 Help with paid off debt... 7 years? |
| I had debt that dated back to 2000 (date opened) and have recently paid it all off, this year. Will the negative debt records clear 7 years after the open date or 7 years after I have paid off the ... |
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 What are the laws for collection agencies to collect debt from people that was from 2yrs ago and harrassment? |
| They also mentions that they would make a note that my sister will bw non negoitable, which means what? What steps can I take to have them stop harrassing me?... |
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 Do people that quote Dave Ramsey like the bible annoy you? |
Additional Details
If we wanted to hear from Dave Ramsey we could just order his products, am I right?... |
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 Cleaning up my credit report? |
| I have 3 charge offs on my credit report, the debt just under $1500 total and over 5 years old and from what I gather the statue of limitation has expired on them (is that the right wording?) but I ... |
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 If my sister is financing a car and i want to take over payments whos credit report does it go on??? HELP!!? |
| If my sister is financing a truck and i buy the truck from her, so i'm taking over payments, does it get transferd to my credit report or does the vechile stay on hers?... |
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 Credit card issuer cancel my card due to inactivity of the card use, will this impacts my credit score? |
| I got notification from credit card issuer that my credit card was canceled due to inactivity. I have not use the card for more than a year. I would like to know if this cacelation will have impact ... |
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 My brother is looking into filing bankruptcy, is that bad? |
| My brother has over 97,000 dollars in personal student loans, plus 60,000 in credit card debt, all accrued during college. All his debt was due to him paying for studnt supplies, tuition ect. He now ... |
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 Does anyone have an opinion about those debt eliminating companies? They reduce 60% of your debt in 3 years.? |
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Apparently, you open a bank account, don't pay the credit card companies for 3-4 months but send payments to your account to build up enough money for them to ... |
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 How do I raise my credit score? |
| So as a teen I screwed up some, landing me 3k in debt and boasting a score of 580 :( :( so im 22 now and I really wanna fix this. what do I do?... |
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 Are my Credit Cards being fair?? |
| I just called to ask my credit card companies to lower my interest rate, and they said they can't do that until I get back into my limit. I am only 200 dollars over my limit on both, and my debt ... |
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 Fiancial Advice for someone who is in big trouble. What should my friend do? |
| My friend's parents are in debt 2 Million dollars because of some bad investments. They are trying to pay the mortgage on their home. The mortgage is 10k per month. The husband just lost his ... |
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 Is it legal for credit card companies to increase interest to 34.9%? |
| queried why payments were increased and was told interest rate was increased by 10%.... |
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 I have POOR credit and need help? |
| I have POOR credit, and a small debt. Because of my credit I can't get a loan, and because the debt is small I can't do consolidation. Is there any other offers I could take advantage of?... |
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 Can someone check my credit without my social security number? |
| I am applying to rent an apartment and the advertisement said that there was a credit check. The application doesn't ask for my social security number. There is no application or credit check ... |
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| Debt recovery? |
| My son has left home owing monies to a major credit card company..his address for this debt is my own and my wifes. we do not have any contact with our son as he just got up and left with no contact ... |
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 Do I have too many cards open that may be hurting more credit score? |
| I have 2 credit cards that are activeted and1 that is not activated. The first card was activated 07/07. The 2nd 09/07 and the 3trd one is open (againts my wises) but not activated 10/07. I also have ... |
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 My remaining balance on my credit card? |
| remaining credit balance on my Banco De Oro Shop More credit card number 5125 7102 7540 5101... |
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butterfly420☮ | Do the type of purchases made on a credit card have any beneficial affect on your credit score? |
I'll give an example. Say I use my credit card for necessities like family groceries and gasoline, as opposed to non-necessities like games, jewelery, or new room furniture. Does this have any effect on my credit score, or no?
Additional Details
Of course I plan to use on the credit card only what I can pay off at the end of the month. That's a very good way to builld credit. Thank you all to giving me a very good, straightforward answer. |
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wickdsinnr
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Nope, not at all ;) |
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SPIFIMAN1
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Man some of these answers are so bad it hurts to read them.
The credit bureaus are only reporting agency's and only report what is reported to them, they have no way of knowing what you bought on your credit card and could care less.
The only things that affect your score like some others have pointed out are your utilization and your payment history, as long as you keep your balance below 30% of your credit limit and pay on time you will be fine. |
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Shelly B
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Absolutely none...the only thing that affects your credit score is timely (or late) payments. |
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Gwynn T
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Not for your score. The credit cards do not list the purchases made to the repositories. What they do record is that it is a revolving line, when it was opened, when it was last used (purchase or payment) what the credit limit is, what your balance is, the account number and how many payments were made.
The score is based on the ration between what is used (your balance) and what can be used (your limit) and how many late payments- more then 30 days.
A major purchase account or using a majority of your credit line will lower your score. By maintain 10-25% of the balance on your card consecutively for 6 months will keep your score higher. If you use the card on already budgeted items then pay the card off at the end of the month, then you will maintain a higher score.
It isn't what you buy, it is how you pay that affects your score.
Please remember that if you pay off the entirely before 30 days, you will not have to pay interest. The repository will show that you made a payment and the account is active. If you do that every month then you will have a high score. If you do that with 3 cards then your score will remain high. Leaving a balance on grocery items means you are paying interest on food, not a good idea. |
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don1862
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I have heard gambling has a big negative affect. I don't think the other items will hurt or help. The big issue is that you pay them completely every month. Credit card companies actually prefer that you do not pay the balance every month, because they want the interest. But if you do pay every month, they know they cannot lose on you. I use my credit card for gas and groceries plus a few larger purchases. I always pay 100% every month, and I have a very high score. |
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Anjell
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No, the type of purchase is meaningless.
All that matters is your utilization (how much of your available limit) you use, how much you pay and if you pay on time.
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SDD
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It can. Credit issuers sometimes examine the profile of purchases to add "flavor" to the credit assessment they make of you. Exactly what constitute positive and negative patterns are kind of a trade secret, so it would be hard to assess what effect, if any, your pattern has. It would be minor, though, compared to other factors. |
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Gefilte Girl
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I would think if you had to finance food that it's worse. I read something about how frivolous purchases affect getting more credit, but I highly doubt that. |
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I've moved to Bermuda
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Your score can be lowered considerably if they see patterns of consumption that are objectuionable to society
say you have a charge from an escort service and a hotel room the same day
or if you charge a lot of boose to your card
people will be worried that you are becoming an alcoholic and will be a less reliable risk
thus lowering your score
or in the case of escorts
this would be deemed as high risk behaviour |
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