getting things NOW without waiting to save up money to pay it upfront.
There's nothing wrong or evil about credit or credit cards, because it's completely based on a person's level of responsibility. Someone is bound to like credit a lot less if they aren't responsible enough to control spending and fall into debt, than someone who pays their balance every month. |
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bud68
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Yahoo's "general consensus" is not a typical sample of the population. A lot of the postings here are from people who haven't handled credit well and then blame the creditors instead of facing up to their own deeds. |
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Deliah
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There is absolutely nothing wrong with a credit card it is the people who use them unwisely and then want to blame everyone else, heck even make sure we pay the darned bills when they declare BK, for their own irresponsibility. |
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creoquemierdero
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Since most people on Answers are either children who can't get a credit card, or dead beats who have maxed out their credit cards and have a credit score of 400 so they can ask stupid questions about getting a loan... I would say, it's just sour grapes for many of the people on here. |
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teehee
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No, credit card companies don't pay the vendors -- the vendors pay approximately 2% to 3% of the transaction to the credit card companies.
What do you propose Internet businesses do? A credit (or debit) card is the easiest and quickest (and arguably safest) way of processing a payment today. You're not going to send cash, check, or money order for a purchase to a big company, are you? That takes a long time and actually costs more to process if they sell many low cost items. You wouldn't want to give them your bank account number either, because that's not safe (especially given some retailers' poor security records). If you have a better idea you should get a patent and make it a reality -- you'll be rich if it catches on.
I like credit cards because of the protections they offer (if you click on my previous answer in my profile, I've just listed them for someone else), and because of cash back rewards. Like others have mentioned, the "consensus" you are seeing on yahoo answers is from people who have run into credit problems and are looking for help. Questions like "am I rich if I make $250K/yr," or "what would you do if you won $12M" are rare. People without credit problems don't ask many questions in the Credit section.
There are other websites where people discuss making money from credit cards. Sign-up bonuses, cash back rewards, and the ultimate play of borrowing money at low-interest rates and putting it into high-interest savings accounts. You can make thousands of dollars a year doing this (I'm not exaggerating). Of course you need to have good money management skills (and good credit) to pull it off.
-- RE: "credit companies can change apr as how they see it fit without warning" -- this is false -- if they change the terms on you, they have to give you 30 days advance notice, in which they allow you to opt out of the change. If you opt out, your account will be closed, but any remaining balance can be paid off under the original terms. |
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bdancer222
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I love my credit cards. I use them for everything. Of course, I pay them in full every month and they're cash back rewards. So they pay me to use their money. What's not to like? |
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*****
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In four words, buy now, pay later.Only problem is, when the bill arrives, they never have the money to pay. |
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slee d
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Carrying cash is more risky and it is convenient for online payments |
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DaMan
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I like them because I get a FREE 20-day CASH FLOAT when I purchase something on credit, and pay my balance in full on the payment due date.
If you can pay your balances in full each month, credit cards can temporarily increase cash flow. |
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Out of Focus
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I'm not 100% sure of the answer but in light of the recent direction of the economy, I have a good theory as to why most companies require credit cards.
Countless studies show that people are more likely to spend money when they use plastic (debit and credit cards) than when they use cash. They difference widens more when they use credit cards vs. debit cards because most people rationalize that they can just pay it back later with no real penalty. Therefore if a company requires a credit card, then in theory they are increasing their sales because people are more likely to spend money on the credit card. Credit cards are not subject to budget limits, only credit limits; which are expanding constantly.
So from a business standpoint requiring a credit card is a win-win situation. Business get more sales from people who dont know how to live within their means. The credit card company gets their interest income for God knows how long because consumers are only going to pay their ridiculously low minimum payment. And consumers will get a good or service they would not have normally received if they had paid with cash. |
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