 Is this legal? |
| At a grocery store downtown, there is a little "bulletin board" type thing near the cash register that has copies of "bad checks." This wouldn't bother me much, it's ... |
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| I found a credit card on the ground, but with no other things to give me information on its owner. How do I get this credit card back to its owner, since I have no information besides the credit card ... |
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 Why does the government not control the interest rates and charges the credit card companies charge? |
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| My credit card company is charging me a $90.00 late fee because they say my payment was late. As long as it is postmarked by the due date isn't the payment considered on time? Thanks.... |
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| I'm about to pay off four of the seven cards I have and I've read that closing them after paying them off can hurt my credit score. But I've also read that it may be better to keep ... |
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 Can they send me to jail? |
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| My divorce decree gave ownership via quick claim deed to her, and states she will pay the mortgage. I am having trouble getting credit because my credit report show the loan in my name.... |
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| Im 19 and just found out my SSN was used when I was around 12 now my credits all screwed up how do I go about fixing it? Do I get a new SSN? Who do I call? etc etc etc.... I was wanna get this ... |
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| how old do you have to be to get a credit card?... |
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Mark W | Credit card limit increase?!? |
Citi just increased my credit limit from 3K to 4.5K..
I always pay my bill in full and my credit card bill is generally only about 1 or less K per month and I always pay in full. Should I have told Citi to not go ahead and increase my credit limit because I heard somewhere that it makes your credit score less attractive because you're not spending as much of your credit limit with an increased credit limit situation like mine?
Thoughts? |
 |
 
SPIFIMAN1
 |
No this is actually a good thing because it lowers your debt to credit ratio which makes up a full 30% of your credit score.
And paying in full is the correct thing to do I have 3 cards that I put everything I buy every month on and pay them off in full before the due date have done this for the last 2-years and all of my scores are over 800 plus I make several hundred dollars a year in cash back rewards for using someone elses money for free. |
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Steve D
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Actually, in most cases it helps your credit score. One of the measures is balance to available credit - the lower the ratio, the better your score (to a certain extent when debt available in ratio to income gets too high). |
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miatagirl777
|
My husband and I just purchased a car. From what we understand having open credit lines and not using them is like gold. Shows you are responsible enough to have it but not abuse it. :) |
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lilmeester
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The more credit you have available and DON'T use the better for your credit score. Just be careful and don't charge any more than you already do. It's great if you pay it off each month though. Don't worry about it affecting your credit, just behave and pretend it's not there. |
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Aliz
|
Because your rating is so very good with them they have automatically increased it. I don't think it will hurt you because your credit report would show that you have paid in full every month. |
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Nata
 |
If you use all of your balance regularly that will hurt your score. Increasing your credit limit will help your score! Just make sure you pay your bills. |
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Jay P
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This will not hurt your credit score. In fact it will help. The bank increasing your limit is a way of rewarding good behavior. They view you as less of a risk and therefore are allowing you to borrow more money. I would not let this affect your lifestyle and cause you to spend more. However, it is a sign that you are doing good things.
Now regarding your FICO score, this will actually help your score. Part of what they look it is called the debt to credit ratio. The more credit and the less debt you have, the less leveraged you are. This improves your score and makes you less of a default risk. |
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Ilsa
|
I think you heard incorrectly. The lower your actual balance compared to your credit limit the BETTER your score is. However, it is a total of all your open lines of credit versus your total balances. So if you add up every single card limit and it's $10,000 - for the best credit score - you would never want anything about about a $4000 balance total on all of those cards together.
However, as someone who learned the hard way -- you never want any balance. The company raised your limit because you pay the account off every month. They figure if they raise the limit, there is a greater chance you are going to spend beyond your means and max it out and start having to carry a balance - which totally sucks. They can raise it - that isn't going to matter - but if it triggers you into thinking that you can spend more, it's bad.
on a side note --I would suggest you check out DaveRamsey.com and get rid of your cards completely :) |
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andy
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If you only have one credit card or just a few this raise would not be bad for you. Where you start getting into danger is when you have multiple credit cards where your available balance is around your income or greater. I would not worry about this unless you are looking at buying a home and you would have too much credit available. |
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collegenebula
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none of that matters.
The only things that affect your credit negatively are not paying,
opening more credit cards or taking out loans.
just pay your bill on time and your credit rating will go up. |
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xxjoebreadxx
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I'd wait till the U.S. comes out of the dumpster to worry about your credit. |
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Max
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yes |
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LOUISE D
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no |
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bschh
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citi spent there bailout money on jets. i dont think they really know what they are doing |
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