 What is the best way for me to dispute an item on my credit report? |
| I just closed a mtg refi. My lender found a $3500 chargeoff on my credit report. I called the company who placed the item. They could not find anything with partial acct # provided on the report. ... |
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I have a medical bill from February 2000 that I considered at the time, and still consider, to be illegitimate. I didn't pay it.
In 2004 it was sold to a collection agency.
... |
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Additional Details
But if they enter THEIR billing address, wouldn't I be able to track them down, and sue or what not?... |
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brittany.mach | Does opening a bank account and continually putting money into it without taking it out establish credit? |
I opened an account and I want to know: if I keep putting money into it and rarely take any out, does this establish credit? If not, how can I? A person said something about purchasing something at a cheap jewelry and making the payments will do it but I have no clue what to do because I am in high school. |
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stephenweinstein
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No, it does not. Only paying money that you owe and are required to pay (meaning money that you borrowed or payments for something that you bought by agreeing to pay later) will build credit. The most common way is with a credit card. After you have put enough money into the bank account, you can ask the bank to issue you a "secured" credit card, even if you have not yet established credit. Making the required payments on the "secured" credit card will establish credit and allow you to obtain an unsecured credit card later. |
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bigbaddermofo
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No. It is very good to do, but it does nothing for your credit. What you can do, is go to your bank with your parents. Open up a secured line of credit with the help of your parents as a co-signer since you are a minor. A secured line of credit is were they hold your money as collateral, and give you a loan for that money. As you pay it back in monthly payments, your credit will be established. At the end of the terms, the bank will release the lien on your collateral and you will have that money back.
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livinfree90
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One of the best ways to establish credit is to get a credit card and charge everything you buy with it. Here is the most important part. When you are charging it, deduct it out of your account as though you were using a debit card. This way when the credit card bill comes you know you have the money to pay off the entire balance. Again deducting it out of your account as though you were using a debit card is the most important part. Do NOT charge with the idea that you'll get the money.
www.livinfree.com |
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Judy
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Open 1 or 2 credit cards.
Try store cards, discover, capital one.
Pay them in full each month.
Making loans and carrying balances does not increase scores. That's a myth.
You have to be 18 to get a credit card or make any loan. |
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bdancer222
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Putting money in a bank account is a good idea but it has no impact your credit.
Second, you must be 18 to legally sign contracts. If you are under 18, you won't be able to open an account at a jewlery store.
When you do turn 18, check with your bank about getting a secured credit card -- you deposit $x and they hold it as collateral against your line of credit. Use the card and pay it in full every month. This will build a good payment history. The longer the payment history, the better your credit. After 6 months to a year, you should be able to get a regular major credit card. |
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kit
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To establish credit, once must work at a certain place of employment for quite some time. Just wait until you go to college. The credit card sales people will visit any campus and ask the students to apply for a credit card just for a free prize of some kind.They don't care what type of employment you have, as long as you sign the dotted line of their agreement, you are already pre-approved. |
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Mrs. Grotts
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No, it does not establish credit but it is a very good thing to do in order to build up a cushion for yourself should you have financial trouble. The best way to establish credit is to get a credit card or store credit card, use it for a small purchase once in a while and pay it off once the bill comes. Most likely you won't be able to establish until you are out of high school because legally you are required to be 18+ in order to open an account. |
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src50
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No. A bank account does not build credit. "Credit" means borrowing money and paying it back responsibly. Don't worry about "building credit" until you are 18 and out of high school. And don't take personal finance advice from your friends - I guarantee you that most of them don't know what they're talking about. Consult your parents or a knowledgeable adult advisor. |
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monkeyman1
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It is very easy to start establishing credit. If you're 18 years old, simply apply for a credit card, make small purchases, like gas, and pay the balance in full each month.
A good card to start out with is Capital One, they will give a card to anybody who is just starting out. They will also increase your credit limit I think every 6 months if you pay on time and never go above your limit.
After about a year, apply for a better card, like Chase or Citi. Just make your payments on time, never go above your limit, and never max out any credit card.
You'll have credit in no time. The buying cheap jewelry and making payments idea I have never heard of, and don't think it will work. Just get a credit card.
And depositing money into a bank account will not establish credit. |
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Rick W
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No. Money in an account does not establish credit.
Your friend is correct. Purchase something at a place willing to extend credit to you and then make sure you pay it back in a timely fashion
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xxdigitalspyderxx
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First, it's great that you're thinking about this kind of stuff early. Knowing about credit will come in handy when you have to take out student loans for college, buy a car or purchase a house.
Unfortunately, no, having a bank account doesn't establish credit. Neither does just having a credit card. In order to establish credit, you have to prove that you can use credit wisely by making payments on time.
Start off with a credit card at your favorite store. Most department stores have credit cards just for their merchandise. They usually have the applications at the checkout counter or service desk. Since you're a minor, you may need to have a parent or adult co-sign.
Next, buy stuff with your credit card from the store, BUT, start slow and limit yourself to ONLY what you can pay off with real money in 1 or 2 months. Remember that a credit card is a temporary loan. Eventually, everything you buy must be paid for.
The more you buy and pay off on time, the more credit you get and the easier it is for you to get loans for other things at low interest rates. |
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