 Does your credit score go down if to many credit lenders look? |
| I am looking to buy a house and want to seek a few different options before buying. If I have them all pull my credit will this cause my score to decrease? Please tell/show me how you know this.... |
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 Is a credit score of 645 good? |
| i was thinking of getting a loan to get a house built for when i get out of college. will that be enough to get a loan?... |
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 Credit card nonpayment? |
| What will a credit card company do for balance of $5300 that I owe them and am not able to pay?... |
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 What should I do? |
| I found out via my credit report that in 1995 my sister used my SS # to get a phone in her name, now I have a $430.00 bill. How should I handle it? Should file fraud, pay it myself or demand she pay ... |
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 How to start my credit history? |
| What is the first step should I take to begin my credit history? Loan, credit card?... |
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 Is it better to pay off old debt? |
| my husband has some old stuff on his credit report that is now in collections. some of the things are 3 years or more old. is it better to pay these collections off, or will they eventually fall ... |
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 I am 20 years old soon to be 21 is 710 a good credit score for me? |
| Does everyone start off with a score of 830 and then it drops down or do you work your way up to a perfect score? What does my score of 710 actually mean? I do have credit cards but whenever I get ... |
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 Should I take a loan offer from the United Kingdom? |
| I have had 3 or 4 loans offered to me and they want me to wire them a 200 dollar lawyer fee. Should I or has anyone else in here done this. I am in desperate need because of school and also my other ... |
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 My credit rating is awful.? |
| My curent credit score is 511. I have been paying ALL my bills on time for 8 months now and have also cleared 2 defaults, but my score isnt improving. Ihave registered with experian and have been ... |
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 Is there somewhere i can get my credit report for free? without entering a credit card number...? |
| i don't want to give up a credit card number...i feel that if they say FREE CREDIT REPORT that i should not need to provide a c.c. # sounds like they are trying to pull a scam...i know that i ... |
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 Credit score below 520 and in need of a loan can any body help? |
| i am in need of loan and my credit score is below 520 due to a divorce I am a single mom with 3 small kids I am looking for some lender that can help me I have no money to pay out and prosper my ... |
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 Should I get a personal loan to pay off credit cards? |
| I currently have two credit cards (#1 - $1569.94(14.99%), #2 - $4,153.37(15.99%)) I'm having no problems paying them down, even though it is going down quite slowly. I am usually paying the ... |
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 I need help really really bad.? |
Hi and thanks for taking time to help me.
About 2 months ago I was preapproved for a new/used truck from a reputable dealer. I took every precaution known to man to make sure it was true before I... |
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 How to stop creditors sending letters and calls? |
| I keep getting calls and letters from creditors for my daughter. She has not stayed at home for over ten years now and never had any credit here. I have returned the letters unopened and when they ... |
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 My FICO score is 397. Is there any unsecured loan I can get to help pay off debts? |
| I would love to better my credit, but I need loan to help pay off some debts to do this. Is there any loan I could receive since I have poor credit hiostory?... |
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 Which is best to clear first? Overdraft or Credit Card? |
| Which would be best to clear first to improve credit rating?... |
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 Yo, can someone buy me a virgin moble top up card im a kid and totally broke.? |
| I you want to help me u can buy me the pre paid card and mail me the pin #... |
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I Seek | Can anyone answer my question about credit cards? |
I am just starting out with using a credit card. If I make the minimum monthly payments, could a credit card company ever suddenly take your money out of your account or garnish your wages without forewarning in order to pay the full amount owed? I don't really know how credit cards work yet. |
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Faeldaz M
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Making minimum payments is a really bad idea. Not because the credit card company will come after you. They like it when you make minimum payments: it means that you pay them alot more money in the long run. Minimum payments to pay for a $100. CD player means you'll pay something like $400 for it over the long run (300 profit for the credit card company). Does that sound like a good deal?
The only time you should carry a balance at all on a credit card is if you had a real emergency and had to pay for something completely unexpected (medical problem, car repair you need so you can drive to work, etc.) Even then you should pay the balance off as quickly as you possibly can. Otherwise the best thing to do is to pay off the credit card balance in full EVERY MONTH. Othewise you're paying a huge interest rate and paying much more for everything you buy. |
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words_smith_4u
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First, not a good idea to only pay the minimum amount. Try as much as possible to pay the balance off each month.
To answer your question, as long as you continue to pay the minimum, then the credit cards will be happy to continue to give you credit, and charge you interest.
When you buy something by credit card, the credit card company pays the store. Then, you have ~ 25 days grace period to pay off that balance. If you don't, then you'll get a bill with a % added onto the balance each month. |
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~})i({~
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nope they cant to that but i can tell you this by only paying the minimum amount owed you will have that thing payed off in like 10 years and would have given them thousands of dollars in interest. Its best to not even have credit cards..but if it is a must then dont just make the min. payment try and set a payment plan to where you can it it all payed off in as little as about 3 or 4 months. |
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the Boss
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No.
Making minimum monthly payments is exactly what they want since you are paying interest.
If you miss payments or are late, then they may raise your interest rate and they will hurt your credit score. |
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serengeti
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nope they can not do that . However pay a few dollars more then the minimum amount...that ways your payments get reduced every month and you don't get dinged for interst on interest paid.
remember credit card companies love earnings...and they get it from people who pay minimum |
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BlankProfile
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No, but paying more than the minimum balance is good. Check out bankrate.com and myfico.com. |
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eve41_99
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If you pay the minimum payment they can not take money out of your account or garnish your wages, however you will end up paying alot of money in intrest and other charges. The best thing to do to avoid intrest rates is to pay your credit card in full every month. the credit card company can only take out of your account if you dont pay your balance and it goes to collections. |
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Big Bear
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It depends on what state you live in. Making minimum payments, most likely they won't, it's only when you don't pay for months that they rob your account.
You should try to pay more than the minimum payment because you're not really getting rid of the payments, but the interest on the card. This is how people get into the cycle of debt and can't pay off their cards. |
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rhsaunders
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No. To go fishing in your bank account, a number of things would have to happen:
- You would have to be in default, for being over-limit or not having made required payments.
- The company would have to go to court, sue you, and win.
- The court would have to issue a writ of attachment against your accounts. But that is routine if the CC company gets the judgment.
The right answer is: Pay the credit card bill, on time and in full, every month. Not only will this give you a sterling credit rating, it will also save you a large fortune in interest -- credit card interest rates are outrageous. |
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Shelly B
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Credit card companies NEVER have access to your bank account...and, never would they garnish your wages if your making your monthly payments.....although, all the other answers are absolutely correct...by making only the monthly minimum payments....you'll be paying on the account for years to come...as well...paying a small fortune in interest. While a small credit card with regular monthly payments is a good way to increase your credit score. Paying to much in interest in no good for anyone except the credit card company! Charge small...and pay the balance off every month. thus, saving yourself interest money, and increasing your credit score all at the same time. (as long as you pay the balance every month, you won't pay any interest)....however....make sure you watch the fine print on the card application...make sure the credit card company doesn't charge you "one time activation fee" or that you aren't getting charged an "annual fee"....before agreeing to any credit agreement....always make sure you are fully aware of ALL the details of the agreement. Also...make sure they aren't charging you an outrageous interest rate! Be Careful...it's a cruel world!!! |
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I thought so!
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nope |
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