 Why would my credit card APR balloon to 19.99%? I haven't missed payments and I have relatively good credit. |
| I have a fairly high balance--$16,000 due to graduate school expenses, but I always pay on time and try to pay more than the minimum payment. I make around $45,000 a year. I don't understand why ... |
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 I have really bad credit- not credit card related. Does credit counseling work or what can I do to fix it? |
| I am having trouble renting an apartment, I am going to need to buy a car and I would like to eventually own a house.... |
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 Will Social Security let you change your social security card.? |
| Someone stole my indenty and therefore I have to change my social security, but I think social security has told me they don't like to do that. I wonder what you think I have been a victim of ... |
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 My brother stole my credit card and went shopping online? |
| he took the card one night and i get this huge bill. i hate him right now. he wont pay for anything. now he left the other night back to new york. am i going to pay for his mistake? or do the credit ... |
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 How long after having a credit card is it ok to request a limit increase? |
Assuming you have paid on time and made substantially higher that minimum due payments.
Additional Details
It in fact would be a so to say "temporary fix" for vacation costs. I... |
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 Who invented credit? |
| You know, the whole idea of "buy/borrow now, pay later" but with added interest?... |
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 Is no credit worse than bad credit? |
| As far as I am concerned Ihave no credit. I have just recently got a student loan, I don't know if that made my credit bad or not. How can I get good credit? I don't want to apply for ... |
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 If i am filing for bankruptcy next month will i get introuble if i use up on my? |
| credit cards this month? I already bought alot last month and this month is it ok?... |
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 Does anyone know how to get rid of columbia house records? |
| I bought some dvd's last christmas and now they are always going into my checking account taking money out and mailing me dvd's that I dont want. I can never talk to anyone at customer ... |
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 I have a serious problem on my hands! I had some money saved up and i went out to find me a used SUV? |
| I set out to find a way to restablish my credit, and my girlfriend gave me 7 grand to put down on a used car. Now, by being so excited, i didnt care what happened, i just new i had cash and i found ... |
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 I CANT GET APPROVED FOR A CREDIT CARD NO CREDiT? |
| what credit card can i get i have no credit. i know how to spend stuff im only gonna buy like cheap stuff and pay it off each time. is there other ways to build credit?... |
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| Credit card company threatening to take money !!? |
| I had a credit card with halifax bank a few years back , i basically got behind with the payments and eventually stopped paying , after several letters , i rang them up and explained difficulties in ... |
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 Is there a way to remove old paid off debt from my credit history? |
| I am trying to build my credit back up after some stupid things I did as a 20 year old. I had some deliquent credit payments about 5 years ago or so, that I eventually paid off in full about 4 years ... |
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 What can i do about ex husbands girlfriend pulling my credit from her work? |
| My soon to be ex husbands girlfriend obtained my social security number and pulled a hard inquiry on my credit. She is employed at a mortgage lender, which is where the inquiry came from, although a ... |
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 Why can't I get a unsecured credit card? |
I'm trying to rebuild my credit rating but nobody wants to seem to help!
Additional Details
they keep sending me applications for uunsecured cards and then reject the applications.... |
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 Do anyone know of a reputable Credit Repair Agency? |
| I have several charge offs, and collections items on my credit report. I would like to get these items removed. The biggest challenge is with Experian they do not delete anything. I would like to ... |
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 When one has bad credit, is it beneficial to accept the offers of the cards claiming to help rebuild credit? |
| Or if trying to rebuild your credit, would it be better to just start paying on the bills that are delinquent and trying to make a settlement with the company? I had a hard time in the past and was ... |
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 Collections agency ? |
| what should i do if they keep calling me? and they already know my address and what if they come to my house and try to do something? i owe a debt of $1000 gambling online because they gave me free &... |
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Crystal D | Does paying off my auto loan improve my credit score? |
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BillK
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Paying off all of your debts immediately does not help you with improving your credit. Because you should show lenders that you are a good BORROWER. Your existing report shows lender that you pay your payments in full once you have money and you don’t when you are financially in trouble. Therefore you are not a good borrower to a lender (you are risky and they don’t make money out of you). So here some stuffs I suggest to do to polish your credit report and improve your credit:
1) Do not spend more than 1/3 of your limit. That's a rule. Say you have $500 credit limit. So do not spend more than $150 with your credit.
2) Do not pay your existing credit balance in full every month. Pay more than minimum payment but do not pay full. Say your minimum due is $10. I suggest you to pay like $50-$70 each month. Yes you should pay some interest but that's a price to improve your credit.
3) There are lots of articles here which you can find useful to boost your credit.
http://www.howtoestablishgoodcredit.com/Credit_Articles/index.php |
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Kris B
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Yes, there is a separate section to your credit report with debts you've paid. I have some old loans still on there from a few years back and they give me bucco points. |
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Artisan Rebel
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Yes paying any debt off improves your credit. |
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regerugged
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Yes. |
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SPIFIMAN1
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Yes for many reasons. It lowers your debt, it shows responsibility for paying your bills and if you have paid it for at least 12 months as agreed it shows that you can manage your money.
If you have not paid it for at least 12-months? I would wait until you have before paying it off since most banks look for at least 12 payments when they are reviewing loan applications. |
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Linda D
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Yes!!!!!!!!!!!!!!!!
It shows potential lenders your level of responsibility and that you paid the loan completely off.
The more you pay your bills on time, or early, the higher your credit score will rise. |
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Pluto
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I don't know if your credit score will improve, but your debt to income ratio will improve. |
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communic8or g
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Any time you can pay off a long-term debt like an auto loan, it's a good thing. I am not a credit advisor, but I did recently pay off two auto loans and saw my credit score soar.
I learned from this guide, linked below.
Hope this helps! |
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Millionaire in training
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Paying off your auto loan WILL NOT INCREASE your credit score. In fact having an open auto loan that you are paying on time helps your credit score. The best way to increase your credit score is to have credit cards open with balances less than 50 percent of your credit limit. If you don't have a credit card opening one will help. Just keep the balance under 50% of your credit limit. |
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